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Uganda: Museveni Clarifies Sovereignty Bill - 'It Is About Policy, Not Private Money'

Museveni says the bill should focus on policy sovereignty, not private money transfers, after critics warned it could chill investment and civic activity.

  • On Thursday, President Yoweri Kaguta Museveni called for revisions to the Protection of Sovereignty Bill, directing officials to narrow its focus after public outcry regarding potential interference with private enterprise and financial transfers.
  • The Bill, introduced on April 15, 2026, sought to regulate foreign influence, but critics labeled provisions like "economic sabotage"—defined to include disseminating information undermining economic stability—as overly broad and restrictive of civil liberties.
  • Bank of Uganda Governor Michael Atingi-Ego warned that the Bill's current form could introduce "voluntary shocks," potentially causing withdrawal of offshore investors holding USD 3 billion in government securities and destabilizing currency.
  • With parliamentary committees reviewing revised proposals, MPs like Asuman Basalirwa argued that significant amendments require reopening consultations, questioning whether updated text sufficiently addresses vague definitions like "political activity."
  • Framing the Bill as a Pan-African struggle for independence, Museveni clarified that sovereignty refers strictly to policy-making rights, urging influencers to "let your light so shine" rather than relying on manipulation.
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The Spy broke the news on Thursday, April 30, 2026.
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