Uganda’s Top Financial Institutions to Be Inducted into Development Champions Journal

Uganda’s financial sector is set to recognize its best-performing institutions through the upcoming 2025/2026 Uganda Development Champions Journal, an initiative that highlights banks, insurers, and microfinance institutions contributing to national growth.

The journal, launched in June 2025 by Speaker of Parliament Rt. Hon. Anita Annet Among, will profile leading institutions that demonstrate responsible investment practices and alignment with Uganda Vision 2040 and the United Nations Sustainable Development Goals (SDGs),

Recognizing Responsible Investment

Institutions selected for induction are expected to show a strong track record in areas such as:

• Paying taxes and promoting transparency
• Fighting corruption
• Protecting the environment
• Supporting impactful corporate social responsibility (CSR)
• Employing Ugandans and safeguarding workers’ rights

Alongside being featured in the journal, winners will receive the Responsible Investment Global Certification Award, a recognition given to organizations and leaders championing sustainable development.

Growth in Banking, Insurance, and Microfinance

Uganda’s financial sector has shown resilience despite global economic challenges. According to Bank of Uganda, loans to the private sector continue to rise, while banks have recorded steady growth in assets, deposits, and net profits.

The insurance industry also remains on an upward trend, with gross written premiums increasing by over 13% in 2024. A key reform in the sector is the rollout of a local marine insurance platform, effective February 2025, which is expected to boost revenue and expand coverage.

Meanwhile, the microfinance sector, comprising more than 1,000 institutions, plays a crucial role in serving low-income households. The Uganda Microfinance Regulatory Authority (UMRA) has strengthened oversight to enhance consumer protection and expand financial inclusion, especially through digital financial services.

Building Towards Uganda’s Economic Future

Uganda’s economy grew by 6.1% in FY2024 and is projected to rise slightly to 6.2% in FY2025, with further acceleration expected once oil production begins in 2027. The financial sector remains a cornerstone of this growth, providing credit, insurance, and savings platforms that support businesses and households alike.

By recognizing outstanding institutions, the Uganda Development Champions Journal aims to inspire higher standards across the industry and encourage more players to adopt sustainable, transparent, and socially responsible practices.

Nominations are ongoing, and the public can recommend institutions through Public Opinions Uganda, the field-based firm coordinating the project.