About UGX 90 billion in previously idle capital has been unlocked after the Commercial Court resolved hundreds of banking-related disputes through mediation, highlighting the growing role of alternative dispute resolution in keeping money and business moving.
Uganda Bankers’ Association (UBA) chairperson Michael Mugabi said the Commercial Court resolved 417 of 527 banking-related cases through mediation, a development he said had helped release capital that could otherwise have remained tied up in prolonged disputes.
The figure represents an 80 per cent success rate, according to Bank of Uganda Governor Dr Michael Atingi-Ego.
Mugabi made the remarks on the sidelines of the 4th High-Level Financial Sector Anti-Fraud Forum 2026, held in Kampala on September 23.
He said the results demonstrated what could be achieved when the financial sector, businesses and the judiciary work together to resolve disputes before they cripple commercial relationships.
“The financial sector was intentional and showed up, brought its disputes forward honestly, and trusted a process built together with the Bench,” Mugabi said.
He warned that business partnerships must match the urgency of the changing financial environment, arguing that delays in resolving disputes could expose businesses to greater risks.
The mediation gains come as Uganda’s financial sector faces growing exposure to cybercrime and fraud.
Between January and August 2026, the sector recorded 6,533 reported cyber and fraud-risk incidents, with actual losses estimated at UGX 24 billion and suspected exposure of about UGX 68 billion, according to figures presented at the forum.
The reported threats were largely linked to peer-to-peer and wallet fraud, compromises of digital channels and abuse of internal controls.
Mugabi said the figures underline the need to protect not only financial institutions but also the capital and trust on which the wider economy depends.
“With UGX 24 billion already lost and UGX 68 billion at risk this year alone, capital only serves us in motion. So does trust. Let us spend today making sure both move in the same direction, towards the citizen this sector exists to serve.”
Push for tougher legal response
The UBA chairman also called for legal and institutional reforms to strengthen Uganda’s response to financial and cybercrime.
Among the measures he proposed were minimum sentencing guidelines for financial fraud, stronger systems for tracing and recovering stolen assets, and greater capacity within the justice system to investigate and prosecute complex cyber and financial crimes.
The calls come as financial institutions increasingly shift services to digital platforms, creating new opportunities for customers while also opening additional channels for fraudsters.
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