Coffee farming is profitable but capital intensive, requiring huge investment in organic manure, inorganic fertilizers, fungicides, pesticides, equipment and labour. This is where financing becomes critical.

To bridge that financing gap, dfcu Bank is offering tailored solutions to small, medium and large-scale coffee farmers through government-backed facilities, instant mobile loans and asset financing.

Speaking to over 150 top coffee farmers during a farm tour at JBK Modern Farm in Kikerege, Kikyusa, Luwero District on September 5, 2026, Benjamin Owoyesigire, dfcu Bank’s Manager for Vehicle and Asset Finance, said the lender is at the centre of agricultural transformation.

“We are at the heart of driving agricultural transformation through a wide range of financing products for farmers,” Owoyesigire said.

12% Gov’t Loan Still Available

He urged farmers to tap into the Government of Uganda’s Agricultural Credit Facility (ACF), where dfcu is one of the leading participating financial institutions.

“The interest rate for the Agricultural Credit Facility is 12%. The ACF funds are available, and there is a lot of money waiting for you at dfcu,” he said.

Instant Mobile Loans

For farmers who need emergency cash, dfcu is offering instant mobile loans.

Owoyesigire said with just a click, a farmer can get money on their phone within five minutes.

“For people with personal accounts, it’s up to Shs2 million provided you’ve banked with us for six months. For those with company accounts, we have the Maali loan that offers up to Shs200 million in unsecured loans,” he said.

Vehicle and Asset Financing

The bank also offers unmatched vehicle and asset financing through strategic partnerships with trusted suppliers of agricultural equipment.

“We partner with trusted partners of agricultural equipment and offer affordable and flexible financing terms to customers,” Owoyesigire added.

Free Training, Market Linkages

Simon Omara, a Business Advisor at dfcu Foundation, said the Foundation is helping farmers de-risk their investments and become more bankable through a graduation model – a pre-financing approach where farmers are trained to understand their enterprise before receiving money.

“Most people say ‘I don’t have money; I would have planted coffee on my 5 acres of land.’ But what is missing is having that analysis and understanding the enterprise. That is the gap dfcu Foundation bridges,” Omara said.

He said the Foundation has so far supported over 70,000 farmers and linked over 400,000 SMEs to finance across the country, with coffee as one of its key value chains.

Omara also unveiled BeanBook, a market intelligence tool developed in partnership with Rabo Foundation of the Netherlands, which links farmers, aggregators, processors, traders and exporters to markets and helps them forecast returns.

“BeanBook helps you to monitor the market that you’re going to sell your coffee to. Even as a farmer, you need to forecast what are your outcomes, return on investment, where are the markets,” he said.

He added that the Foundation is also spearheading sustainability through tree planting, advising farmers on suitable shade trees for coffee.

“Our business advisors are on ground, we also have community-based trainers to support last-mile farmers through mentorship and coaching, and all our services across board are free of charge,” Omara said, urging farmers to open accounts with dfcu to access the offers.

Farmer Testimony

Eng. Jossy Balissa Kuta, a biomedical engineer and proprietor of JBK Modern Farm, said financing was key to building his 25-acre farm with 30,000 coffee bushes, each producing an average of 4kgs of Fair Average Quality (FAQ).

“Coffee farming is an expensive venture but worth the investment. We wouldn’t have reached this level without bank support. I still run loans; I have to buy fertilizers and other inputs on time, I have to pay workers on time. Sometimes money isn’t readily available and you have no choice but to run to a trusted bank that understands you for a loan,” Kuta said.

He projects to harvest about 800 bags of Kiboko (dry cherries) this coming season.

The farm tour was organized by JBK Modern Farm in partnership with Business Focus.

Next: We will soon publish a detailed guide on practical tips to increase coffee yields, as shared by experts at JBK Modern Farm.

The post dfcu Bank Courts Coffee Farmers with Affordable Loans, Asset Financing appeared first on Business Focus.

The Board of Directors of the Petroleum Authority of Uganda (PAU) has announced the appointment of Fred Kabanda as the Executive Director of the Petroleum Authority of Uganda.

He will assume office on 1st December 2026 following the successful conclusion of the recruitment and onboarding process.

He substantively replaces Ernest Rubondo, who exited the Petroleum Authority of Uganda after completing the maximum two terms.

Rubondo’s contract expired on August 31, 2026, after nearly a decade at the helm as the Authority’s pioneer Executive Director.

Kabanda brings extensive experience in Uganda’s petroleum sector, having served in both technical and leadership roles in the Ministry of Energy and Mineral Development and the African Development Bank over the last thirty (30) years.

Otonga Michael Ochan will continue serving as Acting Executive Director until Kabanda assumes office.

In a statement dated September 9, 2026, Lynda Biribonwa, the Chairperson, Board of Directors of PAU, expressed appreciation to the Ministry of Energy and Mineral Development for the guidance throughout the appointment process and looks forward to working with Kabanda as he takes on his new leadership role at the Authority.

“The Authority remains focused on delivering its mandate in supporting the sustainable development of Uganda’s petroleum resources and contributing to Uganda’s socioeconomic transformation,” she said.

Profile of Mr. Fred Kabanda

Fred Kabanda is a seasoned petroleum sector professional with more than thirty (30) years of experience in petroleum regulation, policy development, institutional leadership, and extractives governance at national, regional, and continental levels.

He currently serves as Head of the Extractives Division at the African Development Bank (AfDB), where he provides strategic leadership and policy advisory support on oil, gas, and mining development across Africa.

Kabanda is recognised as one of the architects of Uganda’s petroleum policy, legal and regulatory framework. During his service in the Ministry of Energy and Mineral Development, he contributed to the development of Uganda’s petroleum laws and policies, including the National Oil and Gas Policy for 2008, and supported the transition of regulatory functions from the Ministry to the Authority.

Prior to joining the African Development Bank, Kabanda served in various technical and leadership positions within the Ministry of Energy and Mineral Development, rising to the position of Assistant Commissioner and Head of the Regulatory Unit in the Petroleum Exploration and Production Department.

Over the course of his career, he has played a key role in petroleum licensing, field development, regulatory oversight, contract negotiations, and sector governance.

Kabanda holds a Master of Science in Petroleum Engineering from the Norwegian University of Science and Technology and a Bachelor of Science (Honours) in Geology and Chemistry from Makerere University. He has undertaken executive and professional training in leadership, petroleum management, governance, and natural resource management from internationally recognized institutions.

He brings extensive experience in stakeholder engagement, institutional management, and strategic leadership, positioning him to guide the Authority as Uganda progresses towards commercial oil production and the long-term sustainable development of its pe

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The Deputy Inspector General of Government (IGG), Dr. Patricia Achan Okiria, has warned Ministry of Public Service officials to discard the notion that accountability is optional, stressing that it is a constitutional and ethical duty.

Dr. Okiria made the remarks while delivering a keynote address on Transparency and Integrity at the Ministry’s Annual Staff Baraza held at the National Records and Archives Centre in Kampala.

“If the citizens whose resources I am managing were standing beside me, would I be comfortable explaining this decision, this expenditure, this appointment, this procurement process or this use of public property to them? That is the spirit of public accountability,” she challenged officials.

She said public accountability rests on three pillars – the decisions officials make, the authority they exercise, and how they use public resources.

“Accountability must be the engine of public service,” Dr. Okiria said, urging staff to make it their guiding principle in order to strengthen public trust and deliver citizen-centered services.

The Deputy IGG said government is felt by citizens through services, not policy documents.

“Citizens experience Government primarily through the services they receive. They experience Government when medicines are available at health centres, when skilled personnel are present, when children receive quality education, when roads are maintained, when applications are processed efficiently, and when public officials treat them with dignity and fairness,” she said.

She warned that every interaction with a citizen is an opportunity to either build or break public confidence in the state.

“Public resources must be used strictly for their intended purposes. They must never be diverted for personal benefit or for any other unauthorised purpose. Government funds should be spent only for authorised purposes, properly supported by documentation, accurately recorded and transparently accounted for,” Dr. Okiria emphasized.

She reminded officials that Uganda’s development frameworks identify good governance, accountability and control of corruption as essential drivers of socio-economic transformation.

“The reflections from this engagement should go beyond this Baraza. They should inform how each of us exercises authority, manages public resources, interacts with citizens and delivers results,” she said.

Dr. Okiria’s address comes at a time when Government, through anti-corruption agencies like the Inspectorate of Government, is intensifying efforts to protect public resources and improve service delivery. She warned that accountability is non-negotiable and the law will be applied firmly against those found culpable.

The Minister for Public Service, Gen. Katumba Wamala, also called for teamwork and professionalism.

“Success comes when all of us work together. So, when we deliver results, we win as one team. We must also remain professional at all times, and also respect each other no matter one’s rank,” Gen. Wamala said.

The Baraza was also attended by State Minister for Public Service, Hon. Lydia Wanyoto, former Minister for Public Service, Hon. Muruli Mukasa, and State Minister for Bunyoro Affairs, Hon. Grace Mary Mugasa, who formerly served as State Minister for Public Service.

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The National Identification and Registration Authority (NIRA) has asked men who are victims of paternity fraud to approach the Authority with DNA evidence to correct records on birth certificates free of charge.

The appeal was made by NIRA Executive Director Rosemary Kisembo while appearing before the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) on September 9, 2026, during consideration of the December 2025 Auditor General’s report.

“Section 35 of our Act says that upon production to the registration office of DNA tests, we can instantly change the information on the register. It is a free of charge process, change of parentage is a free of charge process,” Kisembo said.

Her remarks prompted COSASE Chairperson Muwada Nkunyingi (Kyadondo East) to seek clarification on whether any man with DNA proof can correct the register.

“So once you get your results, is there any specific requirement you need? So I can go to any DNA centre, test my children, when I find that some are not mine, I pick this, I deliver to NIRA, is it a process?” Muwada asked.

Kisembo said NIRA works with only five laboratories accredited by the Directorate of Government Analytical Laboratories to conduct DNA tests, and these laboratories automatically share results with NIRA.

“The client delivers to the government laboratory and the government laboratory automatically sends us a message. All these certified labs send us an electronic message on what they have done. So, whether the client comes or not, we do have the message,” she explained.

The discussion was triggered by Muwada, who asked how men can correct records after being issued birth certificates for children later found not to be biologically theirs.

“Now, you know, it is a requirement that when a child is born, the man is just told that this baby belongs to you, so a birth certificate is accordingly issued. Now men are told that you are the father of these children, they even bring gifts and also offer names. Now with the technology and DNA testing, many times these children are being found not to belong to their father, but the certificate is already issued. So, what should the men in this country do?” Muwada asked.

On non-scientific cases where parentage is disputed based on looks, Kisembo said Section 35 provides for a cultural correction mechanism where both the former and actual fathers must appear before NIRA.

“Section 35 says if you want to do it culturally, the former father and the actual father must both present at NIRA. And the former father must say this is not my child and the other father must say this is my child,” she said.

Marriage Registration Drops

The Committee also questioned NIRA on the poor performance of the Marriage Registration function after its transfer from the Uganda Registration Services Bureau (URSB) to NIRA under the RAPEX reforms effective October 1, 2024.

According to Auditor General Edward Akol, Non-Tax Revenue from marriages dropped by 22%, or UGX 432 million, from UGX 1.94 billion to UGX 1.51 billion, due to limited geographical coverage – mainly concentrated in Kampala – and incomplete IT systems.

NIRA had planned to register 31,044 marriages in 2024/25 but only registered 18,617. This included 6,716 faith-based marriages against a target of 11,292, and 2,496 civil marriages in Kampala against a target of 3,168. At district level, only 315 civil marriages were registered against a target of 2,604. For Muslim marriages, 1,689 were registered against a target of 1,704, while customary marriages stood at 740 against a target of 2,496.

The Authority also projected to issue 6,060 marriage certifications but issued only 3,634, and 996 Single Status Certificates but issued only 788. It planned 1,740 searches on the marriage register but conducted only 1,384.

Death, Birth Certificates Delay

COSASE also raised concern over delayed issuance of death certificates, which affects succession and administration of estates.

According to the Auditor General, of 198,464 applications analysed, 177,122 reached printing stage, leaving 1,872 unprinted. Of these, 390 were rejected while 1,482 are pending printing. The average delay from application to printing was 15 days for death certificates and 5 days for birth certificates, with extreme cases taking 306 days for death certificates and 344 days for birth certificates.

A total of 19,555 certificates – 16,625 births and 2,930 deaths – had been printed but remained unissued as of June 30, 2025, with an average delay of 127 days and a maximum of 261 days.

“The persistent backlog of printed but unissued certificates and pending production cases indicates systemic inefficiencies in the workflow and weak monitoring mechanisms,” the Auditor General noted.

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By Prisca Wanyenya

The Uganda Civil Aviation Authority (UCAA) has described its decision to dismiss 82 staff over forged academic documents as a painful but necessary clean-up to protect the integrity and safety standards of Uganda’s aviation sector.

Appearing before the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) on September 8, 2026, during consideration of the December 2025 Auditor General’s report, UCAA Director General Fred Bamwesigye said the Authority has now instituted a 100% verification system for all staff going forward.

“It was a very, very painful exercise. We did it once and finished and we are continuing to do it,” Bamwesigye told the committee. “But before that, we never bothered ourselves, we thought that Ugandans always are very, very honest, especially when you check the original certificates. That was really the problem, but we think that is the past. Going forward, everybody is checked. Now we cannot have such cases.”

Bamwesigye explained that for years, UCAA’s recruitment focused mainly on verifying original academic documents presented by candidates and on specialised industry qualifications, without routinely cross-checking with the awarding institutions.

He said the anomaly was discovered about two to three years ago during a recruitment exercise when the Authority detected forged papers in a new batch, prompting a full organization-wide verification.

“We got them, we are talking about 82 people but the certificates forged were more than one. So, we found so many documents and we began now to be very careful in checking even before we recruit but that was never practised before,” he said.

“Surprisingly, these people who possess industry qualifications failed on those initial academic documents. Someone is actually an accomplished aviation practitioner but when you check backwards at all levels, you find that he has forged papers,” Bamwesigye added.

The matter was raised by COSASE Chairperson Muwada Nkunyingi (Kyadondo East), who questioned whether UCAA had safeguards in its human resource system and why it took years to detect the forgeries.

“Were these people hand-picked and recruited or smuggled on the payroll of civil aviation? How do we have a department of human resource and it takes years to realise that some of these officials forged documents?” Muwada asked.

Sabah Ahmed Kakooza, Director Human Resource and Administration at UCAA, told the committee that all 82 staff were taken through due disciplinary process before dismissal. She dismissed claims of wrongful termination, noting that the affected staff have opted to petition political offices instead of seeking redress in the Labour Court or Industrial Court Tribunal because the evidence of forgery is clear.

“When you’re in such a situation, you continue to seek for a chance to be heard. These people will not rest until maybe one day they get what they are looking for,” Kakooza said.

On what action has been taken to recover public funds, Kakooza revealed that UCAA has withheld terminal benefits for all dismissed staff on grounds that they obtained jobs fraudulently.

“We have not paid the terminal benefits to these people for the period they worked, because they don’t qualify due to the fact that they attained these jobs using forged academic documents. We have 100% complied with our internal processes,” she said.

Bamwesigye told the committee that disciplinary action is routine in aviation due to the sensitive nature of airport operations, including cases of staff aiding smugglers. He stressed that there is no institutional enmity against the dismissed staff, describing many of them as previously best-performing and trained by UCAA.

“Frankly speaking, it was extremely painful, these were a part and parcel of some of our best performing staff. It was very, very, very hard to discuss these matters at various fora because they were in our systems, they had been trained by us,” he said.

The DG welcomed a proposal by Chairperson Muwada to hold a counselling and guidance engagement with the affected former staff to rebuild harmony, assuring the committee that no retaliation or manhunt is being carried out against them.

“There is no personal or institutional enmity between us and these people. If they are looking at us, let them know that, from me at least,” Bamwesigye said.

UCAA said the clean-up has now strengthened its recruitment system and aligned it with International Civil Aviation Organization (ICAO) safety and personnel integrity requirements, which demand that no person with falsified credentials handles aviation safety functions at Entebbe International Airport and other aerodromes.

The post Painful But Bold: How UCAA Cleaned Up Payroll By Sacking 82 Staff With Forged Papers appeared first on Business Focus.

Residents of the Ssese Islands are set to get improved access to formal banking services following the unveiling of a refurbished bank branch in Kalangala District.

The facility, which has undergone a full interior and exterior overhaul with upgraded equipment to improve service delivery, was inaugurated during a tour by top executives of Stanbic Uganda Holdings Limited.

The launch coincided with the group’s 35th anniversary celebrations in Uganda and formed part of its wider strategy to extend reliable financial services to remote and island communities.

Mark Ocitti, Chief Executive of Stanbic Uganda Holdings Limited, who was on his inaugural field tour since his appointment in July, said the revamp reflects the group’s long-term commitment to Uganda.

“As we mark 35 years of operating in Uganda, seeing our anchor subsidiary continue to create shared value for our stakeholders is a true reflection of our core purpose: Uganda is our home, we drive her growth,” Ocitti said.

Mumba Kalifungwa, Chief Executive of Stanbic Bank Uganda, said the focus is on customer experience and inclusion for underserved groups on the islands.

“Customer experience remains at the core of our growth strategy. This refurbishment ensures that our customers in Kalangala enjoy a modern, reliable, and exceptional banking environment. Through our positive impact agenda, we remain fully committed to driving financial inclusion that specifically empowers women, youth, and farmers across these island communities,” Kalifungwa said.

He was accompanied by Sylvia Mulomi, Head of People and Culture, and local leaders.

The Kalangala upgrade is part of a broader countrywide modernization of branches and agency banking points. As Uganda’s largest bank by assets, Stanbic currently operates more than 83 branches and over 7,000 active agents across the country.

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For nearly five decades, Uganda has poured billions of shillings, foreign loans and donor grants into rebuilding its railway. Locomotives from Germany and France, wagons from Belgium, India and East Germany, coaches, Lake Victoria ferries, and a major workshop at Nalukolongo.

But while the investments are documented, what happened to the assets is not.

From the 1977 East African Community breakup to the Rift Valley Railways (RVR) concession and today’s missing wagons, Uganda’s railway records show no continuous account of where the assets ended up.

The 1977 Inheritance: Uganda Got 15%

When the East African Community collapsed in 1977, Uganda Railways Corporation (URC) was formed by decree to take over the affairs of the East African Railways and Harbours Corporation.

To establish what existed, a joint Working Party met in Kampala in December 1982, chaired by Kenya’s D.M.S. Fairweather. Uganda was represented by its Chief Mechanical Engineer, Eng. Sam Kwesiga – who later became Acting Managing Director of URC – and Chief Traffic Manager Charles Karamagi.

The inventory established that the former EARC had 509 coaches and 6,354 wagons. Kenya took 402 coaches and 5,422 wagons. Uganda received only 107 coaches and 932 wagons. In total, Uganda got 1,039 pieces of rolling stock out of 6,863 – just 15%. Documents reviewed by Uganda Radio Network are silent on why the imbalance existed.

Crucially, the Working Party did not account for motive power.

A June 1979 Commonwealth report titled “The Rehabilitation of the Economy of Uganda” fills that gap. Authors David M. Nowlan and Donald F. Peckham noted Uganda inherited 27 steam engines – from which the name “Gari ya Moshi” was derived – and 21 diesel engines.

Only four of the 27 steam engines were serviceable. The steam workshop in Kenya had closed. All 28 were later retired or lost. Former URC workers say some were parked at the Tororo locomotive shed in the 1980s, then dismantled and sold as scrap. Not a single piece was preserved for the Railway Museum in Jinja.

Of the 21 diesel engines, 18 were out of service but being repaired at Tororo with German technicians. The Idi Amin regime had supplemented them with 10 short-range engines from Germany.

On wagons, the report found only 47 covered and 132 open wagons in the country – far short of the 925 Uganda expected after the breakup. To fill the gap, government bought 130 covered and 20 goods wagons from Belgium, 250 covered wagons and 20 coaches from India, and ordered 50 more coaches and 34 service cars from East Germany. It also contracted a Belgian firm to assemble four wagon ferries at Port Bell, each with 800-ton capacity.

Billions in New Fleet and a Workshop

An October 1983 World Bank memo shows the fleet had grown to 62 diesel locomotives. All 28 steam locomotives were now retired. The fleet was described as adequate because it was less than five years old, with 25 tank wagons financed by the European Development Fund on the way.

By 1989, another World Bank appraisal put URC’s fleet at 60 locomotives, with 13 more Class 73 units ordered from German manufacturer Thyssen-Henschel. The breakdown was 48 mainline locomotives and 12 shunters, about 1,500 wagons and 104 coaches. Half the wagons were relatively new, post-1977 purchases. The inherited coaches had been withdrawn.

The appraisal also confirmed the biggest investment after rolling stock: the Nalukolongo Railway Workshop. With EARC’s main workshops in Nairobi now belonging to Kenya Railways, Uganda was left with only two depots in Kampala and Tororo. Tororo was converted from a steam shed for diesel maintenance until Nalukolongo was built.

Commissioned in 1987 with German and French experts, Nalukolongo was designed to handle 150 locomotives. The Commonwealth put its cost at Shs 216 million in 1979 prices – a huge sum then. It included specialised machinery and training to make Uganda self-sufficient in locomotive maintenance.

The Trail Goes Cold

The paper trail becomes fragmented after this point.

When RVR took over on November 1, 2006, IFC documents recorded URC’s assets as 44 locomotives and 1,433 wagons – 16 locomotives short of the 1989 figure. Some had been involved in accidents, others retired.

Under KfW-supported programmes, 562 freight wagons were overhauled in two phases, including 197 wagons between May 2002 and June 2003. But former Nalukolongo workers told URN the workshop suffered severe stripping in the late 1990s and early 2000s as its management changed from URC to Adtranz, to Bombardier, and later RVR. The emerging steel mills created a market for scrap. URC lost the entire Busoga railway line through Iganga, Mbulamuti, Kaliro and Jinja to scrap dealers. Sources say wagons and engine parts were sold as scrap.

At concession start, RVR was given 43 locomotives: six Class 36, six Class 62, two Class 71, 24 Class 73 and five Class 82. Only 16 were operational.

A joint verification by URC and RVR in June 2012 found 1,321 wagons: 21 high-open, 473 covered, 200 fuel-tank, 513 flatbed-container, 34 low-open, 51 ballast-hopper and 29 others. By October 2014, 365 had been rehabilitated under KfW funding, while RVR acquired four Class 96 locomotives in 2014 and 240 new flat wagons in 2015/16.

But there is no public, asset-by-asset bridge showing which individual wagons and locomotives were returned to URC when the concession ended. The 2006 documents give a number, not a register with wagon numbers, types, condition and disposition.

The Works and Transport Sector Development Plan 2015/16-2019/20 provides snapshots, but not a continuous ledger from purchase to retirement, disposal or sale as scrap. URN also failed to trace two motor vessels for Lake Victoria island services that were listed as refurbished in 1989.

Why It Matters Now

The gap is now a parliamentary issue. The Physical Infrastructure Committee has raised questions about the whereabouts and disposal of railway wagons, including allegations that wagons were routed through a “virtual station” in Nyahururu, Kenya.

The history is not simply one of wagons disappearing. It is a story of massive public investment followed by ageing, rehabilitation, retirement, concessioning, transfer and incomplete documentation.

The unanswered question for our readers is not just where the wagons went. It is what happened to the billions invested over 50 years – in locomotives, wagons, ferries, workshops and technical assistance – and why Uganda Railways Corporation cannot produce a continuous ledger to account for them.

-URN

The post The Ghost Fleet: How Uganda Bought 1,500 Wagons and 60 Locomotives But Can’t Account For Them appeared first on Business Focus.

As Uganda’s financial sector continues to evolve, driven by growing pension savings, collective investment schemes, and increased participation in capital markets, one critical yet often underappreciated service is playing a central role in safeguarding investor wealth. While the term custodial services may sound technical, these services are fundamental to protecting investments, enhancing transparency, and strengthening confidence in Uganda’s financial system.

Behind every pension contribution, unit trust investment, government bond purchase, or corporate security lies a custodian ensuring that investors’ assets are safe, properly accounted for, and managed in line with regulatory requirements.

Who Regulates Custodial Services in Uganda?

Custodial services operate within a tightly regulated framework designed to protect investors and maintain market integrity. In Uganda, custodians are licensed and supervised by key regulators, including the Capital Markets Authority (CMA), which oversees capital market activities, and the Uganda Retirement Benefits Regulatory Authority (URBRA), which regulates retirement benefits schemes. In addition, the custodians are domiciled within licensed banking institutions, and their activities are subject to oversight by the Bank of Uganda, which regulates and supervises banks. Custodians also comply with requirements issued by securities depositories and other market infrastructure institutions.

This robust regulatory oversight ensures that investor assets are held independently, transactions are properly recorded, and financial institutions adhere to the highest standards of governance, risk management and accountability.

What Is the Role of a Custodian?

A custodian is an independent financial institution trusted to safely hold and administer investors’ assets, such as government securities, shares, bonds, pension fund investments and unit trusts.

A custodian does more than keep assets safe, they help complete investment transactions, receive income such as dividends and interest, update ownership records, check investment balances and provide reports to investors and regulators. In simple terms, it is like a trusted record keeper who ensures every investment is received, recorded and accounted for.

This independence is important because it separates the people who manage investments from the institution that holds them. Like keeping house keys with a trusted caretaker rather than the tenant, this separation helps reduce fraud, errors and misuse of investor funds.

Why Custodial Services Matter

Uganda is at a pivotal stage of financial development. Pension funds, insurance companies, asset managers and collective investment schemes are managing increasingly larger pools of capital, creating a need for stronger financial infrastructure.

Custodial services safeguard investor assets by ensuring they are held securely and separately from the assets of service providers. This means that regardless of challenges faced by an institution, investor assets remain protected.

Custodians also provide independent oversight of investment transactions. Every trade is verified, reconciled and accurately recorded, reducing operational risks and enhancing transparency. This visibility enables regulators, trustees, fund managers and investors to make informed decisions while promoting confidence in Uganda’s capital markets.

In addition, custodians facilitate the efficient functioning of financial markets by supporting trade settlement, asset servicing and investment participation across local and international markets. Their presence is widely regarded as a hallmark of a mature and trustworthy financial system.

Who Are the Typical Clients of Custodial Services?

Custodial services usually work behind the scenes, but they serve clients whose investments affect many Ugandans.

Typical clients include pension and retirement benefits schemes, unit trusts, insurance companies, asset managers, corporate institutions, government entities, high-net-worth individuals and other institutional investors.

Through these clients, custodians help protect the retirement savings, insurance funds and investment portfolios of ordinary Ugandans.

How Do Custodial Services Benefit an Ordinary Ugandan?

Many Ugandans may never meet a custodian, but they benefit from the protection custodians provide.

For example, when a worker contributes to a pension scheme, a custodian helps ensure that the savings are safely held and independently monitored. When someone invests in a unit trust or government security, the custodian helps ensure the investment is properly recorded and reconciled.

At a national level, strong custody services attract more investment, support business growth, and strengthen confidence in Uganda’s financial markets. This can contribute to jobs, economic growth, and broader financial inclusion.

Simply put, custodial services help ensure that when Ugandans invest for the future, their money is protected, properly recorded and independently checked.

What New Innovation Is Centenary Bank Bringing to the Custody Market?

Centenary Bank is entering the custody market with solutions aimed at improving access, transparency, and confidence for investors.

Through its custodial services, the Bank will support different investment products and institutional investors while using technology to improve safekeeping, reporting, transparency, and efficiency.

This is an important step for Uganda’s financial market. By combining its national presence, governance standards and technology-led service model, Centenary Bank aims to provide investors with a trusted local partner for custody services.

A Catalyst for Uganda’s Financial Transformation

As Uganda continues to grow its savings and investment culture, custodial services will become even more important. They provide the trust and structure needed for long-term savings, institutional investment and capital market growth.

Think of custodial services as the quiet security system behind an investment. The investor may not see it every day, but it protects assets, supports accountability and helps the market operate with confidence.

In simple terms, custodial services are not just a back-office function. They are a key part of financial trust. They help ensure that every shilling entrusted for investment is protected, accounted for, and positioned to grow.

The writer is the Manager Custodial Services, Centenary Bank

The post What Custodial Services Mean for Ugandans and Why They Matter appeared first on Business Focus.

The Uganda Civil Aviation Authority (UCAA) has defended the UGX 5.39 billion spent on a new fire truck for Entebbe International Airport, insisting the equipment is not an ordinary vehicle but a highly specialised engineering plant without which no international airline can land in Uganda.

The Authority made the defence before the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) on Tuesday, during scrutiny of the December 2025 Auditor General’s report.

Samuel Wonekha, General Manager – Regional Airports, told the committee chaired by Muwada Nkunyingi (Kyadondo East) that the procurement was done after benchmarking with sister airports in the region and that Uganda actually secured a lower price.

“In procuring specialised equipment, we do a lot of collaboration around sister airports and I want to clearly confirm to you that we bought this fire truck at a lower cost than others buy it in the region, through our negotiations,” Wonekha said. “Aviation is not cheap. Most of the specialised equipment is very expensive and without them, you cannot meet international standards. You will have to go for them and ensure that you have them, that is when airlines will operate into and out of your country, you have no option.”

COSASE had tasked UCAA to provide evidence of ownership, cost and functionality of the fire truck stationed at Entebbe.

Fred Bamwsigye, Director General at UCAA, informed the committee that the truck is owned by UCAA, registered as UA38070AA on June 22, 2026, manufactured in Turkiye under the Lion brand.

The debate arose after Hassan Musinguzi, Director Finance at UCAA, described the equipment as an engineering plant and not just a fire truck, costing UGX 5,398,500,000, prompting Chairperson Muwada to question why a single vehicle would cost UGX 5.3 billion.

“What do you mean by engineering plant? We saw a truck. It was moving on tyres. It is registered as a motor vehicle,” Muwada queried. “Assist us to understand why one truck could cost UGX 5.3 billion. What is the uniqueness?”

Wonekha explained that what appears as a truck is in fact a complex rescue system with multiple integrated components for aircraft fire and rescue operations.

“You will have components that carry foam. There will be a tank of up to almost 12,500 litres that carries water, which gets mixed with foam in case of an advanced fire,” he explained. “We have equipment on it that will be used to access the aircraft in case people are trapped inside and you have to cut it open to evacuate people. It is mounted with a specialised generator to power the cutting equipment. You have to assemble it very quickly to access different tools that cut through the aircraft.”

UCAA stressed that such specialised Airport Rescue and Fire Fighting (ARFF) vehicles are a mandatory requirement by the International Civil Aviation Organization (ICAO) and without them, Entebbe International Airport would be downgraded and international carriers would be barred from operating.

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Thousands of nursery school teachers risk being pushed out of the classroom because the certificates they hold cannot be used to upgrade to the qualifications now required of them.

Under new education standards, teachers must upgrade or lose their jobs. But for many, the problem starts with the very papers meant to prove they are trained. The institutions that issued them are not recognised by the government, so the certificates cannot count toward further study.

Alice Nakamoga, a nursery teacher from Wakiso, found this out when she tried to enroll for a diploma in pre-primary education. She was told her certificate came from an unaccredited institution and was worthless for the upgrade.

“I don’t know what to do now,” she said on the sidelines of a ministry workshop on early childhood education policy. “It seems the paper I have used for years as a teacher is fake. I cannot upgrade to the diploma or degree required by the ministry.”

Nakamoga is not alone. Government has rolled out scholarships to help certificate-holders progress to diploma level at public colleges, but uptake has been low.

Dr Safina Mutumba, assistant commissioner in charge of pre-primary education at the Ministry of Education and Sports, said the ministry had been puzzled by the low numbers of nursery teachers upgrading. She added that on digging deeper, they found that many teachers applying for upgrading were ineligible, as their original training had come from institutions that were never properly accredited in the first place.

Available data shows the gap between opportunity and uptake has been worrying. For instance, in 2023, government offered 1,980 scholarships to nursery teachers, but only 683 enrolled, a take-up rate of 34.5 percent. The following year, the picture worsened, as of 2,300 scholarships offered in 2024, only 605 teachers enrolled, just 26.3 percent.

The problem traces back to how nursery teacher training developed. Primary school teachers have long followed a structured pathway supervised by government, anchored at Kyambogo University and a network of Primary Teachers’ Colleges.

Training for nursery teachers, by contrast, was left almost entirely to the private sector with little oversight. Institutions used that gap to set their own curricula and admission requirements, and many issued certificates without accreditation from any recognised body. Years later, teachers who built careers on those papers are learning their qualifications do not officially exist.

In 2019, government issued a National Teacher Policy requiring all teachers, from nursery through secondary level, to hold at least a bachelor’s degree, with a ten-year window to comply. Teachers who miss the deadline risk being phased out altogether.

The newer Early Childhood Care and Education Policy draws a sharper line between two roles nursery schools had long blurred together: teachers, who handle structured learning for children aged three to six, and caregivers, who provide basic care, safety and stimulation, mainly for younger children, without teaching duties. Both roles now require registration and licensing.

Dr Mutumba said that for teachers whose training came from unrecognised institutions, the ministry is preparing guidance to reclassify them as caregivers rather than remove them from schools entirely.

The Assistant Commissioner added that over time, the ministry envisions creating pathways for these affected persons under the National Qualifications Framework, including mechanisms to recognise prior learning, that will let them work toward properly recognised qualifications.

Because the pre-primary sub-sector is largely private and historically under-regulated, exact national figures on teacher qualifications are hard to pin down. What research exists is grim. A survey of more than 4,000 early childhood teachers, cited by Dr David Kabugo, formerly of Makerere University’s Institute of Teacher Education and Research, found 78 percent lacked basic qualifications.

Separate ministry-linked data suggests only about half of pre-primary teachers have relevant training. In Kampala, few teachers hold degrees as most have only certificates in nursey teaching, some hold Grade III teachers certificates, with a smaller shareholding diplomas.

Meanwhile, Uganda Radio Network understands that even teachers with recognised qualifications often cannot afford to upgrade.Robinah Mukasa, a nursery schoolteacher, said most teachers at this level work in private schools earning between 200,000 shillings and 300,000 shillings a month, sometimes less, leaving little to self-finance further study.

“One other reason why nursery teachers are not upgrading is that they don’t have the finances to enable them to. Most of them are women, and they don’t see any benefit to upgrading given the salary they are earning, and government is not recruiting nursery teachers currently,” she noted.

Jossy Busiku, the Chairperson of the National Private Education Institutions Association (NPEIA) in Kampala, called upon government to expand sponsorship and other options that let teachers upgrade without quitting their jobs.

Pushback on the degree requirement

The blanket degree requirement for nursery teachers has drawn sustained opposition. Private school proprietors, teacher associations and some MPs argue the standard is unrealistic, as the sector is dominated by private providers, how limited public funding for early childhood education remains, how low pay is across the profession, and the practical, play-based nature of early learning itself.

Parliament debated softening the rule during deliberations on the National Teachers Bill, with proposals to ease the degree requirement for pre-primary teachers or give the National Teachers’ Council more flexibility in setting standards. Those efforts failed. The Bill that eventually passed did not include the softened provisions.

Supporters of the higher-qualification push, including university academics and some ministry officials, argue early childhood education is the foundation of the entire school system, and that better-trained teachers produce better learning outcomes, pointing to international practice as precedent.

-URN

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