Uganda signs MoU with German firm to set up banknote printing facility
The Office of the President and USPC will establish a multi-sectoral technical committee to monitor implementation of the project
KAMPALA, August 28, 2026 — The Government of Uganda has signed a memorandum of understanding [MoU] with Germany-based K&B Banknote Solutions to pave the way for the establishment of a sovereign currency printing facility in the country.
The agreement was signed on Wednesday between Uganda Security Printing Company [USPC] and K&B Banknote Solutions at the Office of the President in Kampala, in a ceremony presided over by Milly Babalanda, Minister for the Presidency.
Babalanda said the MoU will provide a framework for technical, security, feasibility and commercial assessments required before the final establishment of the currency printing plant.
She said the project is intended to strengthen Uganda’s national sovereignty by enabling the country to produce important State instruments locally, including currency, passports, national identity cards and academic certificates.
“The project is not simply about installing machines; we are building a national capability,” Babalanda said, stressing the importance of local skills development and technology transfer.
She said Ugandan engineers and technicians are expected to work alongside K&B specialists throughout the planning, installation, testing and commissioning of the facility to acquire the skills needed to operate and maintain the plant.
According to Babalanda, K&B Banknote Solutions has an academy that provides technical training to young people who operate its machines, an opportunity she said Uganda would seek to utilise as the partnership progresses.
The project is also expected to support government’s industrialisation agenda through increased local production and value addition, reducing reliance on imported finished products.
Babalanda said the initiative is aligned with the National Resistance Movement [NRM] Manifesto 2026–2031, the Fourth National Development Plan [NDP IV] and Uganda Vision 2040, particularly their emphasis on industrialisation, employment, wealth creation, science, technology and innovation.
The Minister said the facility would also create opportunities for young Ugandans, engineers and technicians to acquire modern skills in advanced security-printing technology.
The Office of the President and USPC will establish a multi-sectoral technical committee to monitor implementation of the project. The committee is expected to bring together officials from the Bank of Uganda, Ministry of Finance, Planning and Economic Development, the Attorney General’s Chambers and relevant security agencies.
Babalanda said the committee will ensure that progress is regularly assessed against milestones contained in the agreed roadmap.
She urged the USPC team to remain focused on the objectives of the joint venture agreement, saying the project should ultimately serve Uganda’s national interests.
The signing ceremony was attended by officials from the Office of the President, Uganda Printing and Publishing Corporation [UPPC], USPC and representatives of K&B Banknote Solutions.
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