Banking & Financial ServicesEast AfricaNews & AnalysisPolitics & GovermentThe Big Story

Uganda Gov’t plans to borrow over UGX 5.8 trillion in a single sitting amid rising debt concerns

Finance Minister Matia Kasaija, Prime Minister Robinah Nabbanja and Ministry of Finance Permanent Secretary, Ramathan Ggoobi.

A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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