Prime Minister Robinah Nabbanja has reiterated government’s resolve to further strengthen the capital base of the Uganda Development Bank (UDB), saying this will enhance the Bank’s ability to finance priority sectors and fast-track Uganda’s socio-economic transformation.
Nabbanja made the remarks while presiding over a ceremony to pass out UDB staff who completed a refresher course in patriotic and transformative leadership at the National Leadership Institute (NALI) in Kyankwanzi district.
She noted that government has already injected an additional Shs1 trillion into UDB in the current financial year, underscoring the administration’s commitment to expanding the Bank’s lending capacity.
“As you are aware, government allocated an additional Shs1 trillion to UDB in the current financial year. We recognise the need to further grow the Bank’s loan portfolio and remain committed to strengthening its capital base so that it fully delivers on its mandate,” Nabbanja said.
The Prime Minister explained that through institutions such as UDB, government seeks to nurture a strong and resilient cadre of Ugandan entrepreneurs capable of driving sustainable economic growth and national transformation.
She described UDB as a key pillar in the execution of Uganda’s Ten-fold Growth Strategy, the Fourth National Development Plan (NDP IV), and Vision 2040.
“I commend UDB for prioritising this training for its staff. It demonstrates your understanding of the importance of leaders who are firmly grounded in the values, ideology and vision that guide our country,” Nabbanja added.
Nabbanja further acknowledged the Bank’s growing contribution to the economy, citing job creation, increased tax revenues, foreign exchange earnings, and improved productivity and profitability among supported enterprises.
The training programme focused on sharpening ideological clarity, strengthening national consciousness, and building leadership capacity to support the effective delivery of UDB’s mandate of financing long-term socio-economic transformation in line with national priorities.
UDB Managing Director Patricia Ojangole said the programme had strengthened staff understanding of the Bank’s mission and its role in advancing Uganda’s transformation agenda.
“The skills and knowledge gained at NALI have re-energised our team as we roll out UDB’s new five-year business strategy, which places stronger emphasis on structuring, transaction advisory, and crowd funding in development finance from both local and international sources,” Ojangole said.
She added that the training also deepened staff appreciation of Uganda’s strategic position within the changing global economic order and the country’s broader economic interests.
“UDB remains committed to providing the right financial instruments and solutions to enhance Uganda’s competitiveness and participation in the global economy,” Ojangole said, reaffirming the Bank’s support for private sector growth and resilience amid global volatility.
The training comes as UDB enters its second year of implementing a new five-year business strategy anchored on an expanded role in structuring, transaction advisory, and mobilising development finance from a wide range of local and international partners.
NALI Kyankwanzi Director Col. Okei Rukogota praised UDB’s leadership for prioritising ideological grounding and institutional unity.
“It is rare to see an institution bring all its staff together for ideological regeneration. We commend UDB’s leadership for this exemplary commitment,” Rukogota said.
In 2024, UDB’s total assets rose by 7 percent to Shs1,782 billion, up from Shs1,668 billion in 2023, largely driven by additional government capital injections and retained earnings.
The Bank’s loan portfolio also recorded growth, with net loans and advances increasing by 9 percent from Shs1,470 billion to Shs1,532 billion, reflecting UDB’s continued commitment to financing Uganda’s development priorities.
