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@SahinUche@BOU_Official The ladder is climbing. It will NEVER come back to 3,500 ever again. Doomed economy. We should never be proud as a nation. Horrible
I was hosted at UCTV to digest the issue of human trafficking and our upcoming campaign against human trafficking and modern slavery slated for 30th October 2026 at Sharing Youth centre Kampala
Interacting with the refugee women in Bidibidi Refugee Settlement and understanding their zeal towards economic growth has been a wonderful experience in the past 3 days. I will continue journeying with them to the promised land
In Bidibidi Refugee Settlement - building the capacity of women refugees and host community in business planning under JPIIJPC. They should be able to remain economically resilient after this.
While appearing before the Joint Committee on Defence & Internal Affairs and Legal & Parliamentary ( @Parliament_Ug ) Affairs, the Governor of @BOU_Official Dr. Michael Atingi-Ego concluded his submission on behalf of the bank by noting, and I quote:
"True national sovereignty is built on economic strength and financial independence. While the goal of protecting national interests is legitimate, the Protection of Sovereignty Bill 2026, as currently drafted, risks reversing three decades of successful financial development through liberalisation that has sustained economic growth.
By adopting these technical refinements, Parliament can safeguard the nation without compromising the world-class financial infrastructure essential for Uganda's journey to a USD 500 billion economy."
Bank of Uganda, too, is simply inviting the movers of this draconian Bill to BIN IT!
Uganda’s proposed Sovereignty Bill is the ONLY law in the world openly attempting something this sweeping: it legally turns its own citizens abroad into “foreigners”.
The Bill is explicit. A “foreigner” includes “Ugandan citizens residing abroad”.
That single clause redraws the boundary of citizenship. It means diaspora money, relationships, and even family support can fall under foreign control rules.
So the implications are not abstract.
-A mother in Mbale receiving school fees from her son in London.
-A boda boda rider in Gulu financed by a brother in Dubai.
-A small shop in Mbarara stocked using capital sent from Boston.
All could, in theory, fall under foreign influence rules.
Then the net widens.
The definition of an “agent of a foreigner” includes anyone “directly or indirectly… financed or subsidised” by a foreigner.
Not directed. Not controlled. Simply funded.
-A journalist paid by a locally registered outlet that receives donor support.
-A researcher on a project with partial foreign grants.
-An NGO worker whose salary traces back, however distantly, to external funding.
All can be classified as “agents”.
Clause 22 then imposes a hard ceiling: “a cap on foreign funding of approximately UGX 400 million within any twelve-month period”, beyond which ministerial approval is required.
So:
-A private hospital built with diaspora investment.
-A school supported by an international foundation.
-A construction firm using a foreign loan.
Then comes the sharpest edge.
-Clause 13 creates the offence of economic sabotage, criminalising anyone who “publishes information… that weakens or damages the economic system”.
So:
-A newspaper reporting a currency slide.
-An analyst warning about debt stress.
-A civil society group highlighting inflation pressures.
Even if accurate, such reporting could fall foul of the law.
Finally, Clause 5 prohibits activities that promote foreign interests “against the interests of Uganda”, a phrase the law does not define.
Put together, these clauses do something unprecedented.
-They do not just regulate foreign influence.
-They redefine who is foreign.
-They extend control from politics into everyday economic and social life.
In most countries, including Ethiopia and Ethiopia, sovereignty laws manage outsiders.
Here, Uganda redefined outsiders to include its citizens, basically rewriting the 1995 constitution. Of course it’s in the preparatory and consultation stage and could change for better - or WORSE!
I actually have an account in the bank but when I went to open a second account, the bank asked me for a passport size photograph! What nonsense is that?. Long story short, I crossed the road to Equity and opened an account
Btw Stanbic Bank mwetelezze. How can you be asking for hard copies of passport photos in 2026???
You want me to go to the studio like it's 2003 just for a passport photo to give to you???
I'm not going through that crap in this modern era. Just close my account!
In 1992, Mexican musician Chalino Sánchez was handed a death note by cartel members while performing.
He just wiped his face, continued performing, and was killed after the show.