UGANDA TAKES MAJOR STEP TOWARDS ESTABLISHING SOVEREIGN CURRENCY PRINTING FACILITY

Kampala, Uganda – In a significant move towards bolstering national sovereignty and industrial capacity, the Ugandan government has today taken a crucial step in the establishment of a domestic currency printing plant. The signing of a Memorandum of Understanding (MoU) between the Uganda Security Printing Company (USPC) and Germany’s global currency printing giant, K&B Banknote Solutions, sets the project in motion.

The event, held at the Office of the President’s Minister’s Boardroom, marks the beginning of a collaborative journey to establish a Sovereign Currency Printing Facility in Uganda. The ceremony brought together senior officials from the Office of the President, Uganda Printing and Publishing Corporation (UPPC), USPC, and a delegation from K&B Banknote Solutions, alongside other key stakeholders.

Presiding over the signing, the representative conveyed warm greetings from His Excellency President Yoweri Kaguta Museveni, the First Lady and Minister of Education and Sports, Maama Janet Kataaha Museveni, and the entire staff of the Office of the President.

In his remarks, he warmly welcomed the partners from K&B Solutions to Uganda and expressed gratitude for the initiation of this strategic collaboration. “As we begin on this journey, we expect the MoU to provide a framework for the technical, security, feasibility and commercial work that will guide Uganda towards the final establishment of the printing plant,” he stated.

A Vision Rooted in Sovereignty and Value Addition

The project is a direct implementation of President Museveni’s long-standing vision, anchored on three fundamental principles:

National Sovereignty: Uganda must possess the capacity to produce critical instruments of the State locally, including currency, passports, national identity cards, and academic certificates.
Value Addition: The nation must utilize its labour, skills, and resources to manufacture high-value goods and services locally, reducing dependence on imported finished products.
Capacity Building: Uganda is committed to providing its youth, engineers, and technicians with opportunities to acquire modern skills and work with advanced security-printing technology. “We are not simply installing machines; we are building a national capability,” the official emphasized.

Skills Transfer and Youth Empowerment

As the government moves towards a final agreement with K&B Banknote Solutions, skills transfer has been identified as a central pillar of the partnership. Ugandan engineers and technicians are expected to be involved from the very beginning, working alongside specialists during planning, installation, testing, and commissioning to gain the practical expertise needed to operate and maintain the facility.

Notably, the official highlighted that K&B operates an academy that imparts technical skills to youth operating their machinery, expressing optimism that Ugandans will tap into this opportunity for professional development.

Alignment with National Development Priorities

The initiative is fully aligned with Uganda’s broader development agenda, including:

· The NRM Manifesto 2026-2031, which emphasizes industrialization, production, and economic transformation through high-technology, skills-intensive manufacturing.
· The Fourth National Development Plan (NDP IV), focusing on sustainable industrialization, employment creation, wealth generation, and innovation in science and technology.
· Uganda Vision 2040, which aims to transform Uganda into a modern and prosperous nation through robust industrial and technological capabilities.

Multi-Sectoral Oversight and Monitoring

To ensure the project remains on track, the Office of the President and USPC will establish a multi-sectoral technical committee. This committee will bring together critical stakeholders, including the Bank of Uganda, the Ministry of Finance, Planning and Economic Development, the Attorney General’s Chambers, and relevant security agencies. The committee’s mandate will be to establish a formal monitoring arrangement to regularly measure progress against agreed roadmap milestones.

The USPC team was urged to remain focused on the objectives of the joint venture agreement for the good of the nation.

“For God and my country!”