Musasizi made the remarks after meeting the bank’s management led by Managing Director and Chief Executive Officer Michael Mugabi.
Musasizi commended the bank for its strong financial performance but said it should place greater emphasis on making credit affordable for Ugandans.
“I congratulated Housing Finance Bank for the steady growth and good performance over the years, adding that the Bank should focus on providing affordable credit to the population, aligning their investments with the tenfold growth strategy and also providing affordable housing to Ugandans,” Musasizi said.
He said the government and the bank also discussed measures to increase access to financing by mobilising additional resources and reducing the cost of borrowing.
“We engaged the Bank team on mobilizing resources to expand their portfolio, reducing interest rates, joint ventures and affordable mortgage financing among other issues,” he said.
The Finance Minister’s call comes as the government seeks to increase private sector investment by making financing more accessible to businesses and households, with affordable housing identified as one of the priorities under the tenfold growth strategy.
Housing Finance Bank Managing Director Michael Mugabi said the bank remains committed to supporting the government’s development agenda.
According to Mugabi, the bank is focusing on delivering government priorities at scale through sustainable housing, financing enterprises and extending banking services to people who have been left behind by mainstream financial institutions.