President Yoweri Museveni has elevated Rubanda County East MP Henry Musasizi to the powerful position of Minister of Finance, Planning and Economic Development in the newly unveiled cabinet for the 2026–2031 term, marking a major political rise for the youthful technocrat from Rubanda District.
The appointment, announced Tuesday evening as part of Museveni’s fresh cabinet lineup, effectively ends the long tenure of veteran politician Matia Kasaija, who has served as Uganda’s Finance Minister since March 2015.
Musasizi’s promotion had been coming. Over the last five years, he has increasingly emerged as the face of Uganda’s fiscal management, often taking charge of budget presentations, tax policy explanations, supplementary expenditure requests and parliamentary defense of controversial government spending decisions.
In recent months, Musasizi had become the ministry’s most visible and active political figure, with several analysts quietly describing him as the “de facto finance minister” even before the official appointment.
At just 45 years old, Musasizi represents a generational shift in one of Uganda’s most sensitive ministries. Unlike many older politicians who rose through liberation politics, Musasizi’s rise has largely been built on technical competence, parliamentary committee work and close involvement in budgeting processes.
Born on February 25, 1981, in Rubanda district, Musasizi is an accountant by profession. He studied at Kigezi College Butobere before joining Makerere University, where he graduated with a Bachelor of Commerce degree in 2005. He later obtained professional accountancy qualifications from the Institute of Certified Public Accountants of Uganda and earned an MBA from Heriot-Watt University.
Before joining active politics, Musasizi worked with the Roman Catholic Diocese of Kabale and later with AMREF as an accountant. His political journey began in 2011 when he won the Rubanda East parliamentary seat on the NRM ticket.
Inside Parliament, Musasizi quickly built a reputation as one of the most technically grounded MPs on financial matters. He served on the Public Accounts Committee (PAC) before later becoming chairperson of Parliament’s influential Finance Committee, where he supervised scrutiny of national budgets, tax bills and loan requests. It was from that committee role that Museveni eventually picked him in 2021 to become State Minister for Finance in charge of General Duties.
Since then, Musasizi has played a central role in handling Uganda’s economic policy debates, including tax waivers, infrastructure financing, supplementary budget requests and negotiations around major government expenditures. He has frequently represented the Finance Ministry on the floor of Parliament and during media briefings concerning the national budget.
His elevation now places him at the center of Uganda’s economic management at a time when government faces rising public debt pressures, youth unemployment concerns, growing demands for infrastructure financing and increasing pressure to expand domestic revenue collection.
For outgoing minister Matia Kasaija, the cabinet reshuffle closes a significant chapter in Uganda’s economic administration.
Kasaija, born in 1944 in present-day Kibaale district, has been one of the longest-serving figures in Museveni’s governments. A trained commerce graduate from the University of Nairobi, Kasaija first entered national politics during the 1980 elections before later joining Museveni’s National Resistance Army struggle in the early 1980s.
Over the decades, Kasaija served in several government positions, including State Minister for Internal Affairs and later State Minister for Finance before being promoted to substantive Finance Minister in 2015.
During his time at the Finance Ministry, Uganda pursued ambitious infrastructure investments including roads, dams and oil-related projects.
Kasaija also oversaw difficult periods marked by the COVID-19 pandemic, debt concerns and pressure from international lenders.
Known for his calm demeanor and humorous public speaking style, Kasaija became famous for repeatedly referring to fellow legislators as “my colleagues” during parliamentary appearances, a phrase that became part of Uganda’s political vocabulary.
However, in recent years, critics increasingly questioned whether the aging minister still maintained full operational control of the powerful ministry as younger technocrats and junior ministers took more visible roles in day-to-day financial management.
Musasizi now inherits one of the most politically delicate offices in government, where every tax decision, loan request and expenditure plan carries enormous national consequences. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
