By Mulengera Reporters
Housing Finance Bank has officially launched its new branch in Masaka, marking a milestone of 21 branches nationwide. This expansion follows recent branch openings in Nansana, enhancing access for peri-urban communities, and Soroti, strengthening financial services in the Eastern region. The Masaka branch is set to bring innovative banking solutions closer to local residents and businesses while serving as a hub for community engagement and economic growth.
Speaking to the people of Masaka, Michael Mugabi, Managing Director of Housing Finance Bank, said:
“To the people of Masaka, this branch is more than a new location. It is our pledge to walk alongside you in realizing your ambitions. At Housing Finance Bank, we are committed to empowering communities through accessible financial solutions, innovative services, and sustainable initiatives. Our presence here reflects our dedication to supporting your businesses, your homes, and your future while contributing to the enduring growth and resilience of this vibrant region and the nation as a whole.”
Adding her remarks, Josephine N. Mukumbya, Board Chair of Housing Finance Bank, emphasized that the opening of the Masaka branch aligns with Uganda’s National Development Plan IV, particularly its focus on stimulating economic transformation, promoting inclusive financial services, and strengthening local economies. She highlighted the importance of saving as a pathway to financial security and wealth creation, noting that the Bank remains committed to equipping Ugandans with the tools and platforms needed to build a stable financial future.
The Masaka branch is tailored to serve the local community, offering mortgages, savings accounts, business financing, and investment opportunities. Customers will also benefit from digital and mobile banking platforms, allowing them to transact conveniently and securely from anywhere. The branch is designed to support financial literacy programs, entrepreneurship workshops, and advisory services, helping residents and local businesses make informed financial decisions, grow their enterprises, and plan for the future.
The branch is also expected to contribute to the local economy by creating employment opportunities and supporting the growth of small and medium-sized enterprises, which form the backbone of Masaka’s economic landscape.
Representing the Bank of Uganda, Director of Commercial Banking Hannington Wasswa commended Housing Finance Bank for its expansion. He highlighted the government’s multifaceted approach to economic development, stating, “Our strategy focuses on fostering innovation, enhancing digital payments, and strengthening the MSME sector, all of which are critical to building a resilient economy.” He added, “This milestone reflects the bank’s agility and commitment to meeting Uganda’s evolving financial needs. As the financial landscape transforms, Housing Finance Bank’s strategic investments will undoubtedly unlock new opportunities for growth, especially in agriculture and agribusiness. We are proud to partner with institutions like Housing Finance Bank that share our vision for a prosperous Uganda, where financial services are accessible and sustainable.”
Commenting on how the Bank’s launch contributes to Uganda’s social-economic transformation, the Guest of Honor, Hon. Haruna Kyeyune Kasolo, the Minister of State for Microfinance and Small Enterprises, emphasized the significance of expanding financial access in Masaka. He remarked that the opening of the new branch represents a major step forward for the region, noting that reliable financial services are a powerful catalyst for progress. “Today’s launch is a win for Masaka. This branch gives our people more opportunities to build, expand, and secure their futures,” he said. Hon. Kasolo applauded Housing Finance Bank for selecting Masaka as a strategic location in its growth journey and for investing in the wellbeing and economic potential of the community, underscoring that such initiatives directly support the country’s broader development agenda.
As part of its broader sustainability agenda, Housing Finance Bank underscored the importance of environmental sustainability by distributing 300 tree seedlings during the launch. This initiative reflects the Bank’s commitment to promoting climate resilience and advancing economic growth that aligns with environmental care.
The launch in Masaka further demonstrates the Bank’s dedication to supporting communities across Uganda. Through initiatives that empower households, strengthen local businesses, and encourage long-term sustainability, Housing Finance Bank remains steadfast in its mission to foster inclusive development nationwide.
About Housing Finance Bank Ltd: Housing Finance Bank is one of the 10 largest banks in Uganda with a purpose to finance a sustainable future for all through offering convenient, affordable, and relevant solutions for 58 years.
First incorporated as a private limited company in 1967 as Housing Finance Company Uganda Limited, carrying out business as a non-banking credit institution providing mortgage finance and accepting savings deposits from the public, the bank became licensed and regulated by Bank of Uganda as a Commercial Bank in 2007, to carry on the business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited. Housing Finance Bank’s vision is to be the preferred business and consumer bank with a focus on Housing finance.
The Bank boasts of 21 branches spread out across Uganda. Find out more details about Housing Finance Bank at www.housingfinance.co.ug
