Kampala, Uganda – Business enterprises, constituting over 90% of Uganda’s private sector and contributing at least 20% to the GDP while employing millions of Ugandans, are pivotal drivers of the country’s socioeconomic development. Nevertheless, these indispensable entities often grapple with multifaceted challenges that necessitate the intervention and support of financial institutions.
In full recognition of this pivotal role, Housing Finance Bank recently convened a contractors’ forum at Hotel Africana that brought together business and industry leaders from diverse sectors, united in their efforts to provide feedback, share perspectives, and offer suggestions. This initiative is integral to the Bank’s ongoing commitment to serving business needs and cultivating partnerships that foster enterprise growth while increasing customer satisfaction by over 90% by 2027.
Led by a distinguished team comprising Mr. Michael K. Mugabi, Managing Director; Ms. Peace K. Ayebazibwe, Executive Director; and Angela Ndawula, Head of Business and Institutional Banking and other senior executives, the Bank’s contractors’ forum provided an invaluable platform for comprehensive discussions on the effectiveness and impact of Housing Finance Bank’s suite of business banking solutions, encompassing trade financing, vehicle financing, and asset financing.
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“As a Bank, we have crafted a robust customer value proposition but are constantly pursuing continuous improvement. These gatherings play a vital role in enabling us to critically listen and gather feedback, which in turn supports the refinement of our solutions to align with the real-world requirements of our esteemed customers,” emphasized Mr. Michael Mugabi, Managing Director of Housing Finance Bank.
Throughout the event, Angela Ndawula, Head of Business and Institutional Banking, underscored the importance of collaborative efforts in strengthening the bonds between the Bank and the business community. “Our commitment to the business community transcends mere financial transactions and more into creating enduring partnerships that contribute to the growth of enterprises. This forum underscores our dedication to crafting banking solutions that genuinely address the needs of businesses and contractors in Uganda,” she affirmed.
Jonah Stanislaus, an official at the National Enterprise Corporation and a long-standing Housing Finance Bank customer, shared his perspective on the customer service forum, highlighting Housing Finance Bank’s unwavering dedication to serving the Ugandan business community. “We have been banking with Housing Finance since 2010, particularly in vehicle and asset financing. We have witnessed their commitment to delivering tailored solutions significantly contributing to our business growth.”
Housing Finance Bank remains steadfast in its ongoing efforts to create avenues for stakeholder engagement across the business community. These endeavours not only drive business growth but also make a lasting impact on Uganda’s socioeconomic development.
Housing Finance Bank focuses on making banking easy and enabling customers to be in control of their financial and banking needs. 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. Subsequently, the Bank became licensed and regulated by the 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.
