Ugandan Banks Balk at New ‘Foreign Agents’ Registration Law

Ugandan banks are seeking an exemption from proposed legislation requiring all businesses and individuals that receive funds from outside the country to be registered, arguing that the measure will negatively impact their ability to raise capital.

The Protection of Sovereignty Bill 2026 presented to parliament last week aims at safeguarding the nation from external interference by classifying all those who get money from abroad as “agents of foreigners.”