Private sector loans hits sh23.305 trillion

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The stock of Uganda’s outstanding private sector credit grew by 0.8% to 23,305.83b (23.305 trillion) in March this year from 23,121.38b (23.121 trillion) recorded a month earlier.

This growth was mainly driven by the increase in foreign currency-denominated credit, which grew by 1.2% to shillings 6,783.69b (6.783 trillion) in March from 6,702.49b (6.702 trillion) in February.

Similarly, the stock of shilling-denominated credit grew by 0.6% to shillings 16,522.14b (16.522 trillion) in March 2025 from 16,418.89b in February.

The revelations are contained in the finance ministry’s performance of the economy report for April 2025.

Economic experts say private sector credit is key in financing production and consumption, which in turn impacts the wider expansion of the economy.

Credit extensions

The report also indicates that the value of credit approved increased by 16.9% to sh1,563.78b (1.563 trillion) in March this year from 1,337.86b (1.337 trillion) approved a month earlier.

“This reflected an overall increase in credit extended to the private sector during the month. As was the case in February 2025, personal and household loans accounted for the largest share of credit extended, representing 34.8% (sh544.95b) of total approved credit,” it says.

Other notable recipients included building, mortgage, construction and real estate at 19.7% (sh307.90b), trade at 15.1% (sh235.48b), and manufacturing at 9.2% (sh144.07b).