Uganda to issue inaugural sovereign sukuk
KAMPALA, May 12, 2026 — The Government of Uganda is in advanced stages of issuing the inaugural Sovereign Sukuk to finance 15 percent of the total cost of Euro 2.7 billion required for the construction of the Standard Gauge Railway [SGR].
Cabinet approved the SGR financing structure in January 2025 reflecting the proportion and amounts to be mobilized. 60 percent of the Euro 2.7 billion will come from Export Credit Agencies [ECAs],15 percent from Sukuk and the balance of 25 percent will come from Development Finance Institutions [DFIs].
The Deputy Secretary to the Treasury, Patrick Ocailap is currently leading Uganda’s delegation on a Sukuk Roadshow in the East African Community, specifically in Kenya, Tanzania and Zanzibar, to interest Investors to participate in the inaugural sovereign Sukuk Issuance on a date that will officially be announced.
The other members of the delegation include; the Yusra Sukuk-lead arranger, Stanbic Bank Group,the Book Runners, Bank of Uganda, Standard Gauge Railway team, NS Kigozi Advocate- Sukuk Legal Advisor, Salaam Bank Uganda Limited the Receiving Bank and other staff in the Debt Policy and Issuance Department in the Finance ministry.
Ocailap said the aim of the roadshow is market sounding, pricing discovery and building investor relations to ensure success of the planned Sovereign Sukuk Issuance.
The Finance ministry will in the coming days share detailed information with Ugandans about this kind of innovative financing and the significance of the upcoming Sovereign Sukuk Issuance.
https://thecooperator.news/bou-targets-shs-990bln-in-treasury-bond-auction-to-fund-govt-operations/
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