Uganda Moves to Establish Sovereign Currency Printing Facility

What the report says

Uganda has begun preparatory work for a possible local currency printing facility after Uganda Security Printing Company (USPC) signed a memorandum of understanding with Germany-based K&B Banknote Solutions. According to Nile Post, the agreement sets out technical, security, feasibility and commercial reviews that will help determine whether the proposed Sovereign Currency Printing Facility can move ahead.

The signing took place at the Office of the President in Kampala and was witnessed by Minister for the Presidency Milly Babalanda. Babalanda said the project is meant to improve Uganda’s ability to produce strategic government documents and instruments at home rather than rely on imports. She linked the plan to President Yoweri Museveni’s broader push for national sovereignty, local value addition and skills development.

Babalanda said a domestic facility could eventually support production of items such as currency, passports, national identity cards and academic certificates. She also emphasized training and technology transfer, saying Ugandan engineers and technicians should work with German specialists during planning, installation, testing and commissioning. K&B Banknote Solutions’ training academy was cited as a possible source of technical learning for Ugandans.

The ministry said a multi-sector technical committee will be formed to oversee the project, including officials from the Bank of Uganda, the finance ministry, the Attorney General’s Chambers and security agencies. The MoU does not mean the facility is final; its future depends on the assessments now underway. More broadly, the proposal fits Uganda’s industrialization and long-term development plans, though the article presents it as a preparatory step rather than a completed policy shift.