Uganda Railways Corporation (URC) has reported a dramatic turnaround in its financial performance, cutting annual losses by 67% in the 2024/25 financial year.
According to official figures, the corporation’s net loss fell to Shs17.05 billion, a steep decline from the Shs51 billion recorded the previous year. This improvement also saw its loss margin shrink from –172% to –43%, signalling progress in efforts to rebuild the once-struggling entity.
URC’s Managing Director, Benon Kajuna, attributed the performance to reforms aimed at tightening cost control, streamlining operations, and strengthening financial management systems. He emphasized that the ongoing turnaround plan is beginning to deliver tangible results, though the corporation remains far from profitability.
Despite the positive shift, URC’s accumulated deficit still rose from Shs444.9 billion to Shs462.2 billion, reflecting the heavy burden of historic losses. Nonetheless, the corporation stressed that the slowdown in new losses demonstrates the effectiveness of its recovery strategies.
Going forward, URC plans to focus on expanding freight volumes, diversifying revenue streams, investing in digital systems, and pursuing compensation claims owed to the corporation. Officials believe these steps will further improve performance and cement URC’s role in driving Uganda’s regional trade and transport agenda.
The railway operator is positioning itself as a central player in Uganda’s infrastructure growth, with renewed optimism that its finances can eventually return to stability.