Uganda Roundup: Young presidential hopeful, $500bn GDP target, Nile talks

20-year-old launches 2026 presidential bid

Jorine Najjemba, a 20-year-old senior six graduate from Nkowe, has formally entered Uganda’s 2026 presidential race. On August 11, she picked nomination forms, declaring herself a fresh alternative to the current leadership under the slogan Open Door, New Uganda for Everyone. Najjemba said she developed her political ambition in 2016 while in primary six and expressed confidence in her ability to bring change despite her age and gender.

Government targets $500bn GDP by 2040 through agriculture

Uganda aims to grow its GDP from $50 billion to $500 billion by 2040, with agricultural financing at the core of its strategy. Bank of Uganda Governor Michael Atingi-Ego told the Propagate Summit in Munyonyo that private sector credit, currently at UGX 26 trillion, must rise to UGX 260 trillion to meet the goal. He emphasised the importance of digital tools like financial passports to unlock funding and transform farmers’ livelihoods.

UK export agency backs quarry and asphalt project

UK Export Finance has guaranteed a £5.29 million loan to Ugandan firm IBBI from the London Forfaiting Company, enabling the purchase of UK-made machinery for a granite quarry and asphalt plant. The project, supported by Rainbo and Neba Freight Ltd, is expected to boost infrastructure development and build on IBBI’s engineering work across East and Central Africa.

Museveni discusses Nile link with Egypt

Speaking in Cairo on August 12, President Yoweri Museveni said meeting the electricity, irrigation, and water needs of all Nile Basin countries is key to regional prosperity. He revealed discussions with Egyptian President Abdel Fattah El-Sisi on linking Uganda to the Mediterranean via the River Nile, potentially connecting Kampala to Alexandria.

MTN Uganda posts strong revenue growth despite profit dip

MTN Uganda reported a 13.1% rise in total revenue to UGX 1.722 trillion ($483.68mn) for the first half of 2025, driven by growth in data and fintech services. Data revenue rose 31.3% to UGX 490.2bn, while fintech revenue climbed 18.6% to UGX 524.6bn. Profit after tax fell 9.7% to UGX 267bn due to a one-off tax settlement, but underlying profit increased 27.8%. Subscriber numbers grew 10.2% to 22.8 million, with significant gains in data usage.