A landmark deal was signed on June 30, 2026 between the Ugandan government and Standard Chartered Bank Uganda: €110.5 million ($126 million) to tarmac the 115.8-kilometre Kitgum-Kidepo road in the north of the country. This critical infrastructure project aims to unlock the Karamoja region and open Kidepo Valley National Park to tourism investment.
The largest private bank financing in northern Uganda
Finance Minister Henry Musasizi and Standard Chartered Bank Uganda CEO Sanjay Rughani signed a contract for UGX 481 billion (€110.5 million / $126 million) to build a tarmac highway stretching 115.8 km from Kitgum to Kidepo Valley National Park. This is the largest private bank financing ever secured for infrastructure in northern Uganda.
Connecting the Karamoja
The Karamoja region in northeastern Uganda is among the most remote parts of the country. The new road aims to «improve connectivity, reduce transport costs and strengthen regional trade», according to the contract terms. It will link farmers to urban markets, local industries to raw materials, and pave the way for a more efficient logistics chain toward the South Sudan border.
Tourism as the engine of development
Kidepo Valley National Park, consistently ranked among Africa's ten most beautiful parks, remains difficult to reach today. The tarmac road is expected to dramatically transform visitor numbers. The project is part of a broader set of coordinated investments in the region: a Yaobai cement factory (over $300 million) and Kidepo International Airport development ($72 million) are also underway. Uganda is building a regional economy anchored in tourism, agri-processing and construction.
Standard Chartered doubling down on Africa
For Standard Chartered, this deal reinforces a strategic bet on infrastructure financing in sub-Saharan Africa. The British bank has already backed several major projects in East Africa. In Uganda, it is acting as an accelerator of regional development that has long been held back by geographic isolation.
Why this matters
For Indian Ocean players — Mauritians, Réunionnais, Malagasy — Uganda represents a rapidly developing market with growing demand for expertise, engineering and financial services. The Kitgum-Kidepo dynamic illustrates how private financing can become the real driver of development in East Africa, opening the door to innovative regional partnerships.
Source: Agence Ecofin / Monitor Uganda (July 2026)