Housing Finance Bank deepens Hoima push as Bunyoro housing demand grows
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Housing Finance Bank is expanding its Hoima operations and widening its micro-lending offer, as rising economic activity in Uganda's Bunyoro region fuels demand for housing, agriculture and small-business finance.
Housing Finance Bank (HFB) is strengthening its presence in Hoima as growing economic activity in Uganda's Bunyoro region creates new demand for housing, agricultural, micro-business and small and medium enterprise financing.
The bank made the commitment during a customer engagement forum in Hoima, where its leadership met customers and stakeholders, with the Prime Minister of Bunyoro Kingdom, Omuhikirwa Andrew Byakutaga, as guest of honour.
Ivan Kituka, HFB's Head of Distribution and Alternative Channels, said customer feedback has shaped the bank's growth in Hoima since it opened a branch there in 2023. The bank initially focused on SMEs before adjusting its offer, adding a Micro Banking section with financing ranging from Shs200,000 to Shs50 million for micro businesses and households that build incrementally.
Byakutaga said the region's agriculture, coffee production, housing and enterprise are expanding, but access to land documentation and affordable finance remains critical for residents to participate. He pointed to the region's housing deficit, noting that a relatively small proportion of residents live in permanent houses, and urged banks to expand affordable housing solutions such as HFB's Zimba Mpola Mpola product to let households build progressively.
HFB said it is also widening financial access through agency banking and digital channels including USSD banking on *225#, and offers farmers a large-scale farmer facility at zero interest, subject to applicable requirements, plus an Agricultural Credit Facility at a subsidised 12% rate. One customer, Embati Williams, said HFB financing allowed him to complete a construction project in under three years that he had expected to take about eight.