Africa-Press – Uganda. Bank of Uganda, in partnership with the International Fund for Agricultural Development (IFAD), has launched an interactive remittance dashboard aimed at improving the tracking, accuracy, and analysis of financial inflows from the Ugandan diaspora.
The new digital platform integrates traditional survey methods with real-time administrative data from remittance service providers, closing longstanding data gaps and giving policymakers a clearer picture of how money sent by Ugandans abroad flows into the economy.
The dashboard was officially unveiled by Deputy Governor Prof. Augustus Nuwagaba, who emphasized that remittances are more than statistics—they are a lifeline for millions of Ugandan households.
“Remittances represent the sacrifices of Ugandans abroad who work to support their families. They provide a sustainable source of foreign currency inflows, rivaling traditional exports like coffee and tourism, and are crucial for our Balance of Payments,” Prof. Nuwagaba said.
He noted that the new system expands data coverage to include a wider range of service providers and enables near real-time monitoring, a significant improvement over previous reliance on periodic surveys.
The improved system has revealed that Uganda receives substantially more remittances than previously estimated. While earlier figures placed annual inflows at US$1.5 billion (Shs5.5 trillion), the new dashboard indicates actual inflows of about US$2.5 billion (Shs9.3 trillion) in 2025.
“This is not new money; it is more accurate measurement. The dashboard captures where remittances come from, how they are sent, and how households use them, which is critical for policymaking,” Prof. Nuwagaba explained.
The enhanced data will help improve policies on foreign exchange management, financial inclusion, and diaspora investment mobilization. It also strengthens Uganda’s external sector statistics, which are vital for monitoring the country’s balance of payments.
Prof. Nuwagaba highlighted that diaspora inflows now play a stabilizing role in the economy, acting as a buffer against external shocks and exchange rate volatility.
“These remittances can help stabilize foreign exchange markets and relieve pressures on the exchange rate, which is key for economic fundamentals,” he added.
The dashboard is expected to enhance transparency and accessibility of financial data for researchers, policymakers, and financial institutions, supporting development planning and the creation of diaspora-focused financial products. By leveraging digital tools, Uganda is positioning itself as a leader in modernizing the measurement and utilization of diaspora contributions in national economic planning.
