DPF Board and Management Brief Finance Minister on the Fund’s Growth and Strategic Outlook – July 9, 2026
Since his recent elevation and appointment, the Cabinet Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi has been engaging with the Boards and top management of government agencies that fall under his Ministry. On July 9, 2026, the Minister hosted the DPF Board of Directors and Management of the Deposit Protection Fund at his office. These engagements were intended for the different agencies to update the Minister on the developments in each of them. The Hon. Minister used the occasion to set the tone of engagement as he settles into his docket as the full Cabinet Minister, having been elevated from Minister of State.
DPF Board Chairman, Mr. Ben Patrick Kagoro led the DPF delegation. He noted that DPF remains financially sound and is strategically aligned with Government priorities and well positioned to support stability across Uganda’s financial sector.
A key milestone highlighted by the Chairman was the Fund’s remarkable growth trajectory. Since becoming operational in 2017, the DPF fund size has expanded five-fold, from UGX 470 billion. This he said, is testament to the Fund’s prudent management and the growing confidence of Uganda’s financial sector stakeholders.
The Chief Executive Officer Dr. Julia Clare Olima Oyet (Mrs.) presented an overview of the Fund’s coverage performance, disclosing that at the current deposit insurance limit of UGX 10 million per depositor per bank, over 98% of all deposit accounts in Uganda are fully protected. This figure is above the global average and reflects the broad reach of DPF’s safety net across the country’s banking sector.
n a significant policy development, Dr. Julia noted that plans were underway for the Fund, in consultation with other stakeholders including the Ministry of Finance, Planning and Economic Development and Bank of Uganda, to increase the deposit insurance coverage from the current UGX 10 million. This move is aimed at further strengthening public confidence in Uganda’s financial sector and enhancing the Fund’s role as a pillar of financial safety. She further noted, “DPF is a strategic institution which, by mandate, is designed to strengthen confidence in the financial sector, thus contributing to the Government’s tenfold growth agenda”.
On his part, Hon. Henry Musasizi expressed his appreciation for DPF’s performance and pledged the Ministry’s continued support for the Fund’s work. The Minister reaffirmed Government’s commitment to creating a stable financial environment that promotes investment, job creation, and long-term economic growth in Uganda.
