Uganda's National Budget for the Financial Year 2026/27 was recently presented, highlighting the government's commitment to enhancing the lives of its citizens. According to the Minister of Finance, this budget is not just a financial document but a declaration of intent to protect previous gains and expand opportunities for all Ugandans.

The Private Sector Budget Review Dialogue has raised concerns about policy bottlenecks affecting Uganda's economic growth. Industry leaders argue that high operating costs and regulatory challenges hinder competitiveness, which is crucial for achieving the country's ambitious growth targets. They emphasize that enhancing business conditions may be as vital as increasing revenue mobilization to support Uganda's tenfold growth agenda.

Uganda is poised for significant economic transformation with the introduction of the Tenfold Growth Strategy, as outlined in the Budget Speech for FY 2026/27. This strategy aims to propel the country towards becoming a 500-billion-dollar economy, marking a shift from incremental progress to ambitious growth. The government emphasizes a new approach focused on substantial economic leaps rather than gradual improvements, signaling a pivotal moment in Uganda's pursuit of prosperity.

Uganda's electricity regulator has announced that power tariffs will remain largely unchanged for the second quarter of 2026, as a strengthening shilling has balanced out a slight increase in global fuel prices. The Electricity Regulatory Authority noted that the approved end-user tariffs for April to June reflect changes in macroeconomic factors, but ultimately maintain stable pricing. The Ugandan shilling appreciated against the US dollar, reducing pressure on costs associated with dollar-denominated electricity generation.

Uganda’s Finance Minister Henry Musasizi outlined his agenda during his first management meeting with senior officials at the Ministry of Finance, Planning and Economic Development. He emphasized the need for a cultural shift within the ministry to achieve the government's broader economic goals. Musasizi was recently appointed to the position, succeeding previous leadership.

Uganda's 2026/27 national budget allocates Shs2.07 trillion for energy development, which includes funding for the 380-megawatt Kiba hydropower plant, a floating solar facility at Isimba, and 500 megawatts of utility-scale solar in the Elgon and Acholi regions. Additionally, it includes preparatory work for nuclear power at Buyende and emphasizes the need for expanding transmission lines and substations to support these initiatives.