Housing Finance Bank Opens Soroti Branch, distributes 1,500 Trees to Promote Sustainability

Housing Finance Bank has officially opened its newest branch in Soroti, marking a milestone in its mission to expand access reliable financial services across Uganda. Located at Plot 67 Gweri Road on Soroti Main Street, the branch brings convenience, customer-centered banking closer to individuals, farmers, traders, and small businesses within the Teso sub-region.

This launch adds to the Bank’s 21-branch network nationwide, reinforcing its commitment to financial inclusion and economic empowerment. Housing Finance Bank Soroti will offer a comprehensive range of financial solutions tailored to meet the needs of diverse customer segments. Individuals and families can access savings and current accounts, personal loans, and mortgage financing to support them achieve home ownership and personal goals. Farmers and agribusinesses will benefit from agricultural loans, equipment financing, and specialized credit facilities designed to support production, value addition, and commercialization while traders and MSMEs can take advantage of business accounts, working capital loans, and advisory services to strengthen entrepreneurship and drive job creation. Additionally, customers will enjoy the convenience of digital banking through secure mobile and online platforms, enabling transactions anytime, anywhere.

The Guest of Honor, Vice President Jessica Alupo, hailed the development as a catalyst for inclusive growth and reassured the government’s support:
“Today, we open another chapter in the story of Soroti’s economic rise. Housing Finance Soroti branch is an economic rebalancing tool bringing services closer to the people, reducing exclusion, and amplifying regional momentum. The Government remains committed to creating an enabling environment for businesses to thrive, farmers to prosper, and communities to grow. One of these interventions is the Small Business Recovery Fund, designed to help enterprises rebuild and thrive following the impact of COVID-19. We are pleased to announce that Housing Finance Bank is an authorized partner bank for this fund, offering eligible businesses access to affordable financing. If you own a small or medium-sized business and are ready to rebuild, expand, or stabilize operations, now is the time to take advantage of this opportunity at very low interest rates. “

Representing the Bank of Uganda Director Commercial Banking, Hannington Wasswa, highlighted the Government of Uganda’s efforts to boost economic growth. He said “The Government of Uganda has introduced key initiatives to support economic growth and improve the livelihoods of all citizens. One of these interventions is the Small Business Recovery Fund, designed to help enterprises rebuild and thrive following the impact of COVID-19. He also congratulated Housing Finance Bank on its strategic expansion:
“This new branch is a strong signal of confidence in Uganda’s financial sector and in Housing Finance Bank’s ability to serve communities responsibly and sustainably. Physical branches remain essential touchpoints for SMEs, farmers, and households that rely on personalized financial guidance. Soroti is emerging as a key agro-industrial hub, and this branch will enhance financial inclusion, support enterprise growth, and stimulate economic activity across the region. As the Central Bank, we pledge to continue fostering a strong, inclusive, and well-regulated financial system.”

Speaking at the launch, Mr. Michael K. Mugabi, Managing Director of Housing Finance Bank, stated:
“The opening of our Soroti branch is our commitment to progress. We are here to empower individuals, strengthen businesses, and support the community with solutions that respond to their needs. Our goal is to make banking accessible, affordable, and transformative for every Ugandan. This branch will serve as a hub for financial growth and resilience in the Teso sub-region.

Also present was John Michael Okurut, the Resident City Commissioner Soroti, Joshua Edogu Mayor of Soroti City and several leaders from Kumi, Serere and surrounding districts

In line with its Tiny Forest Initiative, Housing Finance Bank also distributed 1,500 tree seedlings during the launch to promote environmental sustainability and climate resilience. This effort reflects the Bank’s belief that true progress must balance economic growth with ecological stewardship.

Through initiatives like Soroti branch launch, coupled with the tree-planting initiative, Housing Finance Bank continues to invest in people and the planet empowering households, supporting businesses, and driving sustainable development throughout Uganda.

The launch of the new branch in Soroti comes a week after opening a branch in Nansana, one of the growing business hubs in metropolitan Kampala. This underscores the indigenous bank’s purpose to finance a sustainable future for all through financial inclusion, fostering sustainable enterprises and enabling home ownership.

Housing Finance Bank is one of the 10 largest banks in Uganda with a purpose to finance a sustainable future for all through offering convenient, affordable, and relevant solutions for 58 years.

First incorporated as a private limited company in 1967 as Housing Finance Company Uganda Limited, carrying out business as a non-banking credit institution providing mortgage finance and accepting savings deposits from the public, the bank became licensed and regulated by Bank of Uganda as a Commercial Bank in 2007, to carry on the business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited. Housing Finance Bank’s vision is to be the preferred business and consumer bank with a focus on Housing finance.

The Bank boasts of 21 branches spread out across Uganda.