The final day of the 6th Edition of the NBS Housing Baraza brought critical conversations to the forefront under the theme, “Financing Options for Secure Land Ownership.”
This year’s event, focused on addressing Uganda’s housing crisis, highlighted the financial barriers hindering land ownership and affordable housing in a rapidly urbanizing country.
Uganda currently faces a housing deficit of 2.4 million units, with urbanization and limited access to affordable financing options exacerbating the situation.
Experts and stakeholders gathered to propose practical, sustainable solutions, with a strong emphasis on financial innovation and shifting mindsets to tackle these challenges.
A key highlight was Housing Finance Bank’s innovative loan product, Zimba Mpola Mpola (Build Slowly with Little Money). This incremental loan product targets low-income earners who find traditional 20-year mortgages impractical.
Peace Ayebazibwe, Executive Director of Housing Finance Bank, emphasized the importance of tailoring financing options to meet the needs of everyday Ugandans.
“Many people cannot afford to pull out large sums of money at once to build their dream homes. Incremental loans allow them to build step by step without draining their income,” she explained.
Ayebazibwe also stressed the need for a change in perception. “We need to change our mindset and see what more we can do within the affordable means we have. This includes hiring professionals to avoid costly mistakes,” she said.
Land ownership, as highlighted during the discussions, extends beyond financial capability. “Acquiring land requires professional guidance from surveyors and lawyers to avoid pitfalls such as fraud and disputes with squatters,” noted Florence Nambooze, a land surveyor.
Dr. Moses Mubiru, a land valuer and real estate consultant, pointed out the disconnect between developers, financiers, and consumers, calling for collaboration to align expectations and solutions.
“There needs to be a common ground. Housing for all is achievable, but the players must work in harmony,” he urged.
Joe Kigozi, Deputy CEO of Next Media, echoed the need for innovation in the housing sector.
“We need more innovation in housing. We need to see materials, designs, and all that speak to affordability,” he remarked.
Lands Minister Judith Nabakooba outlined the government’s strategic approach to the housing crisis, including the development of a National Physical Development Plan. This framework is designed to guide urban planning and the allocation of land uses.
“We are digitizing the land registry to make it more secure. The process has been ongoing for years and continues to be a work in progress,” she said.
Nabakooba added that the 2023 Land Policy is currently under review, with consultations underway.
To reduce construction costs, the government plans to incentivize the local manufacturing of building materials and provide guarantees to entrepreneurs.
She also revealed an exclusive national housing program targeting vulnerable communities in hard-to-reach areas and announced plans to adopt high-density vertical housing designs to optimize land use.
The 6th NBS Housing Baraza concluded with a collective call to action. From financial institutions introducing tailored loans to government efforts in physical planning and cost reduction, the message was clear: Uganda’s housing crisis requires a united effort.
With a growing urban population and a pressing housing deficit, the Baraza served as a vital platform to inspire collaboration, innovation, and commitment toward ensuring secure land ownership and affordable housing for all Ugandans.