Uganda’s Banking Sector Gears Up to Support Ambitious USD500 bn GDP Growth Plan Uganda’s financial sector is at a turning point as the country embarks on an ambitious journey to expand its GDP tenfold by 2040. At the 2025 UBA CEO Retreat, banking leaders and policymakers outlined bold strategies to mobilize financing, drive investment, and position Uganda as a $500 billion economy.

The Uganda Bankers’ Association (UBA) has reaffirmed its commitment to supporting the Ugandan government’s ambitious economic expansion strategy, which aims to grow the country’s GDP from USD 50 billion to USD 500 billion by 2040. Speaking at the 2025 UBA CEO Retreat, UBA Chairperson Julius Kakeeto emphasised the critical role of the banking sector in facilitating this transformation. He stated, “Finance is a key enabler. Appropriate financing is the key word here! There is a common belief that the strength of a nation depends on the depth and strength of its financial system.” He further underscored the importance of financial…