Uganda has taken a major step towards establishing its own currency printing facility following the signing of a Memorandum of Understanding between the Uganda Security Printing Company (USPC) and German-based K&B Banknote Solutions.
The MoU, signed at the Office of the President and witnessed by Minister for the Presidency Hon. Babirye Milly Babalanda, provides a framework for technical, security, feasibility and commercial studies that will guide the establishment of the facility.
Minister Babalanda said the project is important for Uganda’s national sovereignty, value addition and capacity building. She emphasized that Uganda should develop the ability to produce important national documents and currency locally while giving Ugandan engineers and technicians opportunities to acquire advanced security-printing skills.
She directed that skills transfer should be central to the partnership, with Ugandan engineers involved in planning, installation, testing, commissioning and operation of the facility.
Minister for the Presidency Hon. Babirye Milly Babalanda
The project is aligned with Uganda’s NRM Manifesto 2026–2031, the Fourth National Development Plan (NDP IV) and Uganda Vision 2040, particularly in the areas of industrialisation, employment, technological development, science and innovation.
Babalanda also called for strong coordination, monitoring and accountability involving the Bank of Uganda, Ministry of Finance, Attorney General’s Chambers and relevant security agencies. She warned against unnecessary delays, poor procurement practices and actions that could undermine the national interest.
She urged K&B Banknote Solutions to share its technical expertise with USPC and support access to cheaper financing to accelerate implementation. She also expressed confidence in K&B’s international reputation and commitment to the project. The signing of the MoU now paves the way for feasibility studies and commercial negotiations aimed at establishing Uganda’s first sovereign currency printing facility, which is also expected to serve regional demands.
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