Uganda faces possible economic troubles as new policies from President Trump and Vice President Vance take effect. The rising strength of the US dollar against the Ugandan shilling creates major risks for the country's money system. The shilling lost value by 0.7% against the dollar in January 2025, trading at an average rate of 3,688.96 shillings per dollar compared to 3,664.08 shillings in December 2024. This change started right after Trump won the election, according to Stephen Kaboyo, who runs Alpha Capital.
Companies in energy, oil, gas, telecom, and manufacturing need more dollars, which drives down the shilling's value. Looking at the full year, the shilling actually gained strength by 3.1% from January 2024 to January 2025...