Uganda is taking one of its boldest steps yet towards a cashless economy, introducing strict limits on cash withdrawals and cheque transactions as digital payments in the country surpass $100.3 billion (UGX366 trillion) a year.
The move signals a significant shift in Uganda’s financial strategy.
Rather than simply encouraging electronic payments, regulators are now actively pushing consumers and businesses away from cash and paper-based transactions and towards digital channels.
Beginning January 1, 2027, individuals will be allowed to withdraw a maximum of $13,700 (UGX50 million) per day and $68,500 (UGX250 million) per week in cash over the counter.
Businesses will face daily withdrawal limits of $137,000 (UGX500 million) and weekly caps of $685,000 (UGX2.5 billion).
