Banking is more than just saving or borrowing money. It is a relationship based on trust, accountability, and fairness. In Uganda, the Financial Consumer Protection Guidelines and oversight by the Bank of Uganda ensure that every bank customer is treated fairly. For clients of Bunyoro Finance Bank (BFB), this means you are entitled to certain...
More than 70% of Uganda’s population lives in rural areas, with many depending on agriculture, small-scale trade, and informal employment. Yet for decades, rural Uganda has remained financially underserved, with limited access to formal banking services. Long distances to branches, lack of financial education, and the informal nature of rural economies have historically excluded millions...
Uganda’s financial sector is home to a mix of domestic and international players — with foreign-owned banks occupying a significant space in terms of capital, expertise, and innovation. Over the past two decades, these banks have helped shape a more dynamic and globally connected financial environment, contributing to Uganda’s economic growth and financial modernization. In...
Over the last decade, digital banking has redefined the way Ugandans access, use, and interact with financial services. Once dominated by physical bank branches and paper-based systems, the country’s financial ecosystem has undergone a major shift — thanks to mobile money, internet banking, agency banking, and fintech innovation. Today, digital banking is not just a...
Empowering Small Enterprises, Farmers, and Financially Excluded Populations Microfinance Institutions (MFIs) have become vital players in Uganda’s financial system, filling a gap left by traditional commercial banks and bringing financial services closer to marginalized communities. In a country where many people still lack access to formal banking, MFIs serve as a bridge to financial inclusion,...
An Updated Guide to Market Leaders, Growth, and Customer Satisfaction As of 2025, Uganda’s banking sector continues to evolve, shaped by innovation, increased financial inclusion, and regulatory stability. With over 25 licensed commercial banks operating under the supervision of the Bank of Uganda (BoU), competition in the sector has led to a higher standard of...
Introduction Following sweeping financial reforms in the 1990s, Uganda’s banking landscape entered a dynamic period of expansion, diversification, and modernization. From 2000 onwards, commercial banks multiplied, market competition intensified, and digital innovation reshaped how Ugandans engage with financial services. 1. Expansion in Numbers and Market Reach 2. Increased Deposits, Lending, and Assets 3. Capitalization and...
Introduction The 1990s marked a pivotal era in Uganda’s financial history. Following periods of instability and underperformance, the government, with support from international partners, embarked on sweeping reforms. These policies transformed a fragile banking system into a more resilient, market-oriented sector—laying the foundation for economic recovery and growth. 1. Economic Liberalization and Interest Rate Reforms...
1. Pre-Independence Legacy: East African Shilling Prior to independence, Uganda used the East African Shilling, managed by the East African Currency Board (EACB) based in London. This currency served Uganda, Kenya, Tanzania, and some adjacent territories, backed principally by sterling reserves Wikipedia. 2. Birth of the Ugandan Shilling (1966) In 1966, with the formation of...
