e-payments

Payments through cheques in Uganda’s financial eco-system continues to decline as Bank of Uganda (BoU) intensifies efforts to promote digital and electronic payments. Latest data from the central bank shows that both volume and value of cheque transactions have dropped, reflecting a steady shift toward electronic funds transfers and mobile-based banking solutions. BoU data indicates that cheque transaction values fell by 3.6%, from UGX 4.8 trillion in the year to June 2024 to UGX 4.62 trillion in the same period in 2025. Similarly, the volume of cheques declined by 3.9%, from 1.05 million to 1.01 million transactions over the same…