Category: Uganda News

Uganda News

Uganda’s Forests Are Proving That Climate Finance Can Work, If The World Is Paying Attention

Uganda’s forests are emerging as a compelling example of how climate finance can deliver measurable results when backed by strong governance, credible data, and long-term policy commitment. Despite decades of deforestation driven by agriculture and energy demand, Uganda has shifted toward a coordinated national approach aligned with its REDD+ Strategy and Paris Agreement commitments. Since 2022, the country has protected approximately 2.5 million hectares through improved forest monitoring, enforcement, and sustainable land-use initiatives. With robust systems for measurement, reporting, and verification, Uganda is well positioned to benefit from emerging mechanisms like the Tropical Forest Forever Facility (TFFF), which prioritizes performance-based, long-term financing. While challenges remain, Uganda’s experience demonstrates that climate finance can work at scale when transparency, accountability, and community engagement are in place.

Malengo Secures $12.9 Million from The Shapiro Foundation to Expand International Education Pathways & Financial Security

Malengo, a non-profit organization empowering young people in East Africa through international education, has secured $12.9 million in impact funding from The Shapiro Foundation to expand vocational training and university programs for low-income students and refugees in Kenya, Uganda, and Rwanda. Founded by Cornell University Professor Johannes Haushofer, Malengo enables educational migration to Germany, helping students move from living on $1.40 a day to earning over $40,000 annually. The investment will scale Malengo’s income share agreement (ISA) model, creating sustainable education and financial pathways that reduce poverty and boost community development.

Premier Credit Uganda Secures $1.5 Million Investment from Swiss Impact Asset Manager Enabling Qapital

Premier Credit Uganda, a subsidiary of Platcorp Group, has secured a $1.5 million investment from Enabling Qapital, a Swiss impact asset manager, to expand financial inclusion in Uganda. The funding will scale microfinance services, support SMEs, and extend access to credit for women, youth, and rural communities, reinforcing Platcorp’s leadership in sustainable finance across Africa.

Africa’s Leading Music Festival A ‘Driver Of Economic Growth’ For Uganda, Government Report Finds

A new report from Uganda’s Ministry of Tourism has lauded the Nyege Nyege festival as a major economic engine for Uganda, underscoring its transformative impact on the local economy, community development, and tourism. The 2024 event generated over $2 million in economic contributions, with local businesses, especially in food, beverage, and accommodation sectors, reaping the rewards. The festival not only created thousands of jobs but also enhanced Uganda’s cultural and tourism profile, drawing international visitors and solidifying Jinja as a must-visit destination. Nyege Nyege’s growing success is positioned to continue boosting Uganda’s economy and tourism sector well into the future.