Uganda's currency depreciation stems primarily from NGO sector decline following the May 2026 Sovereignty Act, which triggered $250 million annual dollar inflow loss, deregistered 87 organizations, and prompted international donors to relocate operations elsewhere.
Uganda's President Museveni signed the Protection of Sovereignty bill criminalizing foreign influence activities, imposing up to 10 years imprisonment for violations, though lawmakers softened provisions threatening remittances and development work after economic institutions warned of potential harm.
Kenya, Uganda, and Namibia held interest rates steady this week amid geopolitical oil-price pressures, with central banks balancing inflation risks against economic growth while assessing whether energy shocks will trigger broader price increases.
Bank of Namibia Governor Ebson Uanguta visited Kenya, Rwanda, and Uganda, signing cooperation agreements focused on digital transformation, financial supervision, and oil management, strengthening East African central bank collaboration.