"The police, working with the local community, have so far recovered 24 bodies from the lake," local police chief John Rutagira said, adding there were reports "many people are missing."
Many of those drowned were fishermen, but also include a one-year-old baby.
The small boat sank in the storm on Tuesday in Uganda's northeastern Buliisa district, according to the Daily Monitor newspaper.
Some 600 homes, a school, health centre and churches have been destroyed or damaged in the storm, Rutagira added.
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