Deputy Governor Bank of Uganda – Prof. Augustus Nuwagaba unveiling the dashboard-Today
Kampala — The Bank of Uganda, in collaboration with the International Fund for Agricultural Development (IFAD) East Africa, has launched an interactive remittance dashboard aimed at improving transparency, access, and understanding of remittance flows into the country.
The dashboard, unveiled by Deputy Governor Prof. Augustus Nuwagaba, sets a new benchmark for publicly available data on remittance markets and is expected to strengthen policy planning, financial inclusion, and economic decision-making.
Speaking at the launch, Prof. Nuwagaba described remittances as a critical lifeline for Uganda’s economy and households, emphasizing their growing importance as a stable source of foreign exchange.
“Remittances are a lifeline; they are more than statistics. They represent the sacrifices of Ugandans abroad who work hard to earn this money. They provide for families and households both formally and informally and have proven to be a sustainable source of foreign currency inflows, competing with other sources such as coffee and tourism, which supports our Balance of Payments,” he said.
The Deputy Governor noted that the new dashboard will enable policymakers, researchers, financial institutions, and the public to easily access reliable and timely remittance data, thereby improving monitoring of financial flows and supporting evidence-based policy interventions.
According to the Bank of Uganda, the enhanced remittance data collection framework significantly expands coverage by capturing data from a wider range of remittance service providers across the financial sector. The system also introduces more frequent transaction-level reporting, which improves accuracy and visibility of remittance inflows.
Prof. Nuwagaba described the improved framework as a major milestone in Uganda’s financial data management, noting that it has already helped capture significant remittance activity that was previously not recorded.
“This is a fundamental achievement in strengthening our financial data ecosystem and ensuring that all remittance flows are properly captured and analyzed,” he said.
Officials from IFAD East Africa commended the partnership with the central bank, noting that improved remittance data will support financial inclusion, reduce transfer costs, and enhance investment opportunities for Ugandans both at home and in the diaspora.
The new interactive dashboard is expected to support government efforts to harness remittances for national development, improve financial sector efficiency, and strengthen Uganda’s balance of payments through better monitoring of foreign currency inflows.
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