Cowries shells. A cow was equivalent to 2,500 cowrie shells. Photo/LABAN WALLOGA
In a paper titled, The Evolution of Currency in Uganda, Charles Enyondo, Bank of Uganda senior archivist, notes that, “From earlier date, before coming into contact with the outside world, a currency (sanga and nsinda) existed in Uganda in addition to the barter trade.
The standard of the currency was set by the value of a cow.
