Category: Daily Monitor

Uganda’s foreign exchange market opened the week on a stable note, with the shilling showing only minor depreciation and appreciation against the US dollar, despite it being a festive period often associated with volatility.

Uganda’s foreign exchange market is fully liberalised, allowing currencies to move freely in and out of the country through banks and foreign exchange bureaus.

Mr Richard Nsubuga, Acting Head of Trading at Absa Bank Uganda, said on December 24 that the Uganda shilling remained largely unchanged, trading in a narrow range. It closed at Shs3,605 per US dollar (buying) and Shs3,615 per US dollar (selling) ahead of the Christmas holiday.

Nsubuga said the currency pair opened on December 24, at 3,607/ 3,617, with pockets of dollar selling from commercial banks and commodity exporters, in a session marked by minimal intraday activity.

‘Demand for the hard currency was indeed subdued as most corporates appeared closed for the festive season, which supported the local unit; however, the appreciation remained limited amid the shilling’s bearish sentiment backdrop ahead of Uganda’s General Elections on January 15, 2026,’ he said.

Nsubuga said offshore market players also remained on the sidelines, allowing the local unit to move calmly throughout the day. He noted that the shilling is still expected to trade within the range of 3,575 – 3,625 in the near term.

He further said that money markets remained tight, with interbank overnight and one-week rates averaging 10.27 percent and 10.47 percent, respectively.

A good book haunts you like a childhood sweetheart. It grabs you, be it by the shirttails, the scruff of the neck, or by the small hairs, and strings you along to places you never knew existed, or whose visits you had forgotten.

Here, in no particular order, are some that continue to jab me in the eye, and that might help you navigate those ridiculously long days between the two holidays. In a fast-paced world of innumerable screens and terminal doom scrolling, finding the time to turn a page seems impossible, yet almost decadent when you succeed. Which is why a good first recommendation would be The Attention Economy by Thomas Davenport and John Beck.

The basic argument is that attention has become the most precious resource, and figuring out how to get and keep it is essential for businesses — and, I’d add, any exasperated parent trying to have a conversation with their teenagers. If, like me, you worry endlessly about whether the children will be alright, help might be at hand from Catherine McCarthy. Her book, Raising a Kid Who Can, is a mirror that shows how much understanding your children is about understanding yourself. Another go-to is Raising Emotionally Healthy Kids by Eileen Kennedy-Moore. The end of the year inspires well-meaning promises to improve and be a better person — New Year, New Me, anyone? — but bad habits are notoriously hard to kick, as Charles Duhigg notes in The Power of Habit.

Daniel Kahneman’s book, Thinking, Fast and Slow, opened the creaky hinge to the rabbit hole of behavioural psychology and economics from which I have never been rescued. I invite you to get lost in it, but I warn you, you might never be heard of again! There’s plenty of help if you are looking to do better, be better, but two recommendations come to mind. In Nudge, which I consider a classic and personal favourite, Richard H. Thaler, a University of Chicago economist and 2017 Nobel laureate and his Harvard colleague Cass R. Sunstein, show that big changes come from small tweaks — or that small tweaks can help you make the big changes you hope for. The other would have to be Necessary Endings by Henry Cloud, which is so simple in its counter-intuitiveness, it is mind-blowing. To start new things, old things must end, and to grow, you must go.

It’s much harder in real life, of course, but you won’t fail from a lack of knowledge. There’s a tonne of books about money, but the most memorable, in my opinion, are tried and tested classics: The Psychology of Money by Morgan Housel is well worth its hype, but few money books are as accessible as The Richest Man in Babylon by George S. Clason. I have kept biographies and political books off the list, as well as local fare, because I’m ashamed to admit I haven’t done many this year. I have also chosen older books that are still relevant today and accessible in other formats, but please buy books if you can afford them; writers and publishers also have needs! It is for this reason, and just being old school, that I struggle to read PDF book versions (audio versions are a lifesaver in Kampala’s traffic).

I am looking forward to finally reading Mahmood Mamdani’s Slow Poison, a physical copy of which has been pressed into my flesh and will soon be devoured, and copies of which are now available at Mahiri Books. There’s a catch to my generous suggestions, of course. Together with a dear friend, we are collecting books for a small free public library we plan to open in the new year in Kira. We already have some books, but are keen to receive more and will gratefully accept any.

*** There is, I admit, a temptation to engage with malicious, malevolent and mendacious slurs that have been drawn to my attention on social media, but I am reminded of an adage that has served me well in the past; if a pig invites you to a mud-wrestling contest, wait for the mud to dry. Then decline. Happy holidays!

The country is experiencing devastating effects of climate change due to environmental degradation such as rampant felling of trees for firewood and making charcoal, encroachment on wetlands, among others. This has led to prolonged dry spells, with several hectares of crops withering, leaving farmers counting losses and communities facing food shortages. In some parts of the country where vast tracts of forests and other vegetative cover have been cleared in hilly areas, landslides have occurred on many occasions, destroying properties and killing people. Thousands have been displaced over the years as a result of these unfortunate incidents.

Encroachment on wetlands has destroyed habitats of animals and insects. In some areas of the country, this wanton encroachment on wetlands has caused floods that have destroyed properties, killed people, and displaced thousands. Wetlands absorb rainwater, so if they are degraded, it enables flooding with the accompanying devastating effects. Trees are an integral part of the ecosystem. They take carbon dioxide out of the atmosphere and turn it into oxygen, which is essential for the existence of animals, including human beings. Trees are also essential for the formation of rainfall, which most farmers in the country depend on for the cultivation of crops and rearing livestock and poultry.

However, the forest cover has declined from 24 percent in 1990 to the current 12.7 percent. Vast tracts of wetlands have also been encroached on. Some inroads have been made in restoring degraded forests and wetlands, but this small gain is being negated by stubborn and unscrupulous locals, who return to restored wetlands where they were earlier evicted. The country also faces a polyethylene (plastic) problem. Uganda has a high consumption of plastic but poor management of plastic waste. Very little plastic waste is recycled, with most of the plastic bags (kavera) and bottles haphazardly disposed of, polluting our environment. We call upon the government to step up efforts to conserve our environment.

Forests and wetlands must be protected from encroachers. Everyone should be educated about the importance of preserving these natural resources. It is imperative that the government helps those who previously derived their livelihoods from wetlands find an alternative source of income to prevent the scenario of them returning to restored wetlands. Tree planting should be encouraged countrywide to restore the country’s lost forest cover. The authorities must also increase efforts to enable more people use cooking fuels that are not harmful to the environment.

This can be done by reducing electricity tariffs and reducing taxes on cooking gas to make them affordable. We also implore the public that conserving the environment is not only a responsibility of the government, but also their civic duty. Where applicable, plastic bottles and bags should be reused by the public. Incentives should also be provided to attract more entrepreneurs to set up plastic recycling factories. The authorities must also strive to ensure increased use of non-plastic packaging materials.

Electricity is the silent engine of modern life. It powers industry and healthcare, sustains education, enables innovation, and anchors national competitiveness. For Uganda, poised at the intersection of industrialisation, urban growth, and regional integration, reliable, affordable, and sustainable electricity is not merely a technical input. It is a strategic necessity and a defining pillar of national development.

Yet, despite its central role, Uganda’s electricity sector has for over two decades been marked by contention rather than cohesion. Public dissatisfaction has endured. Institutions have traded accusations. Operators have blamed regulators; regulators have faulted operators, and policymakers have often stood at a distance. Since the early 2000s, the sector has been trapped in a persistent blame game, loud, cyclical, and largely unproductive.

The question, therefore, is unavoidable: if blame were effective, would the sector still struggle to meet public expectation? To understand the present, one must return to the legacy of the Uganda Electricity Board (UEB). By the late 1990s, UEB, then a vertically integrated monopoly, was burdened by political interference, financial instability, corruption, and deep operational inefficiencies. Infrastructure was aging, losses were excessive, outages were frequent, and investment lagged far behind population growth and rising demand. These were not isolated failures; they were systemic and cumulative, rendering the existing framework incapable of supporting Uganda’s development ambitions.

In response, government undertook sweeping reforms in 2001, unbundling UEB into separate generation, transmission, and distribution entities. The objective was efficiency, transparency, and the attraction of private capital. Yet distribution, the interface between the sector and the public, remained particularly weak. Infrastructure was dilapidated, access limited, losses high, and innovation minimal. This reality paved the way for a public-private partnership, culminating in the 2005 electricity distribution concession awarded to Umeme Limited, which expired in March 2025. When Umeme assumed control, it inherited a fragile system. Over 20 years, it delivered measurable operational gains: energy losses fell dramatically, customer connections expanded from under 300,000 to over 1.6 million, and revenue collection reached near-perfect levels.

Environmental performance improved through risk-mitigation investments and adherence to international standards, while hydropower, clean and renewable, accounted for over 90% of energy use. Electrification supported industrial zones, health facilities, and underserved communities, with social programs extending benefits to women and low-income households.

Yet these achievements coexisted with persistent tension. Disputes with the regulator ERA intensified over tariffs, capital recovery, and returns on investment. Governance, while strong in compliance, was often perceived as commercially driven rather than rooted in long-term sustainability. Critically, the concession’s final years lacked a shared transition strategy, leaving the sector vulnerable at handover.

Following Umeme’s exit, UEDCL assumed distribution amid significant strain, inheriting an overstretched network despite substantial initial investment. What followed was a familiar exchange of accusations between institutions, each pointing to the other’s failures. Often overlooked, however, is the fact that UEDCL was not merely an observer during the concession; it had a formal mandate to monitor compliance and was part of the sector’s governance architecture. Responsibility, therefore, is shared. This reality underscores a deeper truth: Uganda’s electricity challenges are not the product of a single actor, era, or contract. They are structural, historical, and fundamentally governance-driven.

It is here that Environmental, Social, and Governance (ESG) principles become indispensable. ESG reframes electricity as a public good with profound social, environmental, and developmental consequences. It demands transparency, accountability, ethical leadership, and innovation grounded in local realities rather than imported templates. Crucially, it requires the public sector to lead by example. Yet public institutions are often perceived as falling short of these principles, weakened by opacity and politicization.

ESG cannot succeed as a private-sector obligation alone; it must be embedded across public governance. Uganda’s electricity story is neither one of failure nor triumph. It is a story of reform, progress, misalignment, and unresolved tension between public interest and commercial logic. The path forward lies not in blame, but in ESG-driven governance, contextual innovation, and long-term accountability. Only by embracing ESG as a governing philosophy, rather than a compliance exercise, can Uganda build an electricity sector that truly powers its people, its economy, and its future.

For most Ugandans, Christmas is a season of family gatherings, warm meals, and festive celebrations. But for dozens of children living on the streets of Kampala, the holiday is a stark reminder of hunger, hardship, and uncertainty.

Huddled under a tattered blanket along Bombo Road, 10-year-old Dennis nurses a fractured leg, sustained while fleeing from patrolling police officers.

‘I ran, and a car ran over my leg. I was in pain, but we had nowhere to go,’ he says, illustrating the precarious existence of street children who are often seen as nuisances or criminals rather than children in need of protection. Allan, a street children’s team leader who has lived on the streets for six years, says harassment from authorities is a constant challenge.

‘Our colleague suffered a fractured leg, and it was difficult to get him treatment. Police often mistake us for criminals. My wish this Christmas is that we are treated with dignity, not arrested for simply being on the streets,’ he says.

Many street children have fled homes that were meant to nurture them.

Pius, who ran away after his father stopped paying school fees, dreams of returning to school.

‘Life here is tough; people think we are thieves. My Christmas wish is that someone will help me go back to school. I want to study,’ he says.

For others, survival is tied to making small earnings.

Queen Assenju, living on the streets for two weeks, hawks vegetables to get by.

‘I wish for capital to start a small business. That way, I can have a place to stay and earn for myself,’ she explains.

Fourteen-year-old Godfrey, who fled severe abuse at home, recounts how he spends Christmas at the mercy of kind-hearted organisations. Churches like the Universal Church host meals and give clothing, offering street children a brief respite from hardship.

‘It’s only one day, but it brings hope,’ Godfrey says.

Some well-wishers, like Speke Resort Munyonyo, are extending this festive cheer to street children, providing special lunches and fun activities. Yet, for many children, these gestures, while welcome, are temporary reprieves from the harsh realities of street life.

Amon, who collects empty bottles for a living, dreams of buying a computer and returning to Nebbi to become a DJ.

Lorna has been on the streets for four months, hopes for decent clothing and transport to return home safely, fearing harassment from exposure.

Christmas for street children is not about gifts or parties, it is about survival, dignity, and a hope for a future beyond the streets. Their wishes are simple but profound: a chance at education, a safe place to sleep, and opportunities to earn and rebuild their lives.

As the city celebrates, these children’s quiet dreams serve as a reminder that the spirit of Christmas extends beyond feasting and festivities, it is also about compassion, empathy, and giving a hand to those most in need.

The government has stepped in to stabilise Uganda’s sugar sector after a sharp drop in sugarcane prices triggered complaints from farmers and raised fears of deeper disruptions in one of the country’s most politically and economically sensitive value chains.

At a high-level meeting bringing together sugar millers, government officials and sector regulators, it was agreed that factories should not pay farmers below Shs125,000 per tonne of sugarcane.

The engagement followed reports that some millers had slashed prices to as low as Shs90,000, a move growers said had made production unsustainable amid rising input and transport costs.

Speaking after the meeting, Daudi Migereko, chairperson of the National Biofuels Committee and former Energy Minister, said all sugar factories were represented, alongside officials from the Ministry of Trade, Industry and Cooperatives and technical experts.

He said discussions focused on understanding the reasons behind the price cuts and their impact on out-growers.

‘We wanted to understand why there had been a reduction in sugarcane prices by a number of factories,’ Migereko said. ‘After a productive engagement and exchange of views, it was agreed that factories should not go below Shs125,000 per tonne.’

Migereko acknowledged that while some millers were already paying between Shs128,000 and Shs130,000 per tonne, others had lowered prices sharply, creating tension in the sector.

He said the agreed price floor was intended to restore balance and protect farmers who form the backbone of sugar production.

‘In our view, this should help create harmony in the sector,’ he said, warning that persistently low prices risk discouraging out-growers and undermining long-term production.

He reminded millers that government has historically worked closely with them to maintain stability in the industry, urging them to revise prices as the Sugar Industry Stakeholders Council reviews the matter.

The meeting was chaired by the Minister of Trade, Industry and Cooperatives, Francis Mwebesa, who said his ministry had been swamped with complaints from sugarcane farmers over what they described as ‘arbitrary pricing.’

He noted that low prices directly affect farmer livelihoods, mill supply stability, and, social and political stability in sugarcane-growing areas.

According to the ministry, most complaints were directed at GM Sugar, Kaliro Sugar, Bugiri Sugar and Kamuli Sugar. Farmers accused the mills of offering prices far below those provided for under the pricing formula in the Sugar Amendment Act 2025.

They also raised concerns about a five percent deduction for trash that some millers continue to impose, despite guidance from the Sugar Industry Stakeholders Council scrapping the charge.

Mwebesa warned that if farmers continue to earn returns that do not match their costs, the sector faces long-term risks, including reduced investment and declining production.

He questioned the timing of the price cuts, noting that they came during a ‘politically sensitive period’ ahead of the 2026 General Election, and cautioned millers against practices that could erode farmer incomes and fuel discontent in rural communities.

‘Sugarcane pricing should be determined by the Sugar Industry Stakeholders Council as clearly stipulated in the Sugar Amendment Act 2025,’ Mwebesa said.

While the Shs125,000 price floor offers temporary relief, officials said further consultations are expected as the council reviews pricing structures, leaving open the question of whether deeper reforms will be needed to prevent similar disputes.

The Minister of State for Cooperatives, Frederick Ngobi Gume, said his intervention was informed by firsthand observations from the field, where farmers have been grappling with steadily falling sugarcane prices.

He described the timing of the cuts as sensitive, noting that they had triggered anxiety among out-growers who rely on cane sales as their primary source of income.

‘We had to come in after hearing the cry from the farmers,’ Gume said, adding that the meeting helped restore a workable status quo.

He confirmed that the agreed Shs125,000 per tonne is a floor, not a ceiling, and that millers able to pay more are free to do so.

Those that had lowered prices were asked to revise them upwards for at least two months as a broader review is conducted.

Sugar millers operating in the Busoga sub-region unanimously agreed to apply the minimum price for the two-month period. The resolution was reached with the consensus of millers led by GM Sugar’s Akash, Yogesh Agri and Ismail Nasifu of Kamuli Sugar.

The chairperson of the Sugar Industry Stakeholders Council, Rajbir Singh Rai of Kinyara Sugar Works, urged millers to comply with the Sugar Amendment Act 2025, saying adherence to the law is critical to restoring stability.

However, millers raised concerns about the practicality of uniform pricing.

Henry Kata of GM Sugar said production costs vary across factories, making it difficult for all millers to offer identical prices despite the existence of a formal pricing formula.

Louise Nakayenga is not one to be confined by the obvious path. She is a builder, but her most significant creation has been her own career. A trained economist, Nakayenga charted her course through varied fields before arriving at her true calling; furniture making. Her journey began with the safe choice; a Bachelor of Arts in Economics after Senior Six. It was a sensible, structured path, the kind that placates parents and ambition with the promise of security. Yet, even as she navigated the graphs and theories of economics, a different part of her mind resisted containment. Classrooms felt rigid; sciences were a struggle. Her natural habitat was the creative space, a world of intuition and expression.

This was most evident in music. From childhood, she held a profound connection with the piano, pursuing formal training and examinations with a seriousness that hinted at a deeper passion. That passion never faded; today, she not only performs professionally but has also channeled it into founding the annual Piano Evenings; a testament to her creative drive. It was this innate need to make, to shape raw material into meaning, which economics could not satisfy. The logical framework of her studies provided a foundation, but the expressive force of her artistry demanded an outlet.

In her mother’s footsteps

After university, Nakayenga entered a season familiar to many graduates: dropping brown envelopes at offices and waiting for a call that never came. A period of uncertainty, it was defined by hope and a quiet desperation. Then, a casual conversation changed everything. A stranger offered her mother simple, profound advice; young people needed practical skills, not just degrees. “Let them study something they could do with their hands,” he said. Nakayenga listened. In 2013, she travelled to South Africa to study landscape design. The plan made perfect sense; she was following a path her mother had pioneered. In the 1970s, when such a course was almost unheard of in Uganda, her mother had studied horticulture in the United Kingdom. Before founding a respected landscape design firm, she had built a business in floral arrangements and décor.

Nakayenga grew up in that creative world, spending Saturdays carrying stands into churches, tying ribbons, and watching temporary beauty bloom and fade. Later, her mother opened a plant showroom in Kansanga, shifting from events to selling potted plants and, eventually, designing gardens for a 1990s Ugandan market still unfamiliar with the concept. In this home, creativity was the norm. There were no hard “no’s” to ideas, only encouragement to try. So, Nakayenga studied landscape design with every intention of returning to Kampala to join the family business. She did return, and she did work alongside her mother. But a quiet dissonance grew. “The more I did it, the more I realised I was not interested,” she says simply. She stayed longer than she wanted to, burdened by the investment in her training and a fear of disappointment.

For years, she pushed herself to show up at sites she did not love, doing work that drained her spirit. Yet, this period of wrongness was shaping her in essential ways. Landscape design trained her eye to see space in terms of layers, texture, balance, and flow. It also revealed a glaring contradiction to her: people would spend lavishly to build, paint, tile, and landscape their homes, only to fill them with boring, uninspired furniture. “Just flat tables with four legs,” she recalls. “It did not make sense to me.” That thought became a quiet obsession. While still working in landscaping, she began experimenting. She partnered with a skilled carpenter, designing a mirror here, a wine cabinet there.

She hid these prototypes in her mother’s garage, tucked between wheelbarrows and tools, as if she herself wasn’t ready to claim them. Then, an ordinary day delivered an extraordinary moment. A woman came to the house to buy plants, wandered into the garage, and saw the mirror. “What is this?” she asked. Nakayenga explained. The woman asked the price. Nakayenga, summoning a figure from the air, said: “Shs780,000.” Without hesitation, the woman paid and asked for delivery the next day. Nakayenga had never delivered or installed furniture. She figured it out. “I learnt on the job,” she says. That single, seamless sale changed everything. It was a vote of confidence not just in the product, but in her own vision.

A new path

With the path now clear, Nakayenga made a decisive pivot. In November 2014, she stopped working in landscape design and chose furniture, stepping out of her mother’s footsteps not to abandon creativity, but to pursue its purest expression. Her mother’s blessing was simple and knowing: ‘I had already noticed. Go ahead.’ To mark the beginning, Nakayenga hosted a small, personal launch at home. She invited about 50 friends and family, set up tents in the garden, displayed her pieces, and served drinks. This was no grand commercial opening; it was an intimate, honest introduction. She named her venture Star Creations Antique Furniture, a name reflecting her artistic spirit and love for aged beauty.

Her focus on restoration and deliberate aging represents a profound rejection of the disposable and a deep commitment to creating art, not just furniture. This choice stems from an early observation that became a guiding conviction. She noticed that people would invest in beautiful homes only to furnish them with what she saw as lifeless objects; “flat tables with four legs” that were functional but devoid of soul. In response, she consciously turned toward old wood to oppose a culture of generic design, seeking instead to inject narrative, warmth, and intentional imperfection into the spaces of daily life.

Restoring heirlooms

Where others might see a worn-out wardrobe or a discarded table, Nakayenga sees a raw canvas with a hidden history. Her process is an act of artistic revelation, a form of collaboration with the material itself. She discovered that her clients often had deep emotional attachments to inherited pieces, seeking not replacement but resurrection. Her work, therefore, becomes about honouring a family’s story by giving a cherished heirloom a renewed future.

She listens to the wood; its unique grain, scars, and patina, and allows it to guide the creative process. By refurbishing, staining, and distressing, her goal is not to make the piece look new, but to heighten its inherent character, making its age beautiful and deliberate. This ensures that no two pieces are ever alike, each one a unique collaboration between the artist’s vision and the material’s own biography.

This foundational philosophy is what defines her brand’s identity. Art carries a narrative; a brand-new piece has no past, but an antique or deliberately aged piece by Nakayenga carries the whisper of its former life, now layered with her artistic intervention. It becomes a living conversation piece whose beauty evolves as its surfaces wear and warm with time. Her signature rustic style, which embraces imperfection, actively challenges the sterile perfection of mass production. The cracks, variations in stain, and handmade carvings are not flaws but the cherished marks of authenticity and artisanal intent, inviting both touch and contemplation.

Nakayenga’s dedication to old wood extends beyond aesthetics into a sustainable and spiritual practice. By reclaiming and revitalising existing timber, particularly Uganda’s precious indigenous hardwoods such as Mvule, she engages in a form of environmental stewardship, giving new life to resources without the need for new harvests. On a personal level, the process is deeply spiritual. She speaks of seeking “guidance, not exact things,” finding a meditative focus in the workshop.

In the transformation of weathered wood, she sees a powerful metaphor for human resilience; that pain and difficulty can be refinished into strength and beauty. The endurance of the material mirrors her own journey. She chooses to commit to depth over novelty, story over convenience, and soul over mere function. She is not just building furniture; she is curating legacy, proving that profound artistry often lies not in creating something from nothing, but in seeing the masterpiece waiting within what time has left behind.

Staying the course

‘When I started, few in Uganda made rustic antique furniture; now, many do. When fear creeps in, I remind myself to stick to my lane. You do not change your idea because others are coming,” Nakayenga says. She shares her knowledge freely, advising others on marketing and client relationships, and believes Uganda’s advantage lies in its abundant hardwood and skilled, under-exposed carpenters.

Looking ahead

Her next goal is Nairobi, where she hopes to introduce her rustic style through thoughtful exhibitions. She aims to move slowly, letting her work speak for itself. For now, she is content. Wood was just another material until it sparked her creativity; now, it is the medium through which she is carving a lasting legacy. With precision, passion, and determination, she works with the quiet confidence that it can only get better.

As Ugandans celebrate Christmas today, the country is also quietly edging closer to a decisive political moment. With the January 15 elections only weeks away, the festive season is shaping up to be more than a time of worship, family reunions, and goodwill, it is emerging as a strategic window for political mobilisation.

Unlike formal campaign rallies that require mobilisation, security clearance, and significant funding, Christmas offers politicians a rare chance to engage voters organically.

From church services and family gatherings to trading centres and community celebrations, voters are already assembled, creating informal but powerful platforms for political messaging. Political analysts said the Christmas period will effectively extend the campaign trail, albeit in subtler and less regulated ways.

‘This season gives candidates an opportunity to interact with voters without the heavy costs associated with rallies,’ said historian and political analyst John Paul Kasujja.

‘People are already gathered in churches, markets, and villages. Candidates can easily pass on their message in a more personal and relaxed environment.’ Mr Kasujja added that the festive period is particularly strategic for candidates who have previously faced restrictions in accessing some areas.

Christmas is also significant because several Ugandans travel upcountry, reuniting extended families and swelling rural populations. Analysts noted that this creates an environment for reinforcing campaign messages before voters return to their daily routines.

Across the country, churches are expected to be central spaces where faith and politics intersect. Politicians traditionally attend Christmas services in large numbers, sometimes making donations or greeting congregations at the end of services.

Mr Harold Kaija, the People’s Front for Freedom parliamentary candidate for Nansana Municipality, said the season naturally favours rural-based mobilisation.

‘Most of my electorate travel to villages during Christmas. I will attend church in the morning and spend the rest of the day with family, just like them,’ he said.

Youth-focused activities are also expected to feature prominently. Football tournaments, charity drives, and music concerts-often sponsored by politicians-have become popular avenues for engaging voters.

Mr Moses Okwera, the Forum for Democratic Change parliamentary candidate for Nakawa East, said Christmas provides multiple opportunities to meet voters in less formal settings.

‘When I attend church, pastors often give candidates a chance to greet the congregation. I will also attend a music concert in Mutungo-Biina where I have been invited as a guest of honour,’ he said.

However, religious leaders said they are keen to maintain boundaries. In his Christmas message, the chairperson of the Inter-Religious Council of Uganda and the Archbishop of the Church of Uganda, The Most Rev Stephen Kaziimba, urged clergy to remain non-partisan to preserve unity and credibility.

The council has also developed guidelines to help religious leaders conduct civic education without turning places of worship into campaign platforms, focusing instead on voter participation, and peaceful engagement. Pastor Godfrey Kamya Mutumba of Kakooge Redeemed Church in Kasawo, Mukono District said neutrality would be strictly observed.

‘Politicians are welcome to worship like everyone else, but we will not allow campaign speeches inside the church. Christmas is about peace, love, and unity,’ he said, adding that candidates are free to interact with worshippers outside church premises.

Beyond churches, markets, and trading centres are expected to become busy informal campaign zones.

John Bosco Mukiza, a resident of Nsangi in Wakiso District, said festive gatherings often attract politicians. He noted that such campaigns can be costly, as candidates face social expectations to contribute to community activities-further widening the gap between well-funded politicians and those with limited resources.

As faithful mark Christmas today, the blend of celebration and politics is becoming increasingly visible. While the festive season remains a time of joy and reflection for many, it is also proving to be one of the most critical and informal campaign moments on Uganda’s electoral calendar.

The Finance Ministry observed that since the onset of the FY 2025/26, key sectors such as personal and household loans, trade, building construction and real estate and agriculture still dominate credit allocations.

Commercial banks loans foster economic expansion and development by channeling idle capital from savers to browsers who can put it to productive use.

During the period, the Finance Ministry explains in the performance of the economy report for October that personal and household loans continued to receive the largest share of credit approved, accounting for 24.7 percent (Shs477.5 billion) of the total in October 2025.

This was followed by trade at 16.2 percent (Shs312.8 billion), building, construction and real estate at 12.8 percent (Shs247.9 billion) and business, community, social and other services at 11.9 percent (Shs229.7 billion). Other major recipients of credit included agriculture at 11.8 percent and manufacturing at 11.3 percent.

The value of credit approved for disbursement in October 2025 totaled Shs1.9 trillion, slightly less than Shs2.1 trillion in September 2025. Despite this, the approval rate (loan applications against credit approvals) was 76.7 percent, slightly higher than 75.5 percent in September 2025.

In November 2025, Shs2.045 trillion was raised from three auctions of government securities on the domestic primary market.

A total of Shs605.40 billion was raised from T-Bills, while Shs1.4 trillion was raised from T-Bonds.

Of the total amount raised, Shs376.35 billion was used for refinancing of maturing securities while Shs1.6 trillion was used to finance other items in the budget.

The government often issues treasury bills and treasury bonds to finance its fiscal operations due to continuous budget deficits.

During November 2025, yields (interest rates) on the 91-day and 364-day Treasury Bills declined to 11.5 percent and 14.9 percent in November 2025 down from 11.7 percent and 15 percent in October 2025 respectively.

The yield on the 182-day tenor slightly edged upwards to 13.7 percent in November 2025 from 13.1 percent recorded the previous month. All auctions for Treasury Bills were oversubscribed, with the average bid to cover ratio recorded at 1.66 in November 2025.

In October, the government re-opened the two-year, five-year, and 15-year and 25-year tenor bonds on the primary securities market.

Except for the two-year tenor, yields edged upwards for all bonds in comparison to the yields recorded in the previous auction of similar bonds.

In July this year, the International Court of Justice (ICJ) passed a landmark ‘advisory opinion’ that called on individual nations to be held legally accountable for destroying the environment, including greenhouse gas (GHG) emissions.

In a unanimous decision issued on July 23, the 15 justices of the Hague-based court held that the production and consumption of fossil fuels may constitute an internationally wrongful act attributed to the State.

‘Failure of a State to take appropriate action to protect the climate system from GHG emissions, including fossil fuel production, fossil fuel consumption, the granting of fossil fuel exploration licenses or the provision of fossil fuel subsidies, would constitute an internationally wrongful act, attributable to that state,’ the ICJ held.

The world’s highest court also recognised the urgent and existential threat currently facing the world; those harmed by human-caused climate change may be entitled to reparations.

The fact that the world’s highest court has cautioned all countries to ensure the effective mitigation of climate-related issues means a great deal to individual countries. This decision has called into question whether the matter has been on the radar of any presidential candidates this electoral season.

We sampled the manifestos of the four main parties in this year’s presidential contest; the ruling National Resistance Movement (NRM) party, Alliance for National Transformation (ANT), National Unity Platform (NUP), and Forum for Democratic Change (FDC), on how they look at climate change issues.

FDC manifesto

If elected to office in January 2026, the FDC promises to enforce strict regulations to combat pollution, deforestation, wildlife poaching, and illegal logging.

The party also promises to promote sustainable land use practices, including agro-forestry and conservation agriculture, and educate communities about the importance of environmental conservation.

The party, fronting Mr Nathan Nandala Mafabi as its presidential candidate, has also pledged to improve the state of national parks, wildlife sanctuaries, and protected areas to safeguard endangered species, implement breeding programs for endangered species, and introduce modern technologies to reduce encroachments on wildlife habitats.

In response to recent disasters that have claimed several lives around the country, but more recently in Sebei Sub-region, the party pledges to establish early warning systems to guard against impending disasters, enabling proactive measures for safety, in a bid to prevent extreme damage and loss of life. The FDC is thinking about mitigating these disasters.

‘We plan to develop insurance products and risk transfer mechanisms to help individuals and businesses manage risks associated with natural disasters,’ the FDC’s manifesto states in part.

NUP manifesto

For their part, NUP, the largest Opposition political party in Parliament, pledges to emphasise Uganda’s vulnerability to climate change vagaries once elected into power next month, owing to the challenges they present to human life, natural resources, and agriculture, and how they impact livelihoods through floods, droughts, and landslides.

In their manifesto, NUP pledges to forge global partnerships to secure funding for climate adaptation and mitigation priorities; adopt a climate-responsive budgeting framework, integrate climate risk forecasts into budget planning; establish contingency mechanisms for disasters, and ensure transparency in climate-related expenditures.

The NUP’s other climate mitigation pledges include establishing a national adaptation fund, supporting community-level climate adaptation initiatives, including climate-smart agriculture, sustainable water access, health system resilience, and disaster risk reduction.

The party, which has fronted Mr Robert Kyagulanyi, alias Bobi Wine, as its presidential candidate, also promises to commission long-term climate-fiscal analysis; conduct fiscal modelling under varying climate scenarios, and publish annual climate fiscal risk reports. Just like FDC, NUP pledges to accelerate early warning systems, invest in predictive methods, and community-based strategies to mitigate climate risks.

NRM manifesto

The ruling NRM party in its manifesto has vowed to mitigate climate change challenges if given another nod, through 10 areas. The party, which has again chosen Yoweri Museveni as their presidential candidate, is looking to strengthen the regulation and enforcement against degradation of our environment, including protection of the water bodies; invest in urban forestry/greening of cities and other urban areas.

The ruling party will also look to support value addition for sustainable commercial forestry, as a way of preventing unnecessary raw material losses, and continue promoting the use of alternative sources of energy for cooking, away from charcoal and firewood, including supporting livestock farmers to invest in bio-digesters for biogas production.

Other promises include regulated fishing, and eco-tourism to create jobs and foster prosperity, while maintaining the ecological health of lakes and rivers; promoting wetland alternative livelihood options such as fish farming against rice growing; restoring degraded wetlands by among others, cancelling all titles issued in wetlands.

ANT manifesto

Under it, look at climate change, the ANT is pledging to provide safe water for domestic and industrial use in Uganda, which it says remains a challenge and is largely financed by foreign partners, who are increasingly scaling down their support.

‘The provision of water and related services of sanitation and hygiene, commonly called WASH, has to be done within the broader context of preservation of the environment and other forms of natural resources,’ ANT avers in its manifesto.

ANT’s presidential candidate, Maj Gen (Rtd) Mugisha Muntu, said the following interventions will guide the party once elected into power on a strategic approach to the WASH and environmental protection sector.

This, they say, will be carried out through the efficient delivery of adequate water resources wherever and whenever they are needed. The ANT is also promising to encourage appropriate production and use of biomass to ensure preservation of the environment as well as lives and livelihoods.

‘While it’s true that closer to 95 percent of Ugandans still use biomass as a main source of energy for cooking at home, institutions, and some industrial processes like the preparation of bricks and tobacco, the transition shall be well-managed based on realities,’ ANT pledges.

Climate change experts weigh in

We turned to environmental experts to assess the manifestos of the four parties regarding climate change. Mr Denis Yubu, a climate change activist and a social political commentator, said the NUP manifesto is the most realistic, in his estimation, on how best to mitigate the challenges than the rest.

‘Among all contenders, NUP speaks most like it has read both science and the suffering. Its manifesto treats climate not as decoration but as debt-a national emergency that touches every tax, every road, every farmer’s field,” Mr Yubu said.

He added: ‘This is the strongest climate manifesto in Uganda’s 2026 race. It moves beyond rhetoric to systems change – budget reform, fiscal modelling, and ecosystem valuation.’

However, Mr Yubu described ANT’s manifesto as one that carries discipline without details on execution. ”It calls for irrigation to reach two million farmers, reforestation enforcement, and watershed protection in landslide zones, and yet its silence on funding leaves it floating between promise and prayer,’ he said.

The expert said the FDC manifesto ‘reads like a relic of calmer weather’.

Mr Yubu said the NRM has laid strategies in its manifesto but its does not explain how it will resolve the current climate-related challenges, like what is happening in Sebei Sub-region, where flash floods have killed more than a dozen residents.

‘NRM lists past irrigation and wetland projects but fails to introduce a new climate institution, no no-emissions path, and no debt-risk plan. Scale without strategy. Power without imagination,” he said.

Likewise, Ms Angela Nalubega, an activist from Makerere University, said NUP’s pledges could mitigate several climate-related challenges if implemented.

‘NUP’s manifesto has clearly shown the purpose, urgency, and strong desire for climate action as the candidate outlines the adaptation strategies and the mitigation strategies that are both relevant and some have criticism,’ she said. Turning to the NRM party’s manifesto,

Ms Nalubega noted: ‘There is no clear explanation in the manifesto on how they will regulate or monitor their negative effects on the environment, which greatly lead to climate change, to ensure compliance with international emission reduction standards, including the goal of limiting global temperature rise to 1.5°C.”

She added: ‘This lack of clarity raises concerns about whether continued industrial expansion can align with climate action commitments.”

Moving on to the ANT party manifesto, Ms Nalubega said it overlooks how climate change will be mitigated in various communities, despite innovations introduced for the sake of agriculture.

‘Improving irrigation systems means communities can still grow food and manage water even when climate patterns shift; however, how long can we as a country keep adapting to the climate changes if we don’t take action to face and stop the causes of climate change. This makes it biased in the long run as the climate partners keep changing and wasting resources,’ she explained.