Uganda Moves to Establish Sovereign Currency Printing Facility-USPC Signs MoU With German Firm K&B

What the report says

Uganda has moved a step closer to setting up a local currency printing facility after the Uganda Security Printing Company (USPC) signed a memorandum of understanding with Germany-based K&B Banknote Solutions. According to Watchdog Uganda, the signing took place at the Office of the President in Kampala and was overseen by Minister for the Presidency Babirye Milly Babalanda, alongside senior officials from the presidency, USPC, UPPC and the visiting K&B delegation.

The minister said the agreement is meant to guide technical, security, feasibility and commercial work ahead of a final decision on the project. She framed the initiative as part of Uganda’s broader push for sovereignty, industrialization and skills development, arguing that the country should be able to produce key state instruments locally and build domestic expertise in security printing.

Babalanda also emphasized that Ugandan engineers and technicians should be involved from the start and work with specialists through planning, installation, testing and commissioning. She called for skills transfer, clean procurement, realistic timelines and stronger monitoring, and said a multi-sector technical committee should include the Bank of Uganda, the finance ministry, the Attorney General’s office and security agencies.

Watchdog Uganda reported that the MoU opens the door to feasibility studies and commercial negotiations for what would be Uganda’s first sovereign currency printing facility, with potential to serve regional demand as well. The project’s significance lies in its possible impact on state capacity, manufacturing, and technological know-how, though the article does not say when construction or production would begin.