The Ugandan government has launched the Creative Uganda Revolving Fund (CURF), a Shs 28 billion financing program aimed at enhancing access to affordable capital for Uganda’s thriving creative sector. This initiative, introduced in July 2025, seeks to address long-standing challenges faced by creatives, including limited access to formal financing due to their informal operations.

Unlocking Potential with CURF

The CURF is designed to unlock the immense potential in Uganda’s creative and cultural industries, ensuring sustainable growth through accessible loans at favorable terms. According to Hon. Peace Regis Mutuuzo, Minister of State for Gender and Culture Affairs, the fund focuses on providing low-interest loans for creative professionals, including musicians, filmmakers, visual artists, and others who often struggle to secure financing from conventional banks.

“Despite the immense talent in our creative sector, limited access to patient and affordable financing has constrained growth. The Creative Uganda Revolving Fund is designed to unlock this value while ensuring sustainability through repayment,” said Mutuuzo during a press briefing.

Allocation of Funds

The Shs 28 billion allocated for the FY2025/2026 national budget will be distributed across three major categories:

• Shs 5 billion for musicians’ SACCOs under the Uganda National Musicians Federation (UNMF).
• Shs 5 billion for strengthening copyright management, including setting up a national Copyright Management System.
• Shs 18 billion for other creative industries such as film, fashion, performing arts, and digital innovation.

Affordable Financing with Flexible Repayment Terms

CURF loans will be offered at a 5% interest rate, significantly lower than commercial lending rates. This structure ensures that creative entrepreneurs can access capital without the heavy burden of high-interest loans. The flexible repayment schedules, tailored to the project-based nature of creative work, are designed to support the unique financial cycles of creatives.

Empowering Artists through SACCOs

One of the key elements of CURF is its focus on strengthening artist-owned SACCOs. These SACCOs, managed by creatives themselves, are seen as vital to the independence and long-term success of Uganda’s creative economy. More than 15 prequalified SACCOs, such as the Uganda Filmmakers SACCO Ltd and Uganda Audio-Visual & Film SACCO, will facilitate the distribution of funds to qualified applicants.

“Artist-owned SACCOs are central to the long-term independence of the creative economy. Our focus is to strengthen their governance and management so that the Fund can revolve and reach more beneficiaries,” said Mutuuzo.

Support for Intellectual Property and Capacity Building

The CURF also emphasizes intellectual property rights, offering artists an alternative form of collateral for their loans. Creatives will retain full ownership of their intellectual property, with the fund recognizing IP as a valuable economic asset. Additionally, government capacity-building programs in financial literacy, business management, and intellectual property training will ensure that beneficiaries can sustain their projects and repay loans successfully.

Addressing Concerns and Ensuring Transparency

The government has promised strict monitoring and operational guidelines to ensure the responsible use of the fund. Mutuuzo emphasized that any misuse of funds or political interference would not be tolerated, reinforcing the commitment to the creative community’s welfare.

Impact on Uganda’s Economy

CURF aims to support thousands of creative enterprises, generate employment, and boost the sector’s contribution to Uganda’s GDP. With a focus on youth- and women-led initiatives, the fund will drive economic transformation within the creative industries, fostering job creation and income generation.

“The Creative Uganda Revolving Fund is set to empower our creative sector, creating opportunities for young people and women across Uganda,” Mutuuzo added.