Finding the best investment in Uganda isn’t simply about looking for the highest return.
The right investment depends on what you want your money to achieve, how much you have to invest, how long you can remain invested, the level of risk you’re comfortable with and the currency you want to invest in.
Through Level Africa, you can access investment opportunities across:
- Treasury Bonds
- Unit Trusts
- Fixed Income
- Listed securities and shares
Some investments available through Level Africa start from UGX 100,000, while USD-denominated options have different minimum investment requirements.
This gives investors the ability to compare investments not only by potential return, but also by currency, investment period, liquidity, income structure and investment goal.
Investment Options in Uganda at a Glance
| Investment | Current Return | Minimum Investment | Currency | Potential Fit |
|---|---|---|---|---|
| Treasury Bonds | Depends on available bond | From UGX 100,000 | UGX | Long-term income |
| Unit Trusts | Depends on fund | From UGX 100,000 / USD 1,000 | UGX / USD | Short-, medium- and long-term goals |
| Fixed Income | Depends on option | From UGX 10M / USD 2,500 | UGX / USD | Investors seeking structured income |
| Listed Securities | Market-dependent | Depends on security | UGX / KES | Equity investing and long-term growth |
These investments work differently.
Rather than asking which one is universally the best, it is more useful to understand which investment fits your goal.
Where Can I Invest My Money in Uganda?
There are several ways to invest money in Uganda, including government securities, Unit Trusts, fixed-income investments, shares, property and businesses.
The appropriate option depends on how much you have, when you will need the money, the currency you want to invest in and the level of risk you are prepared to take.
Level Africa provides digital access to Treasury Bonds, Unit Trusts, Fixed Income and listed securities, allowing investors to explore different investment structures from one platform.
Let’s look at how these options work.
1. Treasury Bonds
Treasury Bonds are one of the investment options available to investors in Uganda through Level Africa.
They are government securities issued by the Government of Uganda through the Bank of Uganda.
When you invest in a Treasury Bond, you’re effectively lending money to the government for an agreed period.
In return, the bond pays interest through scheduled coupon payments until maturity, when the principal is due for repayment.
Why Consider Treasury Bonds?
Treasury Bonds may be worth considering if you’re looking for:
- Government-backed securities
- Predictable coupon income
- Long-term investing
- An investment denominated in Uganda shillings
- An alternative to leaving long-term money in cash
Treasury Bonds available through Level Africa start from UGX 100,000.
Their maturities can extend over several years, depending on the bonds available.
How Do Treasury Bond Returns Work?
Treasury Bonds have a coupon rate that determines the interest payments associated with the bond.
However, the return you receive from buying a bond also depends on factors such as its purchase price and prevailing market yield.
This distinction is particularly important when buying an existing Treasury Bond on the secondary market.
Level Africa publishes current Treasury Bond information to help investors understand available opportunities before investing.
2. Unit Trusts
Unit Trusts provide another way to invest your money without having to select and manage every underlying investment yourself.
Money from different investors is pooled into a fund.
A professional fund manager then invests that money according to the fund’s strategy.
Depending on the Unit Trust, the portfolio can contain investments such as:
- Treasury Bonds
- Treasury Bills
- Fixed deposits
- Cash
- Other fixed-income securities
- Other assets permitted under the fund’s mandate
Through Level Africa, investors can access Unit Trust opportunities from Cornerstone, Old Mutual, ICEA and SanlamAllianz.
How Much Do You Need to Invest in a Unit Trust?
Several UGX Unit Trusts available through Level Africa start from:
UGX 100,000
There are also USD-denominated opportunities with different minimum investments.
This makes Unit Trusts one of the more accessible ways to start investing through Level Africa.
Current Unit Trust Returns
The Unit Trusts available through Level Africa have different returns, strategies and currencies.
| Unit Trust | Latest Rate / Return | Currency | Minimum |
|---|---|---|---|
| Cornerstone Income Fund | 15.27% effective annual yield | UGX | UGX 100,000 |
| Old Mutual Umbrella Trust Fund | 12.98% July yield | UGX | UGX 100,000 |
| Old Mutual Money Market Fund | 12.66% July yield | UGX | UGX 100,000 |
| ICEA Money Market Fund | 12.10% 1-month performance | UGX | UGX 100,000 |
| SanlamAllianz Income Fund | 12.06% last 30-day average rate | UGX | UGX 100,000 |
| SanlamAllianz Dollar Fund | 5.31% annual return | USD | USD 1,000 |
Last updated: July 2026
The percentages aren’t all calculated using exactly the same methodology, so they shouldn’t be treated as a simple ranking from best to worst.
Instead, compare a fund’s return alongside its investment strategy, risk, liquidity, currency and your investment period.
3. Fixed Income
Level Africa provides Fixed Income opportunities denominated in both Uganda shillings and US dollars.
Fixed Income may be relevant to investors looking for a structured way to generate income from their capital.
There are currently two options to compare.
Level Fixed Income UGX
The UGX Fixed Income opportunity currently offers:
Annual return: 14.00%
Minimum investment: UGX 10,000,000
Currency: UGX
Investment profile: Long-term
Investor profile: Advanced investors
Capital is deployed through an on-lending structure where debt obligations such as loans and receivables generate cash flows used to support interest and principal repayments.
This is different from putting money into a bank fixed deposit and also different from buying a government Treasury Bond.
It provides another type of fixed-income exposure for investors looking to diversify their investments.
Level Fixed USD
Investors who want their Fixed Income investment denominated in US dollars can consider Level Fixed USD.
The investment currently offers:
Annual return: 7.00%
Minimum investment: USD 2,500
Minimum top-up: USD 1,000
Currency: USD
Lock-in period: 6 months
Payout: Every 6 months
Reporting: Quarterly
Level Fixed USD is designed for investors looking for structured financial growth while keeping their investment denominated in dollars.
The six-month lock-in gives the investment time to generate returns, while investors receive quarterly reporting on their earnings.
Returns are paid every six months according to the product terms.
UGX or USD Fixed Income?
The decision shouldn’t simply be:
14% or 7%?
The investments are denominated in different currencies.
If your money, future expenses or investment objectives are primarily in Uganda shillings, a UGX investment may be more relevant.
If you’re holding dollars or want part of your investments denominated in USD, Level Fixed USD provides another option.
Consider the currency alongside the return, investment period and applicable product terms.
4. Thematic Equity Portfolio (Listed Securities and Shares)
Investors looking for equity exposure can also invest in listed securities through Level Africa.
Through Level Africa, investors can access and invest in securities listed on the Uganda Securities Exchange (USE), as well as selected products from the Nairobi Securities Exchange (NSE).
Unlike Treasury Bonds or Fixed Income investments, shares give investors exposure to the performance of listed companies.
Returns can come from changes in the market value of the shares and, where applicable, dividends paid by the company.
Why Consider Listed Securities?
Listed securities may be worth considering if you’re looking for:
- Long-term capital growth
- Exposure to listed companies
- Equity diversification
- Dividend opportunities from companies that distribute dividends
- Investments beyond fixed-income products
Share prices can rise or fall, so equity investing comes with different risks from Treasury Bonds, Unit Trusts and Fixed Income.
The appropriate investment depends on the individual security, your investment period and your objectives.
Explore Thematic Equity Portfolio (Listed Securities and Shares)
Which Investment Has the Highest Return in Uganda?
There isn’t a reliable way to answer this simply by putting every investment percentage into one table and picking the largest number.
Different investments generate returns differently.
A Treasury Bond has a coupon and market yield.
A Unit Trust generates returns based on the performance of its underlying portfolio.
Level Africa’s Fixed Income opportunities have their own return structures and terms.
Shares can rise or fall in value depending on the performance of the underlying company and the market.
So a better question is:
What return am I receiving for the risk, liquidity and investment period I’m taking?
A higher headline percentage on one investment doesn’t automatically make it more suitable than another investment with different risk, liquidity and time horizons.
Where Can I Invest UGX 100,000 in Uganda?
If you have UGX 100,000, two Level Africa investment categories are immediately relevant:
Treasury Bonds
Available from UGX 100,000.
Unit Trusts
Several available Unit Trusts also start from UGX 100,000.
This gives someone starting with UGX 100,000 the ability to compare a direct government security with a professionally managed fund.
You don’t necessarily need millions of shillings before you can begin investing.
Where Can I Invest UGX 1 Million in Uganda?
With UGX 1 million, you can still consider:
Treasury Bonds
and
Unit Trusts
You could invest the entire amount in one investment or consider how diversification fits your objectives.
The important thing isn’t simply finding somewhere to put the UGX 1 million.
It is understanding:
When will I need this money?
What am I investing for?
How much risk am I comfortable taking?
Those questions should influence which product you consider.
Where Can I Invest UGX 10 Million in Uganda?
At UGX 10 million, you can consider several Level Africa investment options, including:
- Treasury Bonds
- Unit Trusts
- Level Fixed Income UGX
Level Fixed Income UGX currently has a UGX 10 million minimum investment and offers a 14% annual return.
At this investment level, the question becomes less about whether you meet the minimum and more about which investment structure fits your goal.
You can compare government securities through Treasury Bonds, professionally managed Unit Trusts and Fixed Income before investing.
What About Investing in Dollars?
Level Africa currently provides different ways to invest in US dollars.
| USD Investment | Current Return | Minimum Investment | Investment Type |
|---|---|---|---|
| SanlamAllianz Dollar Fund | 5.31% annual return | USD 1,000 | Unit Trust |
| Level Fixed USD | 7.00% annual return | USD 2,500 | Fixed Income |
These investments serve different purposes.
SanlamAllianz Dollar Fund
This is a professionally managed USD-denominated Unit Trust.
It currently starts from USD 1,000 and has a 5.31% annual return.
Level Fixed USD
This is a USD-denominated Fixed Income investment.
It currently offers a 7% annual return, starts from USD 2,500 and has a six-month lock-in period.
The difference therefore goes beyond the headline percentage.
One is a Unit Trust and the other is a Fixed Income investment.
Where Can I Invest USD 2,500 in Uganda?
If you have USD 2,500 available to invest, you have more than one option through Level Africa.
You could consider the SanlamAllianz Dollar Fund, whose minimum investment starts from USD 1,000.
You could also consider Level Fixed USD, which starts from USD 2,500 and currently offers a 7% annual return.
The choice depends on what you want from the investment.
If you’re comparing the two, consider:
- Investment structure
- Current return
- Investment period
- Liquidity
- Risk
- Your financial goal
Don’t choose solely because one currently displays a higher percentage.
Best Investment for Dollar Income
If you want to invest in US dollars while focusing on income, Level Africa has two options worth comparing.
The SanlamAllianz Dollar Fund is a USD-denominated Unit Trust starting from USD 1,000.
Level Fixed USD is a Fixed Income investment starting from USD 2,500, currently offering a 7% annual return with a six-month lock-in period.
If your priority is specifically USD income, compare these two based on their structure, investment period, liquidity and current return.
Best Investment for Short-Term Goals
If you expect to need your money relatively soon, investment period and liquidity become particularly important.
Some Unit Trusts are designed with shorter-term investing and liquidity in mind.
Money Market Funds available through Level Africa include:
Old Mutual Money Market Fund
and
ICEA Money Market Fund
Other investment products may have longer recommended investment periods.
Instead of chasing the highest percentage, make sure the investment period fits when you’ll actually need the money.
Best Investment for Long-Term Income
Treasury Bonds are particularly relevant when considering longer-term income.
They can provide scheduled coupon payments over the life of the bond.
Depending on the bond available, maturity can extend over several years.
Level Fixed Income UGX also targets longer-term investors looking for income, although its underlying investment and risk are different from Treasury Bonds.
Investors with longer time horizons can therefore compare both structures.
Best Investment for Long-Term Growth
Investors focused on long-term capital growth may consider listed shares.
Through Level Africa, investors can access securities listed on the Uganda Securities Exchange and selected products from the Nairobi Securities Exchange.
Unlike fixed-income investments, share prices can rise or fall based on company performance, market conditions and investor demand.
This makes equity investing different from investments designed primarily around income or capital preservation.
For long-term investors, important considerations include the company or security being purchased, valuation, investment period, diversification and the investor’s ability to tolerate market fluctuations.
Best Investment for an Emergency Fund
An emergency fund has one overriding requirement:
You may need the money unexpectedly.
That makes liquidity particularly important.
Some Unit Trusts, especially Money Market Funds, may be worth considering when evaluating where to keep money intended for shorter-term needs.
The investment with the highest current return isn’t necessarily the appropriate place for emergency money.
Access matters.
Treasury Bonds vs Unit Trusts vs Fixed Income vs Equities
Here’s the bigger picture:
| Treasury Bonds | Unit Trusts | Fixed Income | Listed Securities | |
|---|---|---|---|---|
| Minimum | From UGX 100K | From UGX 100K / USD 1K | UGX 10M / USD 2,500 depending on option | Depends on security |
| Currency | UGX | UGX / USD | UGX / USD | UGX / KES |
| Primary Role | Income | Depends on fund | Income | Growth / equity exposure |
| Return | Depends on bond | Depends on fund | Depends on option | Market-dependent |
| Government Security | Yes | May hold them | No | No |
| Professional Management | Specific security | Yes | Structured investment | Investor selects security |
| Available on Level | Yes | Yes | Yes | Yes |
This table isn’t intended to tell you which investment wins.
It helps identify which products are worth investigating based on your objective.
How to Choose Where to Invest Your Money
Start with your goal rather than the product.
If You Want Government-Backed Securities
Consider Treasury Bonds.
If You’re Starting With UGX 100,000
Compare Treasury Bonds and Unit Trusts.
If You Want Professional Fund Management
Consider Unit Trusts.
If You Have UGX 10 Million and Want Income
Compare Fixed Income, Treasury Bonds and Unit Trusts.
If You Want to Invest in Dollars From USD 1,000
Consider the SanlamAllianz Dollar Fund.
If You Want USD Fixed Income
Consider Level Fixed USD, starting from USD 2,500.
If You Want Equity Exposure
Consider the Thematic Equity Portfolio (Listed Securities and Shares) and explore the listed securities currently available through Level Africa.
If You Want Shorter-Term Options
Compare the Unit Trusts designed for shorter-term investing and review the six-month terms of Level Fixed USD where USD exposure is relevant.
Can You Invest in More Than One?
Yes.
Different investments can play different roles.
For example, an investor might use:
Treasury Bonds for longer-term government-backed income.
A Money Market Unit Trust for shorter-term investment needs.
Level Fixed Income UGX for additional UGX income exposure.
Level Fixed USD for USD-denominated fixed income.
Thematic Equity Portfolio for listed equity exposure and potential long-term growth.
You don’t necessarily need every product.
The point of having different investment options is to choose the ones that fit your objectives rather than forcing all your money into one type of investment.
How to Start Investing With Level Africa
Level Africa brings different investment opportunities into one platform so you can explore and invest digitally.
The process follows four main steps.
1. Create & Verify
Create your Level Africa account and complete the required verification.
2. Fund Your Wallet
Add the money you want to invest.
3. Choose Your Investment
Explore Treasury Bonds, Unit Trusts, Fixed Income and listed securities, and review the applicable terms.
4. Invest & Track
Complete your investment and track it through your Level Africa account.
Find an Investment That Fits Your Goal
You don’t need to start by deciding whether Treasury Bonds, Unit Trusts, Fixed Income or equities are universally “best.”
Start with what you want your money to accomplish.
Then compare the investments available through Level Africa based on:
Minimum investment. Return. Risk. Liquidity. Currency. Investment period.
Frequently Asked Questions
What are the best investment options in Uganda?
Investment options in Uganda include government securities such as Treasury Bonds, Unit Trusts, fixed-income investments, listed shares, property and businesses. The appropriate option depends on your capital, investment period, liquidity needs, risk and objective.
Where can I invest my money in Uganda?
Through Level Africa, investors can access Treasury Bonds, Unit Trusts, Fixed Income and listed securities. Other investment opportunities available in Uganda include property and privately owned businesses.
Can I start investing with UGX 100,000?
Yes. Some Treasury Bonds and several Unit Trusts available through Level Africa can be accessed from UGX 100,000.
What can I invest UGX 1 million in?
Treasury Bonds and several Unit Trusts are among the Level Africa investment options accessible with UGX 1 million.
What can I invest UGX 10 million in?
With UGX 10 million, you can explore Treasury Bonds, Unit Trusts and Level Fixed Income UGX, among other investment opportunities.
What investments can generate regular income?
Treasury Bonds generate coupon payments, while some Unit Trusts and Fixed Income investments are structured around generating investment income. Their risks, liquidity and payment structures differ.
What investments are available in dollars?
Level Africa currently provides access to USD-denominated options including the SanlamAllianz Dollar Fund and Level Fixed USD.
What is the safest investment in Uganda?
There is no investment that should simply be described as completely safe. Different investments carry different risks. Government securities, Unit Trusts, Fixed Income and shares should be assessed according to their structure, underlying assets, liquidity and investment period.
Which investment has the highest return?
Returns cannot be compared using headline percentages alone. Treasury Bonds, Unit Trusts, Fixed Income and shares generate returns differently and carry different risks.
Can I invest online in Uganda?
Yes. Level Africa allows investors to create an account, fund their wallet, choose available investment products and invest digitally.
Can I invest dollars through Level Africa?
Yes. USD-denominated investment options available through Level Africa include the SanlamAllianz Dollar Fund and Level Fixed USD.
What is Level Fixed USD?
Level Fixed USD is a USD-denominated Fixed Income investment available through Level Africa. It currently offers a 7% annual return, starting from USD 2,500.
What is the minimum investment in Level Fixed USD?
The minimum initial investment is USD 2,500. Additional top-ups can be made from USD 1,000.
How long is Level Fixed USD locked?
The product has a six-month lock-in period.
When does Level Fixed USD pay returns?
The product provides a payout every six months, with quarterly reporting on investment performance.
Which dollar investment is best?
It depends on your objective. Level Africa offers USD-denominated opportunities across Unit Trusts, Fixed Income and equities. Compare their investment structure, return, risk, liquidity, minimum investment and investment horizon before choosing.
Is the 7% Level Fixed USD return the same as the 5.31% Dollar Fund return?
No. They are different investment products. Level Fixed USD is a Fixed Income investment, while the SanlamAllianz Dollar Fund is a Unit Trust. The percentages should be considered alongside the structure and terms of each investment.