Housing Finance Bank (HFB) has reiterated its commitment to promoting financial inclusion, sustainable growth and ethical banking as it expands its presence across the country.
Speaking at the launch of a new service centre in Nansana, Wakiso District, Managing Director Michael Mugabi said the institution’s steady evolution since 1967 reflects its long-standing mission of supporting Ugandans with accessible and affordable financial solutions.
“We have grown over the years from a mortgage-focused institution to a fully fledged provider of inclusive financial services,” Mugabi said. “Our goal is to ensure that ordinary Ugandans especially low-income earners and small entrepreneurs can confidently access formal financing to build their enterprises.”
Encouraging first-time borrowers and small business owners to take advantage of the bank’s tailored products, he added:
“If you want to start slowly, don’t fear to come and start. Our products are designed to support gradual but sustainable growth.”
Mugabi noted that the bank is expanding its service network in major cities, with another centre set to open in Fort Portal next week.
“Driving inclusion means bringing as many people as possible into the banking space. When we do that, we drive wealth creation,” he said.
He further highlighted sustainability as a central pillar of the bank’s operations, aligned with NDP III, the upcoming NDP IV and global Sustainable Development Goals. In 2024, HFB financed several green initiatives—including renewable-energy projects and affordable housing solutions—helping avert an estimated 1,000 tonnes of carbon emissions.
“This new branch will strengthen that journey by offering solutions such as international housing products, solar financing and other green innovations,” Mugabi said.
He also emphasised the importance of strong governance and ethical leadership, which he said are essential for maintaining public trust in a local financial institution.
“We sell trust. You bring your savings to a bank that is well governed, and we take that responsibility very seriously,” he said, thanking the Bank of Uganda and the Board of Directors for their oversight.
Representing the central bank, Bosco Bainamazima, Deputy Director in the Commercial Banking Department, praised Housing Finance Bank for its continued role in extending banking services to underserved communities.
“This expansion is part of the national and global financial inclusion agenda we want to see grow,” Bainamazima said. “The continued growth of Uganda’s financial sector is a milestone, and Housing Finance Bank is playing a key role in that journey.”
He commended HFB’s leadership and staff for decentralising services.
“By opening this branch, you are bringing services closer to the people who need them. And even when the physical branch closes, your digital channels ensure customers can continue banking seamlessly,” he noted.
Bainamazima said Nansana branch was a strategic choice due to its fast-growing commercial activity and high daily traffic.
Housing Finance Bank, founded in 1960, has grown from a mortgage-focused lender into a fully licensed Tier I commercial bank. It now operates 21 branches, more than 1,600 agents and 72 ATMs nationwide.
Bainamazima confirmed that additional branches have already been approved by the central bank as part of HFB’s expansion agenda.
He also pointed to the bank’s strong financial position and compliance record.
“You are in a strong financial position, and we encourage you to keep innovating around your historical strength in housing and mortgage finance,” he said. “Do not forget your history. It is what made you what you are.”
Describing the new Nansana branch as “more than just an addition to the network,” Bainamazima said it signified deepening trust between HFB and the communities it serves.
Before commissioning the facility, he reaffirmed the central bank’s support for the bank’s growth:
“Bank of Uganda will always stand with you as you work to build a strong, re