President Museveni has consistently argued that 67% of Ugandans are now in the “money economy,” implying that the majority have escaped poverty. This claim, however, is misleading. It is based on the narrow assumption that the mere act of selling a product or service — however small — qualifies as economic transformation.
Participation in the money economy does not automatically translate into prosperity. A peasant who sells a chicken or a handful of tomatoes may technically be counted among the 67%, but this does not secure them a decent livelihood. The real measure is whether Ugandans are earning enough to live with dignity, access healthcare, educate their children, and meet rising costs of living.
The data paints a different picture. The Uganda Bureau of Statistics (UBOS) and World Bank estimate that over 8 million Ugandans live below the poverty line, while more than half of the population is trapped in multidimensional poverty — deprived of clean water, adequate housing, quality education, and reliable energy. Regional inequalities remain stark: poverty exceeds 60% in Karamoja and remains deeply entrenched in northern and eastern Uganda. These realities stand in direct contradiction to the narrative of mass economic uplift.
Even those in the so-called money economy often survive through precarious, low-paying informal work — boda bodas, market vending, casual labor. These activities involve money but offer no stability, savings, or protection from shocks such as illness or price inflation. Meanwhile, the cost of food, fuel, education, and healthcare has risen sharply, outpacing earnings and pushing families deeper into debt.
The “67%” figure therefore serves more as a political talking point than an accurate reflection of Uganda’s socio-economic condition. It is used to promote government programs such as the Parish Development Model and Emyooga, yet these initiatives are marred by corruption, mismanagement, and exclusion.
Uganda’s progress cannot be measured merely by how many people handle cash. True economic transformation must be measured by the reduction of poverty, narrowing of inequality, creation of decent jobs, and improvement in people’s living standards. Until then, statistics that paint a picture of success will remain disconnected from the lived reality of millions of impoverished Ugandans.
Arans Tabaruka,
Veteran Journalist & Lawyer.
