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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.”

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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

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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.


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.

Azibo Gilbert - Winner Staff Category

Housing Finance Bank Rewards “Christmas Comes Early – Season 2” Campaign Winners

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Finance Bank (HFB) has rewarded its “Christmas Comes Early- Season 2” campaign winners today, February 22, 2019 at its head offices in Kololo.

The “Christmas Comes Early Campaign- Season 2” is intended to engage HFB customers and give them an opportunity to win a plot of land as well as a range of prizes that include household items amongst others.

“This campaign is intended to drive our promise to provide a complete and competitive value proposition for our customers while leveraging on the Bank’s core mortgage and housing finance business. This proposition includes exciting offers such as discounts on properties through our partnerships with various developers, household items and a grand prize of an apartment for one lucky customer,” says the Managing Director, Mr. Michael. K. Mugabi.

Today, our customers will be awarded with a range of household items that include school fees, fridges, microwaves, home theatres and so much more!

The “Christmas Comes Early-Season 2” campaign has been running from September 2018 – January 2019 and today two lucky customers will win plots of land worth 15m and 10m respectively. Furthermore the Bank can now offer up to 100% financing on mortgages which is yet another initiative to offer excellence in our customer service at the Bank.

Celebrating 50 years of service in Uganda

Celebrating 50 years of service in Uganda: The rich tale of Uganda’s only indegenous bank!

By | Latest News

Housing Finance Bank celebrated 50 years of service in Uganda. This golden jubilee is a big milestone for the Bank.  It symbolizes our unique heritage as an indigenous Bank that has been dedicated to serving the public while growing in a profitable and sustainable manner. It also re-affirms our commitment to provide tailor-made financial solutions in housing and other sectors of Uganda’s economy.

As an organization, we are delighted in celebrating 50 years of service in Uganda. This success story has been shaped by our tireless commitment to serving the Bank’s customers over the years. We continue to look to the future and seize the opportunity to serve Ugandans, making a meaningful impact on their lives across the country.

Governance and customer centricity

One of the key pillars that have kept us going is the presence of strong governance framework. Our leadership and governance right from the board through to management is elaborate and strong. Banks sell trust and once this trust is eroded, chances of collapsing are high. Housing Finance Bank has built a legacy that is based on the core values of excellence, respect, integrity and customer- centricity. We are always willing and are committed to service over and above the minimum standards and we always uphold high moral and ethical principles in our actions towards customers and all other stakeholders.

We respect and recognize the ideas and opinions of our customers and are focused on the superior satisfaction of those we serve at all times. These are the guiding principles that have kept the Bank strong for the last fifty years and will continue to guide all of the Bank’s actions in coming years.

The Bank in the Housing Sector

The evolution of Uganda’s housing sector is punctuated by rapid urbanization and population growth. With an urbanization rate of 5% per annum, a large percentage of the population will be urban dwellers in the coming few decades. 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 massive opportunity for development and investments in the sector for all players, public and private.

As the flagship provider of mortgages and housing finance for Uganda since 1967, the Bank started hosting a dialogue that brings together stakeholders and key players along the housing value chain both in the public and private sector to address fundamental deficiencies within the sector.

Unsurprisingly, the majority of new housing units for the Ugandan market was targeting the high end yet there is an acute housing deficit that is not being served by developers at the middle and bottom end of the income pyramid.

Key Interventions

At the time of holding the first dialogue, in 2015, the cheapest mortga-able home on the market by a formal developer was 135 million shillings but as a result of advocacy for affordable housing, we are  now seeing a steady supply of fairly priced units as low as 70 million shillings. This is still a long way in combating the deficit all together. However, it is a major step towards creating affordability for housing across the country. We have actualized a number of initiatives as an institution; among these have been the vibrant engagements with government in terms of support for a housing policy, as well as developments and interventions from a policy perspective. We currently have a strong housing policy where housing is at the forefront.

We have also had interventions from the infrastructure perspective and here we look at the critical elements that make housing expensive and how they can be lowered, say for example utilities. We have also gone on to fund developers and off- takers of those housing units from the developers. We have also introduced our up to 100% financing. Ordinarily in a home loan, one contributes 20-30%, but because of the challenge in Uganda, we can now give up to 100% financing to prospective home-owners. All these are interventions aimed at improving affordability of decent housing.

The Operating Environment

Uganda’s banking industry is robust and is operating in an exciting era of digital transformation, financial deepening and growth of the financial sector. The amendment of the financial institutions Act in 2016 to allow Agent Banking, Bancassurance and other lines of business have created new opportunities to grow revenues outside of the traditional interest income to non-funded income streams. This has created new opportunities for partnerships and collaboration for example, banks are now able to offer insurance products in partnership with insurance companies.

From a digital perspective, banks are now partnering with Fintechs and telecoms to increase their reach, with many banking platforms now being inter-operatable with telecoms to conveniently push and pull funds across the mobile money and financial eco-systems. Furthermore, the creation of the agent banking shared platform by the Uganda Banker’s Association has increased collaboration within the sector with the banks now able to bring services closer to the masses in a cost effective way. All of these initiatives have put the sector on the right path for growth and will continue to transform the sector in the coming years.

The Future

We are strongly aiming to improve on our standing in the industry by positioning ourselves as the most preferred Bank. We expect to achieve this by focusing on the delivery of a dynamic customer experience to drive our growth as an institution. We will also continue to devise solutions and interventions that speak to the customer value proportion of convenience, responsiveness, reliability and affordability and we shall increase our footprint across our existent agents and digital channels that we have continuously rolled out such as internet banking, investment management, mobile banking and alerts. We shall also strengthen our focus in the housing space as we drive affordability and flexibility in our mortgage and housing finance offerings.

We would like this journey to be an inspiration to many indigenous organizations in Uganda. There is enough room for growth and development of our economy with consistence, hard work and a strong workforce.

On a whole, the sector still has some way to go particularly in addressing the adequate supply of affordable units. Many developers are still growing their capacity to build to scale and as such they build a small number of units for the high income segment where margins are higher. Stakeholders also need to address further constraints to affordability such as design and cost of materials by exploring the use of new building technologies. However, a key factor contributing towards the cost of housing is infrastructure i.e. water, electricity and roads. Most people have to build some public infrastructure as part of their home and research shows that this contributes anywhere between 15 to 25% of the cost of a house. But for larger projects, the cost of public infrastructure may contribute as much as 40% to the final price of a house. Therefore it is clear that by simply providing public infrastructure; it is possible to bring down the price of a completed house by at least 30% and with these supply side bottlenecks sorted out, the supply of affordable houses will be matched with demand which already exists for well-priced homes that can be acquired through mortgages.

The good news is that unit costs are coming down due to the benefit of densification and the economies of scale made possible with the condominium law. As a result of this and our efforts to bridge the gap between developers and home buyers, affordability is now more than ever before a reality and the future of the sector in Uganda is very bright.