By Aggrey Baba
Housing Finance Bank (HFB) and the Uganda Energy Credit Capitalization Company (UECCC) have joined forces to increase access to renewable energy financing in Uganda.
The partnership, supported by a UGX 5 billion credit facility, aims to make solar power, biogas, and other sustainable energy solutions more affordable for businesses, households, and off-grid communities.
This collaboration aligns with Uganda’s Vision 2040, which prioritizes expanding energy access as a driver of economic growth. It also supports global sustainability goals by promoting clean energy adoption and climate action.
Speaking at the launch, HFB Managing Director Mr. Michael K. Mugabi emphasized the bank’s commitment to green financing. “Sustainable energy financing is not just a business opportunity, but a responsibility. Through this partnership with UECCC, we are enabling more Ugandans to access clean and affordable energy, improving lives and driving economic growth,” he said.
UECCC Managing Director Mr. Roy Nyamutale Baguma highlighted the initiative’s impact on renewable energy investments. “By working with financial institutions like Housing Finance Bank, we are removing barriers to financing for clean energy projects. This partnership will create jobs, improve energy security, and contribute to Uganda’s renewable energy development,” he noted.
With Uganda’s strong solar potential and a growing global renewable energy market, the initiative positions the country as a leader in green energy financing.
The UGX 5 billion facility will provide affordable loans to those investing in solar, biogas, and other clean energy solutions, reducing reliance on traditional fuels.
This partnership marks a significant step towards a more sustainable and energy-secure future for Uganda. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
