Uganda’s wetlands are an important stock of natural capital producing goods and services that have economic value. Despite the need to conserve them, their loss to unsustainable resource utilization activities has continued because they are considered to have little or no economic value. This study aimed at highlighting the economic importance of three wetlands within the Kampala-Mukono Corridor (KMC) and the economic implications of their degradation to the Local Administration and people’s livelihoods.