Housing Finance Bank is taking banking and housing finance solutions closer to communities through direct engagement with residents and businesses, giving more Ugandans an opportunity to understand and explore financing options for homeownership, property investment and business growth.
Through its HFB in Your Neighbourhood initiative, the bank recently engaged more than 100 residents and business owners in Kira Municipality, including those from Kira, Nsasa, Mulawa and Bulindo. The engagement provided an opportunity for participants to learn about available banking services and housing finance solutions without having to visit the bank’s head office or branches.
Lilian Nabisere, a Relationship Manager for Home Loans in the bank’s Mortgage and Consumer Banking department, said the initiative was designed to bridge the gap between the bank and communities that may not be fully aware of the financing solutions available to them.
“Our mandate is to finance a sustainable future for all, and we want to ensure that the people we serve understand why we exist and how we can support their financial goals. Through HFB in Your Neighbourhood, we are stepping out of our offices to engage directly with residents, understand their needs and bring relevant financing solutions closer to them,” Nabisere said.
She explained that the engagement in Kira reflected the needs and opportunities found in many growing communities across Uganda, where individuals are seeking to own homes, invest in rental properties and expand businesses. Some property owners may also be able to use the equity in existing assets to finance other investments, subject to the bank’s assessment and lending requirements.
“We see people who want to own homes, those who want to build rental properties and business owners who need financing to grow. Some already own property and could use the equity in those assets to pursue other investments. Our role is to make them aware of the options available and help them explore financing that suits their needs,” she said.
“As someone who runs a small hardware shop here in Mulawa, my income fluctuates month to month,” shared David Mukasa, a local resident who attended the engagement. “Learning about Zimba Mpola Mpola was a turning point for me. Knowing I can buy land and build my family’s house stage-by-stage without putting overwhelming strain on my daily business cash flow makes owning a home feel achievable.”
Among the solutions presented was Zimba Mpola Mpola, Housing Finance Bank’s incremental housing loan designed to support customers who wish to build their homes in stages according to their financial capacity. The product caters to different income earners, including those with irregular incomes, and can support customers from land acquisition through construction.
Richard Bob Sema, the Manager of Incremental Housing Loans, said the product recognises that homeownership is not always achieved at once, providing customers with an opportunity to work towards completing their homes in manageable stages.
The bank also offers traditional mortgage financing for customers seeking to purchase ready homes or finance residential and commercial construction. Eligible customers can access home purchase financing of up to 80 per cent of the property value, subject to the bank’s assessment and applicable lending requirements.
Other financing options include loans for acquiring residential, commercial and agricultural land, as well as equity release facilities that allow eligible property owners to explore financing against existing property for other investments.
“I’ve always wanted to open a formal bank account for my business in Nsasa, but the thought of long lines and paperwork at a branch kept pushing it down my to-do list,” said Sarah Namubiru, a local boutique owner. “When the team showed us how to start the process right on our phones using the USSD code, I was able to get started on the spot. It really brings convenience right to our doorstep.”
Beyond housing finance, residents were introduced to the bank’s Kiri Too Easy service, which simplifies account opening. Customers can initiate the process by dialling *225*11# on their mobile phones and following the prompts, reducing the need to visit a banking hall to get started.
The bank plans to extend HFB in Your Neighbourhood to other communities, continuing its efforts to engage directly with Ugandans, understand their financial needs and increase awareness of available banking and housing finance solutions.
Through these engagements, Housing Finance Bank seeks to make financing information more accessible and enable more people to explore practical pathways towards homeownership, property investment and business growth.
Residents and business owners can engage with Housing Finance Bank to learn more about the available solutions and identify options that align with their financial goals.
