𝗨𝗴𝗮𝗻𝗱𝗮 𝗦𝗵𝗶𝗹𝗹𝗶𝗻𝗴 𝗦𝗵𝗶𝗻𝗲𝘀 𝗔𝗺𝗼𝗻𝗴 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝘀𝘁 𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝗶𝗲𝘀

The Uganda shilling emerged as one of Africa’s best-performing currencies in the 2024/25 financial year, highlighting the country’s growing economic resilience and improving macroeconomic stability.

According to government and Bloomberg data, the shilling appreciated strongly against the US dollar, outperforming many regional and continental peers. The currency gained support from disciplined fiscal management, low inflation, rising foreign exchange reserves, and booming export earnings.

Uganda’s thriving coffee sector played a major role in the shilling’s impressive performance, with coffee exports generating record revenues of over $1.6 billion during the year. Increased earnings from gold exports, remittances, and portfolio inflows also strengthened the country’s foreign exchange position.

Economic growth remained robust at 6.3 percent, boosting investor confidence as Uganda prepares for the anticipated start of oil production later this year. Analysts say the shilling’s stability has helped keep inflation under control while enhancing confidence in the economy.

Government officials described the currency’s performance as a clear sign of Uganda’s economic resilience and sound financial management, with the country standing out among East African economies whose currencies weakened during the same period.

While experts note that maintaining the momentum will require continued export growth and prudent spending, the Uganda shilling’s strong showing has positioned Uganda among Africa’s rising economic success stories.