The Bank of Uganda (BoU) spent a total of shs239.21 billion on staff salaries, wages, and allowances during the financial year ending 30 June 2025, marking a significant rise from shs192.26 billion spent the previous year.
The figures are contained in the Bank of Uganda Integrated Annual Report for the year ended 30 June 2025, which has been presented to the Minister of Finance, Planning and Economic Development for onward transmission to Parliament, in line with Section 49(1) of the Bank of Uganda Act.
The law requires the Central Bank to submit its annual report within three months after the end of each financial year.
According to the report, total employee benefits climbed to shs 286.56 billion in 2025, up from shs 230.25 billion in 2024 — an increase attributed to adjustments in staff remuneration, higher social security contributions, and expanded welfare provisions.
The report shows that NSSF contributions and provisions rose to shs 17.58 billion from shs14.00 billion, while defined contribution scheme pension contributions increased to shs 10.50 billion compared to shs 7.89 billion a year earlier.
During the year, the Bank registered defined benefit plan gains of shs3.17 billion, a slight improvement from shs4.01 billion in 2024. There were no gratuity payments made in 2025, unlike the shs 42 million recorded the previous year.
Meanwhile, death-in-service insurance costs rose from shs705 million to shs971 million, and staff welfare, including medical expenses, grew to shs16.79 billion from shs15.11 billion.
Spending on projects and training also increased modestly to shs4.68 billion, up from shs4.25 billion the previous year.
The Bank noted that the overall rise in employee-related expenditures reflects its continued investment in human capital, staff welfare, and capacity-building initiatives aimed at strengthening institutional performance.
