Recent weeks have seen growing concern across Uganda’s business community, civil society, and the diaspora over the proposed Sovereignty Bill. Fears had begun to circulate that the legislation could restrict foreign investment, block remittances, or interfere with private financial flows.
In a national address, Yoweri Kaguta Museveni moved to directly calm those fears, making it clear that the bill is not about closing Uganda’s economy.
“This law is about sovereignty, not business restrictions.”
The President reaffirmed Uganda’s long-standing commitment to a free-market economy, noting that the country has never restricted the movement of legally earned money, church donations, or diaspora remittances. He pointed to the continued operation of private forex bureaus as evidence that financial freedom remains a core part of Uganda’s economic structure.
According to him, the real intention of the Sovereignty Bill is to protect Uganda’s internal decision-making from foreign interference. He emphasized that sovereignty means having the ability to determine the country’s political, economic, and social direction without external influence, particularly through funding of local actors to shape national outcomes.
“We must be free to make our own decisions.”
Framing the issue within a broader historical context, the President linked the bill to Africa’s long struggle for self-determination. He stressed that true independence includes the right for a nation to choose its path and learn from its own decisions.
At the same time, he was clear that Uganda remains open for business. Foreign investment, trade, and financial flows will continue without disruption, provided they do not cross into influencing domestic policy.
To ensure this balance is maintained, the President directed Parliament to keep the bill narrowly focused on protecting sovereignty. He warned against extending it into areas that could affect private enterprise, financial transfers, or religious institutions.
“Influence us by example, not by coercion.”
The message to both domestic and international audiences was firm but measured: Uganda welcomes partnership and investment, but its policy decisions are not open to external control.
As the bill continues through Parliament, the government’s position is now clearer, the economy remains open, but the boundaries around national decision-making have been firmly drawn