Uganda is preparing to begin commercial oil production in 2026, with operations led by TotalEnergies and China National Offshore Oil Corporation in the Albertine region. The Uganda National Oil Company projects over 160,000 jobs and $2 billion in annual revenue once production begins. Officials say the sector has already attracted $7.5 billion in investment and spurred infrastructure growth, though experts warn of environmental risks and the need for transparent, sustainable resource management.

Uganda faces rising public debt and inflation pressures as the government pursues large infrastructure, energy, and agriculture projects. Total debt has reached about 50–53% of GDP, with domestic borrowing carrying high interest and external loans partly funding roads, dams, and other developments. Citizens experience higher transport, food, and operational costs, while the shilling’s recent 5.6% appreciation supports exports and lowers import costs. Authorities aim to manage debt strategically with support from the IMF and the World Bank.

Jumia Uganda launched its Black Friday 2025 campaign, themed “Masanyalaze – Light Up Your Deals,” to promote e-commerce growth and digital inclusion. The event gathered government, business, and tech leaders in Kampala. Running from October 31 to December 1, the campaign offers major discounts on phones, home goods, groceries, fashion, and beauty. Jumia partnered with Airtel Money, Centenary Bank, Hisense, Redmi, and Spiro to boost online payments, logistics, and eco-friendly deliveries.

Absa Group has acquired Standard Chartered’s retail and wealth banking operations in Uganda as part of Standard Chartered’s strategy to focus on corporate and investment banking. The deal expands Absa Bank Uganda’s customer base, strengthens its digital capabilities, and supports its Pan-African growth plans. Standard Chartered will continue serving corporate and institutional clients. The acquisition is expected to increase competition in Uganda’s retail banking sector and enhance customer access to wealth and digital services.

Spotlight UG highlighted efforts to strengthen Uganda’s energy and mobility sectors. The program featured leaders from Uganda Electricity Distribution Company Limited and Uganda Energy Credit Capitalisation Company discussing electricity access, reliability, and expansion. Allan Muhumuza, Team Lead at Mobility Bureau, emphasized investing in e-mobility, local vehicle production, and the Kiira Vehicle Plant to reduce imports, create jobs, and develop the electric vehicle value chain. The initiatives aim to drive industrialization, innovation, and economic inclusion.

Uganda launched its African Continental Free Trade Area National Implementation Committee to coordinate participation in Africa’s single market and drive export growth. The 30-member team from government, business, and development partners will align policies, expand industrial linkages, and support small and medium enterprises. Led by Trade Minister Gen Mbadi, the initiative seeks to boost production, job creation, and regional competitiveness through AfCFTA’s $3 trillion, 1.3-billion-person market.

Uganda’s Electoral Commission has received 60,000 biometric voter verification kits from local firm Simi Valley Technologies ahead of the 2026 general elections. The devices will use fingerprint and facial recognition to curb fraud and enforce the one-person, one-vote rule. EC Chairperson Justice Simon Byabakama said the kits will improve transparency and credibility as Uganda prepares for presidential, parliamentary, and local polls starting January 15.

Ugandan President Yoweri Museveni congratulated Tanzanian President Samia Suluhu Hassan on her re-election, citing ‘Tanzanians’ confidence in her leadership’. He pledged to strengthen cooperation in trade, infrastructure, and regional integration. His message followed Samia’s swearing-in for a new five-year term in Dodoma after a contested election marked by unrest and opposition complaints. Samia vowed to promote peace and economic stability, while regional leaders and organizations called for calm and continued democratic dialogue.