The Bank of Uganda (BoU), in collaboration with the Ministry of Finance, Planning and Economic Development (MoFPED), has launched the pilot phase of Project Okusevinga, Africa’s first government-owned unit trust scheme.
The initiative aims to broaden access to safe and affordable investment opportunities for Ugandans using mobile technology. The pilot, which began on December 17, will allow participants to test the platform’s end-to-end functionality, including registration, investment transactions, and balance inquiries, ahead of a full public rollout in 2026.
During the pilot launch, Permanent Secretary and Secretary to the Treasury (PSST) Dr Ramathan Ggoobi highlighted the project’s potential to reach previously underserved populations.
“The use of digital platforms such as Okusevinga will enable the Government to reach out to segments of the population that otherwise would not be easily reached through conventional means, including rural communities and the Diaspora,” Dr Ggoobi said.
He further explained that the scheme would not be limited to government securities. “In addition to securities, the Government will leverage this infrastructure to mobilise retail pensions, contributions towards insurance products, and other mass resource mobilisation efforts,” he added.
Dr Ggoobi also emphasised the project’s role in promoting a culture of saving and increasing domestic revenue. “As our economy grows and as we pursue our tenfold growth agenda, we must identify alternative revenue sources, particularly from the domestic financial market. Okusevinga will also lower Government borrowing costs,” he said.
“Once the project is publicly rolled out in 2026, the project will allow one to invest in government securities with as low as UGX 10,000 using mobile money,” noted Bank of Uganda Governor Michael Atingi-Ego. “Okusevinga aims to transition informal savings into regulated, low-risk investment instruments, enhancing household financial resilience while deepening domestic capital markets.”
The initiative builds on Uganda’s progress in financial inclusion, where 81% of adults now have access to financial services, largely through mobile money, according to the FinScope Uganda 2023 Survey.
The pilot phase has been supported by partners including the Capital Markets Authority, Uganda Communications Commission, National Information Technology Authority, Financial Sector Deepening Uganda, Uganda Investment Authority, and Airtel Uganda. MoFPED and BoU will continue stakeholder engagement, strengthen financial literacy efforts, and refine the platform ahead of its public launch in early 2026.
