fbpx
Category

Latest News

Housing Finance Bank Celebrates Breast Cancer Awareness Month

By | Latest News, Social Responsibility

On Friday 23rd October, Housing Finance Bank hosted staff members to a healthcare webinar in commemoration of Breast Cancer Awareness month.

The Breast Cancer Awareness Month, marked in countries across the world every October, helps to increase attention and support for the awareness, early detection and treatment as well as palliative care of this disease. Breast cancer is by far the most common cancer in women worldwide, both in the developed and developing countries. In low- and middle-income countries the incidence has been rising up steadily in the past few years due to increase in life expectancy, increased urbanization and adoption of certain lifestyles. In Uganda, breast cancer the second most common cancer in women coming only next to cancer of the cervix.

During the webinar that was facilitated by a trained healthcare expert, the staff members were taught about early detection, treatment, staging, management and self-examination as a method of detecting breast cancer before it has progressed.

According to Ms. Peace Lillian Piwang, the Head of Human Resource at Housing Finance Bank, awareness and early detection of breast cancer are constitute the key breast cancer prevention avenues.

“We believe in the fact that health is ealth and the wellbeing of our staff and their families is a key priority here at Housing Finance Bank. We therefore felt it prudent to commemorate breast cancer awareness month with a free education session to equip our staff with the right tools to avoid breast cancer,” she said.

Aside from the webinar, Housing Finance Bank staff at the different Bank branches donned pink ribbons throughout the day in a show of solidarity with breast cancer patients and survivors.

Housing Finance Bank to offer competitive rates on government securities

By | Latest News

Following its recent appointment as a primary dealer for Government securities, Housing finance Bank Uganda has announced that it will be one of the seven banks that have exclusivity to the primary auction under the competitive bidding where it will buy securities and sell them to investors at very competitive rates on the secondary market.

“As a new entrant in the new primary dealer reforms by Bank of Uganda, we were only appointed a Primary Dealer effective October 1, 2020, and have thought very carefully about our pricing. What I can assure you is that our pricing is going to be very competitive and will give our customers confidence that they have made the right choice,” Robert Nyehangane, the Head of Treasury at Housing Finance Bank says.

In a media statement, Bank of Uganda announced that from October 1, 2020, competitive bidding in the primary market for government securities would be limited to only seven primary dealer banks.

According to the Central bank, this move was aimed at enhancing liquidity in the secondary market.

Nyehangane explains that the addition of Housing Finance Bank as a Primary Dealer, shows that it has among all the other banks, demonstrated capacity to effectively carry out the task.

“Housing Finance Bank has a well-defined strategy both generally as a business and specifically with regard to making the market for government securities. We have demonstrated that we can trade these government securities from the volume and value of transactions that we do in both the primary and secondary market. This was one of the criteria for qualification as a primary dealer,” he explained.

The primary market is a marketplace where debt instruments are purchased from the issuer, being Government of Uganda through Bank of Uganda, and the Primary Dealers bid for these instruments exclusively for amounts above 200M.

He further explains that the primary auction has both competitive bidding and non-competitive bidding. Competitive bidding is for amounts above Ush200 million, while non-competitive bidding is for amounts below Ush200 million. The threshold basically means that for the amounts below 200M, anyone can still buy securities on the primary market.

These securities are then sold on the secondary market; where anybody buying the Government securities is buying them from a primary dealer.

Why invest in government securities?

According to Nyehangane, government securities are risk free instruments that offer customers assured and good returns on their investments.

“With this investment, you are lending to the government of Uganda which can’t default. So it is risk free and the returns are higher than various investments that you can think of. Most importantly, it’s an investment that you can liquidate at any time you need the money. If you for instance made the investment today and one year down the road you have a challenge, you just approach the Housing Finance Bank which buys it from you and gives the cash back to you.”

“Because bonds are long term investments (up to 15 years). The fear would be that if invest in this security, I have to wait until maturity before I can access the funds but that is not the case because you can sell it and  additionally, bonds have interest coupon payments every six months. So it gives you good cash flows for a long term investment that you have made unlike some other investments where you have to wait until maturity,” he explains.

How do I start investing in these Government securities?

  1. All you need to do is to open a savings or current account with Housing Finance Bank if you don’t have one already.
  2. The bank will facilitate the process of opening a Securities (CSD) account with Bank of Uganda
  3. The minimum amount required to invest is Ushs 100,000
  4. Approach any branch near you to initiate the transaction for investments or call us on any of these numbers; 0417 707 510, 0417 707 569, 0417 707 771, 0417 707 619
  5. Investment options include Treasury bills for 91, 182, 365 days or Treasury bonds for 2, 3, 5 10, 15 years.
Mr Michael. K. Mugabi, Managing Director, Housing Finance Bank

Housing Finance Bank Partners With Water For People to Drive Improved Sanitation

By | Latest News, Social Responsibility

Housing Finance Bank will launch its partnership with Water for People to implement a citywide inclusive sanitation program, where 30,000 landlords will benefit from improved sanitation loans around 5 divisions in Kampala.

This launch will be held over a virtual engagement on Tuesday September 08, 2020 at 10:00am.

“As a financial institution, we seek to work with different stakeholders in the sector to provide an improved customer value proposition that will enable all Ugandans both low and high income earners access improved sanitation loans around 5 divisions in Kampala,” says the Managing Director Housing Finance Bank, Mr. Michael. K. Mugabi.

Mr Michael. K. Mugabi, Managing Director, Housing Finance Bank

Mr Michael. K. Mugabi, Managing Director, Housing Finance Bank

In her remarks, the country director Water For People, Mrs. Cate Zziwa Nimanya, asserted that good sanitation is a responsibility that calls for our effort and together make a lasting contribution in improving our ways of life and well-being.

“There is a need for sanitation in order to eliminate poverty and enhance well-being in a country. Water for People is therefore honored to be part of this partnership in a bid to empower families who live with a constant burden of uncertainty, stress and fear because of poor living conditions. I would also like to thank financial institutions like Housing Finance Bank which have remained consistent in driving this agenda for all,” she says.

Mugabi further adds that for over 50 years now, Housing Finance Bank has continued to provide viable solutions that enable home ownership for all Ugandans and together, we shall leverage on all available platforms to ensure decent living and home ownership.”

In Uganda, provision of decent low cost housing is promoted through some key intervention areas which include; Housing Microfinance that supports low income earners to undertake incremental micro-home-loans, Vulnerable Group Housing that provides fully subsidized social housing support for vulnerable rural households, Market Systems Program that aims at seeking partnerships with private companies to provide and develop inclusive products for all income levels of people especially the low income earners, Urbanization program that is aimed at addressing issues on the New Urban Agenda such as housing, slum upgrading and sustainable environmental management and Housing Finance Bank’s incremental housing facility.  This of course can never be possible without good sanitation and hygiene and that is why Housing Finance Bank’s partnership with Water for People is a practical initiative in heeding to the dire need of decent living for sustainable economic growth and development.

Peace Kabunga, the Executive Director, Housing Finance Bank

COVID-19 Crisis: Housing Finance Bank Boss Tips Managers On How To Turnaround Companies

By | Latest News
Peace Kabunga, the Executive Director, Housing Finance Bank

Peace Kabunga, Executive Director, Housing Finance Bank

In a recent webinar organized by the Strathmore Business School, Peace Kabunga, the Executive Director, Housing Finance Bank responded to a number of questions regarding how leaders and managers can better position themselves so as to emerge stronger from the effects of the Covid-19 pandemic.

Read full session here

Mr Michael. K. Mugabi, Managing Director, Housing Finance Bank

Housing Finance Bank Contributes Personal Protective Equipment (PPE) Towards The Fight Against COVID-19 in Uganda

By | Latest News, Social Responsibility

Housing Finance Bank has joined the fight against COVID-19 in Uganda, through contribution of Personal Protection Equipment (PPE) to the Ministry Of Health today, Thursday March 09, 2020 at 10:00am. The PPE constituted 30 medical mattresses with PVC covers, 50 Litres of hand sanitizer and 30 boxes of non-sterile medium disposable gloves.

According to the Managing Director, Housing Finance Bank, Mr Michael. K. Mugabi, COVID-19 is a global pandemic that affects us all in one way or another hence the need to stand and fight together, in ensuring that we curb its spread and further eliminate the Corona Virus for good.

“As a fully- indigenous Bank, identifying with our communities and meeting them at their respective points of need is one attribute that we hold as a financial institution. We are cognisant of the fact that the COVID-19 pandemic is not only a global concern but a national issue, critical to all of us. Therefore, in the spirit of ensuring good health and well-being as a key driver in sustainable growth and development, we have contributed Personal Protective Equipment, to help in the various response plans and execution of all recommendations by the government of Uganda through its Ministry Of Health.”

The Minister of Health Dr. Jane Ruth Aceng applauded Housing Finance Bank for contributing such important items to the Ministry.

“Housing Finance Bank is indeed our indigenous Bank and a brand we are passionate about. I thank Housing Finance Bank for choosing these specific items. Personal Protective Equipment is very important to us because our front facing staff need it so much. The mattresses are medical mattresses with PVC covers plus the hand sanitizer and gloves are much more needed by our staff at such a critical time. Thank you so much Housing Finance Bank, for standing with us, as our Bank and above all affiliating with us at such a time of need”, she said.

Mugabi further adds that, the Bank has endeavoured to implement all the recommended measures and guidelines across its operations for the mutual benefit of staff, customers and communities at large.

“We believe that through everyone’s concerted effort, we shall bring our best feet forward, fight and beat COVID-19 together”, he says.

COVID-19 was declared a global pandemic by the World Health Organisation on March 11, 2020 and has continued to affect various countries on the global scene. Uganda has so far registered 54 confirmed positive cases of COVID-19 and no death to date.

Housing Finance Bank partners with Universal Multipurpose Enterprises and Nakasero Blood Bank in a blood donation initiative

By | Latest News, Social Responsibility

Housing Finance Bank in partnership with Universal Multipurpose Enterprises and Nakasero Blood Bank held a blood donation drive on Friday July 12, 2019 in Naalya Estate.

The blood drive which was attended by the Mayor- Kira municipality, Mr. Mutebi Julius Nsubuga, the town clerk, Mr. Yiga Benon, dignitaries from Housing Finance Bank, Universal Multipurpose Properties and the Nakasero Blood Bank, was aimed at contributing to the adequate need of blood in the country.

According to the Communications and Public Relations Manager- Housing Finance Bank, Ms. Connie Nankya, “The need for blood is a nationwide aspect. In Uganda, 340,000 units of safe blood is required to meet health needs annually and the daily blood needs are ever increasing. Accident victims, women in labor, children, patients at all fronts requiring transfusion, are on the rise increasing the need for blood in hospitals every day. It is therefore important for us to participate in such initiatives that bind us together in sharing the same goal – saving life.”

Universal Multipurpose Enterprises’ Managing Director- Muffaddal Yeolawala adds that, blood donation is everyone’s responsibility. “It is with pleasure that we joined our partners, Housing Finance Bank customers and the Nakasero Blood Bank to conduct today’s blood donation activity. 450mls is all that is required per head at any given time. We are aware that some of our customers within the residential areas may not be able to travel and donate blood away from home for one reason or another. This is why we took the initiative and extended the services to them so that we can make this contribution together in saving lives.”

One of the customers Annet Mbabazi who was donating blood for the first time was pleased to be engaged in today’s exercise given her long time wish to make this worthwhile contribution to save life.

“I was very happy when I was told that I could donate blood because while I have always wanted to do so, I was hindered by varying reasons here and there. Thankfully today, I was able to do so. I think everyone should take heed as and when they can and donate blood. We are all affected by the need for more blood in our blood banks. Whether it is for ourselves, relatives, an unknown patient, we need blood so I feel proud of myself that I gave blood today and encourage everyone else to do the same. Even better within the confines of my residential area.”

Nakasero Blood Bank appreciated everyone who participated while urging the public and other organizations to do the same and save life through blood donation.

Housing Finance Bank's Managing Director- Mr. Michael.K.Mugabi, Habitat For Humanity's National Director, Mrs. Leticia Kiyingi, 2nd Deputy Prime Minister Buganda Kingdom, Owekitiibwa Robert Waggwa Nsibirwa ahead of the ground breaking activity to launch the "Decent Living Campaign".

Housing Finance Bank partners with habitat for humanity and the buganda kingdom to provide decent living to vulnerable families

By | Latest News, Social Responsibility

Housing Finance Bank partnered with Habitat for Humanity and the Buganda Kingdom to champion the “Decent Living Campaign.” This is an initiative aimed at improving lives through decent shelter, better livelihood, access to safe and clean water, better hygiene and sanitation with an objective to support approximately 360 individuals by 2030.

This was kicked off with a ground breaking ceremony in Entebbe, Busiro county on July 27, 2019 where the first set of houses will be constructed, and more are to be constructed in each of the other 6 counties of Kyadondo, Ssingo, Mawokota and Kyaggwe.

Housing Finance Bank partnered with Habitat for Humanity and the Buganda Kingdom to champion the “Decent Living Campaign.” This is an initiative aimed at improving lives through decent shelter, better livelihood, access to safe and clean water, better hygiene and sanitation with an objective to support approximately 360 individuals by 2030.

This was kicked off with a ground breaking ceremony in Entebbe, Busiro county on July 27, 2019 where the first set of houses will be constructed, and more are to be constructed in each of the other 6 counties of Kyadondo, Ssingo, Mawokota and Kyaggwe.

“Our journey on the “Decent Living Campaign” started last year when we joined our partners at Habitat For humanity and key stakeholders from the Kingdom of Buganda, to launch this initiative on October 27, 2018 at the Kampala Serena Hotel. This groundbreaking ceremony is therefore a key milestone as far as the implementation of this campaign is concerned. As a financial institution, we seek to work with different stakeholders in the housing sector to provide an improved customer value proposition that will enable low income earners in Uganda access housing finance solutions for low cost housing,” says the Managing Director Housing Finance Bank, Mr. Michael. K. Mugabi.

In his remarks, the second deputy prime minister of the Buganda Kingdom, Owekitibwa Robert Waggwa Nsibirwa asserted that housing is a responsibility that calls for our effort and together make a lasting contribution in improving the housing sector.  “There is a need for social housing in order to eliminate poverty housing in Uganda. Every day, more and more vulnerable families like widows, elderly and children especially in the rural areas find themselves in a struggle to keep a decent roof over their heads. The Buganda Kingdom is therefore honoured to be part of the “Decent Living Campaign” in a bid to empower families who live with a constant burden of uncertainty, stress and fear because of poor living conditions. I would also like to thank financial institutions like Housing Finance Bank which have remained consistent in driving the affordable housing agenda for all. For over 50 years now, Housing Finance Bank has continued to provide viable solutions that enable home ownership for all Ugandans and together, we shall leverage on all available platforms to ensure decent living, under this campaign.”

 

Mr. Ssentongo Abubaker who is 75 years old, a father to four children and three grandchildren was the first beneficiary under this campaign. Ssentongo suffered a back injury that made him unable to fend for his family and continue with his brick laying business. The family of 9 has been living in a one roomed house and relying on the neighbors for the toilet and bathroom amenities. With great emotion, Ssentongo remarked that he was humbled and greatly honored to have an opportunity to be supported by such dignitaries from respectable organizations. “For a long time I have longed for a home for my family and Iam happy that this dream is finally coming to life”

The National Director, Habitat For Humanity, Leticia Kiyingi greatly appreciated Housing Finance Bank and the Buganda Kingdom for joining them in driving the decent living initiative. “Every day, vulnerable families headed by widows, the elderly and sometimes even children especially in the rural areas find themselves in a struggle to keep a decent roof over their heads.  It is therefore a fulfilment of our vision to see such families being supported through such initiatives”, she said.

In Uganda, provision of decent low cost housing is promoted through some key intervention areas which include; Housing Microfinance that supports low income earners to undertake incremental micro-home-loans, Vulnerable Group Housing that provides fully subsidized social housing support for vulnerable rural households, Market Systems Program that aims at seeking partnerships with private companies to provide and develop inclusive products for all income levels of people especially the low income earners, Urbanization program that is aimed at addressing issues on the New Urban Agenda such as housing, slum upgrading and sustainable environmental management and Housing Finance Bank’s incremental housing facility.

NBS Television in Partnership With Housing Finance Bank to Host The Inaugural “Housing Baraza.”

By | Latest News | No Comments

NBS Television in partnership with Housing Finance Bank will host the inaugural “Housing Baraza” on July 25, 2019 at the Kampala Serena Hotel under the theme, “Housing For Wealth Generation-Improving Household Wealth Through Uganda’s Real Estate”.

The Managing Director, Housing Finance Bank, Mr. Michael. K. Mugabi affirms that housing and shelter generally go beyond being a basic human need and have settled well in our norms and traditions as a means of wealth generation, source of livelihood and wellbeing. There is no doubt that with increasing urbanisation (now growing at a rate of 5.2% P.A), the shortage of housing continues to soar. Needless to mention, the housing deficit of over 2million units is further exasperated by increasing urbanisation which escalates pressure on the availability of decent and affordable housing. The National Development Plan 2015 to 2020 estimates that Uganda will need at least 12.6 million new housing units within the next thirty years to keep up with its population growth. This backdrop clearly demonstrates the huge challenges and the massive opportunity for all stakeholders in the housing value chain.

“As the leading financial institution in the provision of mortgages and housing finance, we have partnered with NBS television and other stakeholders to have “The Housing Baraza”, and bring together key stakeholders and players in the housing value chain to discuss various interventions and avenues that will go a long way in addressing the deficit in the availability and supply of decent and affordable housing in the country, as well as address constraints from the demand side. The Bank has continued to engage with funders like the European Investment Bank, African Development Bank, French Agency For Development and NSSF-Uganda, for access of cheap and long-term funding in a bid to drive the uptake of housing. Housing Finance Bank has previously held the “2016 Housing Finance Conference” and “2017 African Union for Housing Finance Conference” through which different players in the housing value chain have continued to harness ways and avenues of addressing the challenges in the housing and mortgage space. This year, we are delighted to once again present another platform where we can amplify and augment the discussion on feasible solutions for addressing the housing market and challenges in Uganda,” Mr. Mugabi adds.

According to the Managing Director NBS Television, Mr. Kin Kariisa, “our objective is to demonstrate immediately available opportunities for individuals and groups to access decent, modern and affordable housing by bringing together key stakeholders in the housing sector, to dialogue directly with the public in a town hall style engagement.”

This inaugural “NBS Housing Baraza” will explore some of the following factors which include:

  1. The impact of Uganda’s Real Estate tax regime across the value chain from acquiring land to using completed developments as a tenant or homeowner
  2. Various local and international housing, construction and financial innovations that can contribute to reducing the cost of providing affordable housing and housing finance
  3. How group savings and investment vehicles like Collective Investment Schemes, SACCOs and investment clubs can contribute to achieving affordable housing and housing finance
  4. Urgent challenge demands, recommended collaboration between the Government, Private Sector, Civil Society and the Public in the quest to achieve affordable housing and reducing the national housing backlog.

The event will also feature a “Housing Bazaar”, which will be a purpose-built, free-to-access marketplace, where our partners and other exhibitors will showcase their latest products, services and solutions in addressing the housing challenge in Uganda.

The “Housing Baraza” is an initiative that will feature other partners like Uganda Revenue Authority, National Water & Sewerage Corporation, National Housing & Construction Corporation, Roofings, RE/MAX Uganda, Kampala Capital City Authority with whom we are all committed to driving and sharing the latest knowledge and innovation, demonstrating best practice and empowering consumers in the quest to achieve truly affordable housing and housing finance for all Ugandans.

Housing Finance Bank Participates In International Internal Audit Awareness Month

By | Latest News

Housing Finance Bank joined the global fraternity to participate in the International Internal Audit Awareness month on Friday May 03, 2019 under the theme #ValueInternalAudit.

The Bank held a breakfast launch across the branch network, where this year’s theme #ValueInternalAudit was communicated and demonstrated at varying fronts.

The function was graced by the Chairperson Board Audit Committee Mrs. Josephine Mukumbya, the Managing Director, Mr. Michael. K. Mugabi, Executive Director, Mrs. Peace Kabunga and the Head- Internal Audit, Mrs. Dorothy Kiyaga, members from senior management and the staff fraternity.

The Internal Audit team, sealed off the day’s activities with a visit to Kololo Senior Secondary School where the team spent time with the students and contributed educational material to the school’s library.

#ValueInternalAudit

Housing Finance Bank Contributes Towards the Construction of Bishop Stuart University- Mbarara

By | Latest News, Social Responsibility

Housing Finance Bank contributed construction items towards the building of Bishop Stuart University library in Mbarara, on Friday March 01, 2019.

This contribution is one of the ways through which the Bank is promoting knowledge and education within its communities of operation.

“As a Bank, we aim at increasing our value proposition to our customers and areas/ communities of operation. This we shall continue to do through financial literacy and support knowledge sharing initiatives to the mutual benefit of all parties.”

Our contribution to Bishop Stuart University also provides a platform for the Bank to engage its varying communities and drive such causes as the completion of the university.

The donation was equally backed by a tree planting initiative which featured a number of members with in the respective communities.

The Bank will continue to engage, a range of activities and contribute to the growth and development within our communities.