The director of research and policy at the Bank of Uganda, Mr. Adam Mugume, said “Setting up a factory to print money internationally isn’t cost-effective because they print for the global currency. The cost of printing one note will be very expensive because you are looking at your own note”. They concluded, telling the parliament that Uganda can’t afford to print its own currency because the process is sophisticated, and therefore contacting a local company would be overly expensive and doesn’t make economic sense.
