By Guest Writer
Housing Finance Bank joined residents, partners and stakeholders of Akright City on Entebbe Road to celebrate 20 years of organised city development and its contribution to Uganda’s urban transformation through the Akright City Anniversary Marathon.
The marathon, held as part of Akright City’s 20th Anniversary celebrations, brought together residents, businesses, development partners and the wider community to commemorate two decades of planned urban development under the theme, “Celebrating 20 Years of Organized City Development as a Driver of the Ten Fold Growth Strategy, anchored on Agro Industrialisation, Tourism Development, Mineral Based Industrialisation and Science, Technology and Innovation (ATMS).”
Since its establishment in 2006, Akright City has grown from an undeveloped area into one of Uganda’s leading planned residential and commercial developments. The city, which started with about 500 people, now hosts more than 15,000 residents and represents an estimated investment value of nearly US$500 million.
Speaking at the event, Hellen Musubika Kanobere, Acting Head Mortgages and Consumer Banking at Housing Finance Bank, said the Bank’s participation reflects its commitment to supporting sustainable communities and expanding access to quality housing.
“At Housing Finance Bank, we believe that housing goes beyond providing shelter. It is about creating communities where people can live, work and thrive. Akright City demonstrates how organised urban development can transform lives, stimulate economic growth and create opportunities for generations to come. We are proud to be part of this journey and continue supporting Ugandans in achieving their homeownership aspirations,” she stated.
Over the past two decades, Akright City has expanded across approximately 1,700 acres, featuring more than 1,500 residential homes, commercial developments, industrial facilities, schools, recreational spaces and essential community services. The development has also contributed to job creation across sectors including construction, hospitality, retail and education.
Housing Finance Bank’s participation in the marathon reinforces its role as a key partner in Uganda’s housing ecosystem, supporting initiatives that promote planned urban development and address the country’s growing housing needs.
Over the years, the Bank has partnered with property developers, contractors and other players across the housing value chain to make homeownership more achievable for Ugandans. Through these partnerships, Housing Finance Bank provides financing solutions that support the development and purchase of quality homes while enabling customers to access affordable housing options.
The Bank continues to offer tailored housing finance solutions designed to meet the diverse needs of customers. These products include home loans and commercial mortgages. In addition, solutions such as the Zimba Mpola Mpola Incremental Housing Loan enable customers to build their homes gradually in phases, making homeownership more affordable and accessible by eliminating the need for a large upfront investment.The Bank also offers flexible mortgage repayment periods and competitive financing options that accommodate different income levels, making it easier for more Ugandans to own homes.
As Uganda continues to experience rapid urbanisation and a housing deficit estimated at more than 2.4 million units, Housing Finance Bank remains committed to working with government, developers and other stakeholders to expand access to affordable housing and support the growth of sustainable communities.
The Akright City anniversary celebrations highlight the impact of visionary planning, collaboration and community development in advancing Uganda’s urban transformation and economic growth. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
