Uganda is celebrating an extraordinary economic milestone that has captured international attention. The East African nation's shilling has been officially recognized as the most stable currency in the world, a stunning achievement that places it ahead of traditional powerhouses like the UK Pound Sterling and the Hong Kong dollar.

Ramadhan Ggoobi, Permanent Secretary and Secretary to the Treasury at Uganda's Ministry of Finance, shared this exciting news during a quarterly briefing in Kampala. The shilling didn't just hold steady, it actually appreciated by 2.45 percent in the year ending December 2025, demonstrating remarkable resilience against major international currencies, particularly the US dollar.

This currency stability represents far more than just numbers on a chart. It signals economic confidence that touches the lives of everyday Ugandans, making it easier for businesses to plan ahead, helping families feel more secure about their futures, and attracting investors who see Uganda as a reliable place to grow their ventures.

What makes this achievement even more impressive is that Uganda accomplished it while navigating the choppy waters of global economic uncertainty and an election year, a time when currencies typically experience volatility. Instead, the nation posted robust economic growth of 6.3 percent in the 2024/25 financial year, with projections climbing even higher to between 6.5% and 7% for the current year. Looking ahead, double-digit growth appears on the horizon.

The Ripple Effect

The stability of Uganda's currency is creating waves of positive impact across multiple sectors of society. Perhaps most notably for families, inflation has remained remarkably low at just 3.1 percent, an unusual accomplishment during an election period. This means Ugandans have been able to stretch their money further and worry less about rising prices eating into their budgets.

The government's strategic approach deserves recognition. By investing heavily in food production, implementing effective monetary policy, and establishing direct fuel importation through the Uganda National Oil Company, officials created a framework that keeps prices stable and predictable. Over the past decade, Uganda recorded the lowest inflation rate in Africa, a testament to consistent, thoughtful economic management.

The export sector tells an equally uplifting story. Uganda's businesses and farmers earned $13.4 billion from exports of goods and services in the 2024/25 financial year, showing that the country's products are competitive and valued on the world stage.

Perhaps most remarkable is the dramatic turnaround in Uganda's financial position. The country achieved a balance of payments surplus of $2.37 billion, the highest in 15 years and a complete reversal from the previous year's deficit. Foreign investors are clearly taking notice, with direct investment reaching $3.5 billion and portfolio investments hitting $1.7 billion.

Ugandans living abroad are also contributing to this success story, sending home $1.6 billion in remittances, up significantly from $1.1 billion just four years earlier. This demonstrates both the global reach of Uganda's diaspora and their confidence in sending money back home.

With the economy projected to reach $68.4 billion in size this financial year, Uganda is proving that strategic planning, smart policy decisions, and steady leadership can create prosperity that lifts entire nations.