The paper was founded by seven journalists led by Wafula Oguttu, Charles Onyango-Obbo, David Ouma Balikowa, Kevin Aliro, Richard Tebere, James Serugo, and Kevin O'Connor, who broke away from the Weekly Topic.
Operating with limited resources and printing just 5,000 copies, the inaugural Friday edition quickly sold out in Kampala as readers embraced a fresh voice.
The publication steadily expanded before becoming a daily newspaper in 1996. A few years later, Kenya's Nation Media Group acquired a majority stake, providing the investment needed to modernize operations and broaden its reach.
In 2005, the newspaper officially rebranded as the Daily Monitor, marking another milestone in its growth.
Beyond print, Monitor Publications Limited grew into a multimedia company, adding radio stations KFM and Dembe FM, while building one of Uganda's leading digital news platforms.
The Daily Monitor's history has also been defined by repeated confrontations with state authorities. Government agencies were barred from advertising in the newspaper in 1993 because of its critical reporting, while its newsroom was raided in 2002 and again in 2013, when security forces occupied its premises for 11 days following the publication of a leaked military memo.
In June 2026, the newspaper faced another major setback when security forces raided its Namuwongo headquarters, disrupting the operations of the Daily Monitor and its sister media outlets, including NTV Uganda, Spark TV, KFM, and Dembe FM.
More than three decades after its founding, the Daily Monitor remains one of Uganda's most influential newspapers.