Introduction In the wake of independence, Uganda sought to assert control over its monetary system and central banking. This ambition came to fruition with the establishment of the Bank of Uganda (BoU) in 1966—a milestone for national sovereignty, financial stability, and monetary independence. Historical Context: From Currency Board to Central Bank Before 1966, Uganda—alongside Kenya...
Introduction Uganda’s banking sector has experienced profound transformations since gaining independence in 1962. Beginning with a system dominated by foreign banks, the sector evolved through nationalization, decline, reform, and modern growth—reflecting the country’s political, economic, and social dynamics. Early Post-Independence Era (1962–1965): Continuity and Challenges Upon independence in 1962, Uganda’s banking landscape remained largely unchanged...
