Minister Musasizi Pledges Integrity and Inclusive Growth as he takes the helm 

Hon Henry Musasizi / Courtesy Photo

By Wilfred Arinda  Nshekantebirwe

Kampala, June 9, 2026 .

Uganda has a new steward of its economy. Hon. Henry Musasizi was officially sworn in as Minister of Finance, Planning and Economic Development, stepping into one of the most consequential roles in President Yoweri Museveni’s newly constituted Cabinet.

In his first public remarks following the ceremony, Musasizi took to social media via his X handle to address the nation, expressing heartfelt gratitude to President Museveni for the appointment and outlining the values he intends to carry into the office.

“I am fully committed to upholding this responsibility with integrity, diligence, and dedication to the people of Uganda,” he wrote, pledging to work alongside government colleagues and all stakeholders to advance sound fiscal management, inclusive economic planning, and policies that foster sustainable growth.

Musasizi’s elevation marks a significant transition at the Ministry, where he replaces Hon. Matia Kasaija, who had led the finance docket for over a decade. The new Minister comes with direct institutional knowledge, having served as State Minister for Finance in charge of General Duties since 2021, with responsibilities spanning budget implementation oversight, debt management, and fiscal transfers to local governments.

At 45, Musasizi brings a generational shift to the ministry, succeeding the 81-year-old Kasaija, who was widely regarded as an embedded government insider with deep institutional memory.

The new Minister wasted no time in laying out his agenda. After appearing before Parliament’s Appointments Committee, Musasizi outlined five key priorities: boosting economic growth, increasing domestic revenue collection, strengthening wealth creation programmes, tightening government expenditure, and maintaining sustainable public debt levels.

His ambitions are far-reaching. Musasizi has detailed a five-pillar strategy aimed at transitioning Uganda’s economy toward what he described as an “exponential economic takeoff,” with a target of reaching a $500 billion economy by 2040.

On fiscal discipline, Musasizi signalled that some traditional expenditure items may no longer receive budget allocations, with resources to be redirected toward productive sectors that drive growth. He questioned the value of costly public celebrations, suggesting those funds could be better invested elsewhere.

His immediate priority, however, is steering the formulation of the 2026/27 national budget, a task that will require balancing fiscal discipline with the country’s pressing development needs, at a time when public debt stands at 48.4% of GDP.

In his closing message to Ugandans, the new Minister struck a tone of humility and public service. “To the people of Uganda: I am here to serve you. I will approach this role with humility, accountability, and an unwavering commitment to advancing our nation’s economic development and shared prosperity,” he said.

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