Housing Finance Bank (HFB) reaffirmed its dedication to expanding affordable housing opportunities during the 7th NBS Housing Baraza held at Next Media Park, an event that brought together key players from across Uganda’s housing sector.
This year’s Baraza, themed “A Home for Every Ugandan: From Dream to Doorstep,” gathered government officials, real estate developers, builders, financiers, suppliers, innovators, and citizens to explore new strategies for increasing access to affordable, sustainable housing and shaping Uganda’s housing future.
In his keynote speech, Housing Finance Bank Managing Director Michael K. Mugabi noted that achieving Uganda’s housing ambitions requires more than simply increasing production. He stressed the importance of building inclusive, well-planned, and sustainable communities supported by coherent policies and collaborative planning across all sector players. Uganda’s housing deficit currently stands at 2.4 million units, a gap he believes can be met through strong public-private alignment and supportive reforms such as the Valuation Bill and the Mortgage Refinance Bill.
Mugabi reaffirmed HFB’s role in providing accessible housing solutions, including home purchase loans, incremental construction loans, and green financing options, and urged developers, suppliers, and other financial institutions to support the entire housing journey. He emphasized designing homes for the working majority, prioritizing durable materials, and offering financing beyond completed units. “A housing sector that only caters to the elite cannot drive national transformation,” he said.
HFB’s Head of Mortgage and Consumer Banking, John Baptist Kaweesi, highlighted the bank’s efforts to close financing gaps through partnerships with developers. He explained that many Ugandans lack upfront funds for construction or home purchase, and when developers present innovative housing models, HFB works with them to finance prospective buyers. Initiatives like the Zimba Challenge, he said, help drive inclusive and sustainable growth in Uganda’s housing supply.
Beyond financing, HFB continues to support customers with expert guidance and cost-effective solutions through its Mortgage Centre, promoting high-quality and sustainable construction.
Guest of Honour Rt. Hon. Justine Kasule Lumumba, Minister of General Duties in the Office of the Prime Minister, underscored the importance of ensuring housing solutions address the needs of all socio-economic groups. She noted that housing is central to national development, intersecting with poverty reduction, health, dignity, and social well-being. She praised HFB’s Zimba Mpola Mpola initiative for enabling ordinary Ugandans to become homeowners through incremental loans.
Through Zimba Mpola Mpola, the bank continues to support Ugandans who previously lacked access to formal financing, empowering low- and middle-income earners to build homes gradually. To expand these opportunities, HFB is opening new branches in Nansana and Soroti this November, bringing affordable housing solutions closer to communities.
Stakeholders at the Baraza reaffirmed their commitment to building a future that prioritizes affordability, sustainability, and environmental responsibility.
