Housing Finance Bank (HFB) has announced a strategic initiative to invest in Uganda’s tourism sector, offering financing solutions aimed at promoting growth, sustainability, and professionalism within the industry.
The move aligns with government efforts to achieve a tenfold expansion in tourism and related sectors.
Angella Ndawula, Business Lead at HFB, said the bank will provide services including asset financing, commercial mortgages, and operational loans to help tourism operators expand and modernize.
“We want to work closely with tourism players to understand their business needs and offer financing solutions that enable growth—from construction of facilities to day-to-day operations,” Ndawula explained.
Tourism stakeholders welcomed the intervention, calling it a long-overdue solution to chronic underinvestment. Amos Wekesa, Team Lead at Great Lakes Safaris, highlighted that inadequate financing has long hampered sectoral progress.
“Housing Finance Bank’s intervention is timely, and I encourage other financial institutions to follow suit. Increased financing will help tourism contribute even more significantly to Uganda’s economy,” he said.
Jean Byamugisha, CEO of the Uganda Hotel Owners Association (UHOA), noted that Uganda’s growing infrastructure—including roads and planned regional airports—provides a strong foundation for investment.
However, she emphasized that underinvestment and capacity-building challenges remain.
Hospitality consultant Garry Clement stressed the importance of offering authentic, uniquely Ugandan tourism experiences, combined with digital transformation to meet modern travellers’ expectations.
“Uganda should build its brand around authenticity—unique, affordable, and memorable experiences that reflect its culture and natural beauty,” Clement said.
Through this initiative, HFB aims to be a strategic partner in transforming Uganda’s tourism landscape, supporting investment in infrastructure, innovation, and workforce development.
The bank’s financing solutions are expected to unlock new opportunities for local operators, enabling them to compete regionally and globally while contributing to the country’s broader economic growth.