Public Opinions has been conducting a countrywide survey to determine the best banking institutions, insurance companies, and microfinance institutions in Uganda to be inducted into the prestigious 2025/2026 Uganda Development Champions Journal.
This journal was officially launched in June 2025 by the Rt. Hon. Anita Annet Among, Speaker of the Parliament of Uganda.
The best-performing banks, microfinance institutions, and insurance companies will also receive the Responsible Investment Global Certification Award. Their profiles will be featured on the Public Opinions website for one year and shared across over 2,000 WhatsApp groups managed by Public Opinions.
To qualify for induction into the Uganda Development Champions Journal, a bank, insurance company, or microfinance institution must be nominated through Public Opinions’ survey and officially informed.
The institution must demonstrate a strong commitment to the principles of responsible investment, Uganda Vision 2040, and the United Nations Sustainable Development Goals (SDGs).
The journal accredits companies that promote and uphold international best practices, such as paying taxes, maintaining zero tolerance for corruption, protecting the environment, supporting impactful corporate social responsibility (CSR), employing Ugandans, and respecting workers’ rights.
The Government of Uganda, under the leadership of President Yoweri Kaguta Museveni, has invested heavily in the development of the financial sector as a foundation for the country’s socio-economic transformation.
Over the years, Public Opinions has recognized outstanding companies in partnership with the Office of the Minister of State for Privatization and Investment, Hon. Evelyn Anite. Public Opinions also honored President Museveni with the Responsible Investment Global Certification Award, recognizing him as Uganda’s Peace and Development Champion, at a ceremony he personally attended.
Uganda’s banking sector is experiencing robust growth and increasing resilience, supported by technological advancements, regulatory reforms, and a strong economic recovery. As of March 2025, total bank assets and deposits are growing steadily, with improved loan quality and strong liquidity.
The sector, dominated by foreign-owned banks, is well-capitalized and plays a vital role in the country’s economic development. Between March 2023 and March 2024, the sector recorded significant growth in total assets, deposits, and net profits.
Over the years, some of the banks recognized by Public Opinions include Standard Chartered Bank, Centenary Bank, Diamond Trust Bank, and Bank of Baroda.
The insurance industry also continues to register strong growth. In the first three quarters of 2024, the total gross written premium reached UGX 1.39 trillion in the third quarter, compared to UGX 1.23 trillion over the same period in 2023—an increase of 13.51%.
The industry has also launched a local marine insurance platform, which is set to become mandatory from February 1, 2025. This move aims to enhance access to insurance services locally and generate more revenue for the government.
Uganda’s microfinance sector comprises over 1,000 institutions, ranging from Tier I banks to informal groups. These institutions provide loans and financial services to low-income households, playing a crucial role in economic development.
The sector employs various strategies, such as group lending with social collateral, and is increasingly adopting digital financial services to expand its reach. The Uganda Microfinance Regulatory Authority (UMRA) oversees non-deposit-taking microfinance institutions and moneylenders, with key objectives including restoring public confidence, promoting sector stability, enhancing financial inclusion, and protecting consumers from fraud and unethical practices.
Despite global economic challenges, Uganda’s economy has demonstrated resilience, with growth accelerating to 6.1% in FY2024, driven by broad-based expansion in the services and industrial sectors. Growth is projected to rise slightly to 6.2% in FY2025, propelled by agriculture and services. Over the medium term, the start of oil production is expected to boost growth significantly—reaching 10.4% in FY2027—before stabilizing around 6% as oil production levels out.
In conclusion, the Uganda Development Champions Journal and the Responsible Investment Global Certification Award are initiatives that recognize and promote institutions committed to international best practices and national development. The journal highlights the achievements of Uganda’s top-performing banks, insurance companies, and microfinance institutions.
With the economy showing resilience and steady growth, this is an exciting period for Uganda’s financial sector. Recognizing top-performing institutions will inspire others to pursue excellence, further contributing to the country’s economic transformation. By promoting responsible investment and adherence to international standards, the Uganda Development Champions Journal and the Responsible Investment Global Certification Award are poised to play a pivotal role in shaping Uganda’s economic future.
Nominations for the best-performing banks, insurance companies, and microfinance institutions are ongoing. The public can submit nominations by sending the name of the institution to +256 774 992426 or by visiting the Public Opinions website at www.publicopinions.net
Public Opinions is Uganda’s leading field-based firm working towards the attainment of Uganda Vision 2040 and the United Nations Sustainable Development Goals. It engages in personal and corporate profiling, public awareness, information dissemination, training, mentorship, publishing the annual Uganda Development Champions Journal, and creating promotional and campaign materials.
