Finance Industry

In Uganda, the financial services industry is predominantly led by the banking sector, with additional roles played by the insurance, microfinance, and investment sectors. The financial system includes formal, semi-formal, and informal institutions, and encompasses financial markets and payment systems that facilitate capital allocation and transactions.

Financial inclusion has significantly improved, with 78% of adults included in 2019, up from 54% in 2006. Formal financial inclusion rose to 58% from 28% in the same period. Credit to the agricultural sector grew from 10.04% in 2015 to 13.33% in FY 2019/20, and the Uganda Agriculture Insurance Scheme had 174,806 beneficiaries by December 2019. Private sector credit as a percentage of GDP also increased, from 11.7% in FY 2017/18 to 12.3% in FY 2019/20.

With our extensive experience in key financial hubs, we assist organizations in the financial services sector with navigating complex reporting, governance, and regulatory challenges to achieve their business goals.