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North Korea may be re-opening to tourists – are therumours true?

Known throughout the world as “The Hermit Kingdom”, travel in North Korea has been even more restricted than usual in the last few years, as it remains the only country in the world that is still closed due to the 2020 COVID crisis.

However, in recent months, there have been a few hints that the country may be reopening to leisure tourists.

In this article, we’ll examine them and see what it means for North Korea travel.

Why has North Korea been closed?

North Korea has been closed to tourists since 22nd January 2020, when the Coronavirus pandemic was spreading in neighbouring China. Even though the country gets minimal tourists compared to other countries in the world (in 2019, they capped their visitor numbers to 1,000 per day, the majority of whom came from China), the economic losses are thought to be $175,000,000 or more.

In fact, it’s thought that nobody in the country has been vaccinated against COVID-19 as of yet, with hints stating that the country may begin immunisation in 2022, but no news since then. The World Health Organisation warned that North Korea may be very hard hit from COVID-19 if the virus ever makes its way over the borders and people have not been vaccinated, as nobody in the country will have any immunity.

Is North Korea opening?

Despite all of this, there have been whispers in recent months about North Korea possibly opening.

In August 2023, North Korea’s airline, Air Koryo, resumed international flights to Beijing and Vladivostok in Russia.

In fact, since then, Kim Jong-Un and other high-level diplomats have taken trips abroad, another possible indicator that the country may be reopening for leisure travel. However, North Korean citizens living in Dandong (many have been stranded there since 2020) who work in trade on the border have claimed that they see no signs of the land border reopening.

But, that being said, many countries also reopened their air borders before their land borders during and just after COVID-19. So it could be a case of North Korea first opening Pyongyang Airport, potentially testing travellers for coronavirus and maybe even isolating them for a period (as was common in their neighbours, China and South Korea, throughout 2021 and 2022) before ultimately opening the land border.

Will North Korea be open to Americans?

North Korea has been closed to USA citizens since 2017; it was actually the USA who banned Americans from visiting, and this happened in response to the Otto Warmbier case. At the time, Americans were banned from visiting North Korea until 2024 – of course, this was pre-Covid, and it’s likely that this ban will remain when travel to North Korea opens.

While Americans were banned from visiting North Korea by the U.S. government, technically they could still enter North Korea. However, visiting is a crime in the U.S. and any Americans who have visited can face conviction, hefty fines and passport confiscation. Plus, tour companies will not take Americans due to these regulations.

What are trips to North Korea like?

All trips to North Korea before the pandemic were organised trips – and it’s almost certain that, when it does open, it will resume in the same way. Independent travel in North Korea is not possible.

Tour companies such as Lupine Travel offer trips to North Korea, which include accommodation, transport, food and activities. To visit the country, travellers must book with them independently, fly into Beijing and travel to North Korea from there, either by train or plane. 

Things to bear in mind if going to North Korea

Not only is travel in North Korea strictly regulated but there are a few things there that are completely illegal that are legalised in other countries.

One is gambling, which is outlawed entirely in North Korea (you won’t find any casinos or no deposit bonuses on offer in this country).

It’s also very important to not take photos of certain things (if in doubt, check with your tour guide) and to not take anything from hotels or anywhere else in the country (you may have heard of the tragic story of Otto Warmbier, who stole a propaganda poster, was imprisoned and returned back to the US in a vegetative state, only to die shortly after). 

Alcohol is permitted in North Korea, but you might not find a huge variety – you’ll likely only find beer and a couple of different types of liquor. However, it’s highly recommended that you do not get drunk, as this could cause you to act more recklessly.

Final thoughts

It’s thought that North Korea may open to travellers again relatively soon, and it’s likely that tourism will run the same way it did in 2019, with travel being permitted by tour groups only and Americans not allowed. However, exactly when it will reopen remains a mystery!

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Lukwago criticized for fighting SFC Kampala roads maintenance project

Kampala Lord Mayor Erias Lukwago has been trashed for his fights over the Special Forces Command’s efforts to fix potholes on the Kampala Capital City Roads

The Special Forces Command Construction Regiment secured a Shs2 billion deal from Kampala Capital City Authority (KCCA) to repair pothole-riddled roads in the central business district where Lukwago had suggested that the project can cost over 10 Billion shillings.

In his remarks, Lukwago expressed dissatisfaction with the progress and advised the government to reconsider the initiative. He does not believe that the military engineering unit has the expertise and the equipment needed for the job.

“SFC are hoodwinking Ugandans. They have no capacity to fix city roads. The situation is moving from bad to worse. What they are doing is a facade of sorts. They have no equipment, we do not even know how many engineers they have, ,” Erias Lukwago said.

He added, “We want the SFC out of Kampala. Lt. Kikomeko go back to the barracks; Muhoozi take back your men out of our city. The best you can do is to go handle our borders which are ravaged by insecurity. That is your area of expertise.”

Lukwago’s statements left the public furious and considered him as ‘Kampala’s enemy of progress’ since he fights every project of development in the capital. The cut of the project from 12.7 billion to 2Billion shillings only will save the taxpayer’s money from being misused.

A one Frank Mwesigye, said that since Lukwago, has raised complaints about the allocation of Shs2 billion designated for road maintenance in his own city then he should also account for  Shs 3.8b he illegally collected from the city abattoir from October 2011 to December 2012 before RCC (by then) Mr Mpimbaza Hashaka intervened.

Mwesigye said, “ As concerned citizens, we should plan for a peaceful march to Lukwago’s office and demand transparency and accountability of Shs 3.8b ASAP. Stay tuned for further updates.”

Aiden Wasajja commented, “The Lord Mayor has completely done nothing ever since he entered that office on 14th / Jan 2011. He has always been in fights. He is an enemy of progress. I wonder why he was against Hajji Hamis Kigundu when he started the renovations at Nakivubo.”

Don’t forget that Lord Mayor Lukwago wanted potholes repaired at 12.7 Billion. SFC is doing the repairs at 2 Billion. So we do understand when Lukwago starts mourning the loss of his “cut”.

Gen Muhoozi Kainerugaba, the president’s advisor on special operations accompanied by SFC engineers led by Lt Kikomeko Kigongo, the assistant project manager, and Kampala Capital City Authority (KCCA) Executive Director, Dorothy Kisaka on Tuesday afternoon toured the ongoing works in city.

In May, President Museveni directed KCCA and all other government agencies to work with the SFC Construction Regiment headed by Lt Col Eng. Robert Chabo to repair potholes and also carry out road maintenance in Kampala City following dissatisfaction by citizens over the sorry state of roads in Uganda’s capital.

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Court okays sale of Old Kampala mosque, William street mosque, six other properties

Female Moslims praying at old kampala mosque.

The Court of Appeal has dismissed Uganda Muslim Supreme Council’ (UMSC) petition which sought to halt the sale of eight properties of over 19 billion debt.

On June, 24, 2020, UMSC and Justus Kyabahwa entered into a sale agreement for the land comprising LRV 3693 Folio 12, Ranch 31A Land, Ssembabule. The land was allegedly occupied by squatters.

According to the agreement, both parties agreed that the squatters will be given 60 days to vacate the said land; however after three days, Kyabahwa and his agents attacked the squatters which prompted one of the squatters to drag UMSC to court over the loss of their properties.

It is averred that the land in questions had caveats thereon. The encumbrances were allegedly known by Kyabahwa. Three years later, Kyabahwa dragged UMSC to court seeking Shs 18.9 billion compensation for the said land. Court however agreed with the applicant. Following the court ruling, UMSC appealed the ruling.

Last week, Kyabahwa sought instructions from the Commercial Division of the High Court Registrar to sell eight properties. The properties a plot in Entebbe opposite victoria Mall, two square miles of land in Migyera, plot of land at Mbale City, one acre of land on Lubas road Jinja, One square mile at Buikwe,  Plot of land at Kyanja, plot 23-25 old Kampala and plot 30 on William street.

Upon seeking the advert, UMSC petitioned court seeking for halting the sale of its properties.

In his ruling delivered earlier today, Court of Appeal judge Christopher Gashirabake dismissed UMSC’s petition.

“The applicant has failed to prove that it has livelihood of success in the pending appeal or that it will suffer any damage or harm that cannot be atoned by an award of damages. The balance of convenience would be in not granting the application for stay of execution but to allow the party with judgment in hand to proceed with the execution process,” he ruled.

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UPDF, NORINCO commission joint research and innovation centre in Uganda

The Minister of Defence and Veteran Affairs, Hon. Vincent Bamulangaki Ssempjjja together with the Chinese Executive President of NORINCO (North Industries Corporation), Mr. Yang Xiaoqing have commissioned a Joint Research and Innovation Centre, Anfo production line for Kyoga Dynamics, and groundbreaking of a comprehensive unmanned aerial vehicle workshop in Nakasongola.

This follows the signing of a Cooperation Agreement between the Ministry of Defence and Veteran Affairs and NORINCO.

Hon. Ssempijja welcomed NORINCO’s willingness to share knowledge in research and innovation to develop the defence capacity of Uganda.

The Minister commended the partnership between the Ministry of Defence/UPDF and Norinco over the years having been vital in the establishment of Kyoga Dynamics, a Joint Venture between National Enterprise Corporation and NORINCO.

Mr. Yang Xiaoqing in his remarks said that these events marked a milestone in the history of the cooperation between Uganda and Norinco.

“In six months, a workshop dedicated to the final assembly, testing, maintenance and training of UAVs will rise up here and will be a turning point for Uganda’s take-off of the UAV industry, a new important field for defence modernization,” Mr. Yang said.

He added that this cooperation will effectively enhance Uganda’s military capabilities, create social values, drive economic development and elevate Uganda’s International influence.

The Chief of Defence Forces, General Wilson Mbadi in his remarks said that partnership with Norinco in the expansion of the facilities is a demonstration of the ever-growing relationship between the Republic of Uganda and the People of the Republic of China.

“As two cooperative sides, we have made major breakthroughs in the theme of developing and modernizing our forces to create internal effectiveness and efficiency that has well been tested internally and in the region,” Gen Mbadi said.

He commended Norinco for their commitment and speed towards developing and setting up the facilities which will go a long way in creating capacity for the UPDF.

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Museveni commends local scientists for enhancing Uganda’s manufacturing capacity in health sector

While commissioning the first-ever diagnostic test kit manufacturing plant in the Great Lakes region, President Museveni commended the local scientists and the manufacturing plant proprietors for enhancing Uganda’s local manufacturing capacity in the health sector.

Located in Ntinda, Nakawa Division, Kampala, the state of the art plant- Microhaem Scientifics (MHS) will support Uganda and the regional health sectors to develop local manufacturing capacity towards improving and sustaining the medical supply chain needs by producing high-quality and affordable malaria and HIV diagnostic testing kits in the country.

“I want to congratulate the Ugandan scientists for really waking up. The human race was not very scientific, it was only in 1865 when a man called Louis Pasteur found out that there are other organs which live around us, and we cannot see them with our naked eyes. This was not long ago when Louis Pasteur was able to see bacteria which cause fermentation in milk or something else. Before, the whole world didn’t know that there were other organisms around us,” he said.

“It is really not good for people who say they are scientists to fail to understand and use this scientific knowledge to solve problems. For instance, how does quinine attack the malaria you are talking about, how does it do it? This is just biochemistry or molecular biology so how would the scientists not know this, and you say you are a scientist? In the army we were able to understand explosions by just using the properties of different compounds,” he added.

President Museveni further encouraged the local scientists to partner with their colleagues around the world so that they can develop the science sector in Uganda more.

“If you wake up it will be easy for you to find partners in the world because those partners are there; the ones who woke up earlier than you. I thank scientists from the US and China for working with you.”

The President noted that the partnerships are possible because Uganda has got a very powerful resource which is the market.

“The partnerships are good. Recently, I visited Nakasero Hospital, and I found Dr. Mbonye there and he told me that they partnered with a Dutch company to expand the hospital. This is possible because you already have a very powerful resource; that is the market. Market is part of the business, somebody who manufactures, if he cannot sell, then that is not business,” he said.

“So, you Africans who are sleeping, you have a resource which you don’t know. You have got 46 million people here; these are all consumers of drugs, and other products and services. Then you have East Africa with more than 300 million people now, you also have the continental market of 1.5 billion people. In the next 30 years, the African population will be 2.5 billion. Until recently, Africa has been under populated; India and China had a bigger population, each, than Africa and yet Africa is 12 times bigger than India in size and four times bigger than China yet China and India had more people than Africa but now the killer diseases which had been killing Africans have been contained and for the first time in history, Africa will have what we call optimal population.”

He also assured the local scientists that the government will continue injecting more funds into their projects to ensure that they are a success.

“There are these funds which we have put in UDB, and we shall always put in more which are meant to support that transformation from a superstition-controlled society to a science-led society. That money is just for the beginning we shall inject more,” he assured.

“If you coordinate and you approach partners, they will work with you because you have one element of business which is market and other factors like cheaper Labour and raw materials. Therefore, I really salute you young people for waking up and getting out of the slavery of dependence because that has been the problem.”

On the issue of off take, the President assured the manufacturing plant that it is not a big issue, explaining that the Ministry of Health had already told them that they shall buy the minimum quantity which they need to enable them to get partners.

“Up to now we have not made an HIV vaccine and why? It is because HIV became mainly an African problem so other people were not bothering so much about it but now our people have spent more time and they are coming up with the vaccine.”

The Prime Minister, Rt Hon. Robinah Nabbanja thanked President Museveni for his visionary leadership that has seen Uganda’s health sector develop.

“When we met you last year, the proprietors of this facility told you that they were going to produce two manufacturing plants; one for diagnostics and another for vaccines. I’m happy that we are launching the one for diagnostics today. The fourth fully automated diagnostic manufacturing plant, the first of its kind in Uganda and Sub-Saharan Africa. We are lucky that we are reaching this milestone in the course of our Health sector as a country,” she said.

The Minister of Health, Dr. Jane Ruth Aceng noted that for years, Uganda has been facing a challenge of unsustainable importation of the required diagnostics and medicines for diseases like Malaria, TB, Sleeping sickness, ebola, among others.  She noted that local manufacturing is the only solution to this challenge.

“Like Your Excellency you always say we must benefit from our diseases. Unfortunately, for a very long time, Uganda has been dependent on the importation of drugs, medical equipment and other supplies from overseas. Your Excellency, it was about just 15 years ago when Quality Chemicals Limited began to manufacture malaria and HIV drugs locally and it is now manufacturing more drugs including for hepatitis B,” she said.

“We are therefore very excited that we are now expanding the local manufacturing capacity to include laboratory reagents and other diagnostic devices. I congratulate Microhaem Group of Companies for leading in the local diagnostic manufacturing space. Your Excellency, this investment is worthwhile because Uganda is at the heart of 8 East African countries including Somalia with a combined population of more than 300 million people. We also have market access to over 1.4 billion people of the African Continent through the African Continental Free Trade Area,” the Minister added.

Dr. Cedric Akwesigye, the Managing Director and proprietor of Microhaem Scientifics informed the President that the huge facility has been equipped with state-of-the-art technology to produce a range of both Molecular and Rapid Diagnostic Test (RDT) kits, HIV Viral load test kits, HIV Early Infant Diagnosis (EID) test kits, and HIV Drug Monitoring kits.

Microhaem Scientifics portfolio also includes HIV RDT kits, HIV Self-Test kits, Malaria RDT kits, and Hepatitis B kits.

“Your Excellency, when we met you in 2021 we promised you to make a manufacturing plant for Uganda to serve this nation. Sir, when I came back to give a progress report in October 2022, I promised you that I was adding vaccines on our agenda. Your Excellency, I’m delighted that today we are launching one of the promises that we made to you,” he said.

“Your Excellency, this manufacturing plant is a fourth generation fully automated manufacturing facility, the first of its kind in Sub Saharan Africa. In Africa we have five companies that have ventured into diagnostics. They are in Morocco, Senegal, Ghana, South Africa and now Uganda.”

Dr. Akwesigye also assured the President that the plant is ready for orders and to supply the products.

“The manufacturing plant has been constructed in accordance with the World Health Organization’s Standards, ISO 13485 and cGMP, and has been inspected and supported by the Uganda National Drug Authority (NDA).”

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Opposition MPs return to parliament after one month long boycott

Opposition legislators protest on the stairs of parliament.

The Opposition legislators have returned to parliament following one a month-long boycott.

Last month, the opposition legislators led by Nyendo-Mukungwe MP Mathias Mpuuga tasked the government to account for missing persons and the continuous detention of their supporters without trial.

Following the government’s delay to account for the 18 missing opposition supporters, the MPs embarked on the campaign to boycott plenary sittings. The missing supporters were allegedly nabbed during and after the 2021 presidential campaigns.

The  missing people include; Hassan Mubiru, Martin Lukwago, Peter Kirya, John Ddamulira, Dennis Zzimula, Michael Semuddu, Muhammada Kanatta, John Bosco Kibalama, Moses Mbabazi, Yuda Ssempijja, Musisi Mboowa, Mustafa Luwemba , Isma Ssesaazi, Godfrey Kisembo, Shafik Wangolo, Vincent Nalumoso, George Kasumba and Joseph Baguma.

Last week, the Speaker Anita Among threatened to throw the boycotting MPs out of the August house if they miss 15 parliament sessions. She asked the chairpersons of the various committees to block them from attending sittings.

Yesterday, the speaker bowed to the pressure directed by the government to present a statement on the missing persons tomorrow. The Deputy Prime Minister Rukia Nakadama confirmed that a statement will be presented today as directed.

Earlier today,  the opposition attempted to suspend the sitting for 15 minutes, awaiting the arrival of State Minister for Internal Affairs Gen David Muhoozi. Speaker however asked them to calm down and wait for the minister.

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Finance Ministry clears enactments to Alcohol Control Bill 2023

Secretary to Treasury Ramathan Ggoobi has cleared Tororo Woman MP Sarah Opendi to proceed with the enactments of the Alcoholic Drinks Control Bill 2023, after he issued a certificate of financial implication, indicating that her bill will not impose a charge on the consolidated fund.

This was revealed by Ms Opendi on Tuesday, 28 November 2023, while appearing before Parliament’s Health Committee that has started scrutinising the Alcoholic Drinks Control Bill 2023.

In the Bill, Ms Opendi is proposing a jail term of 10 years or fine of Shs20 Million for anyone found selling alcoholic drinks before 5pm and beyond 10pm on working days.

“Just yesterday, I saw the letter from the Secretary to Treasury, in response to our request for the certificate for financial implication and he did respond, but this has been overtaken by events, because we had to rely on our Rules that give the MP 60 days. And so, when he responds now to give me a certificate, with comments, it is beyond the 60 days rule. But the certificate was issued and it clearly shows that there is no charge on the consolidated fund,” she said.

Opendi also defended her proposal to impose a time limit within which alcohol should be sold in bars, saying the move is intended to reduce noise pollution because some bars are located in residential areas and whoever wants to drink beyond the legal time, they should drink in their homes.

“If somebody buys (alcohol) and goes to drink from home, we have no problem with that, for us we shall not control people’s homes, you are actually free. That is why we said supermarkets can sell alcohol from 10am to 10Pm, so if one wants to drink, you can go and buy from the supermarket, go and drink from home. Why do people fear drinking from home?” she wondered.

Ms Opendi also attacked fellow MPs who use alcohol as a campaign commodity, saying their actions are drowning their voters in poverty and it was about time they had an honest conversation about the impact alcohol abuse is having on the lives of Ugandans.

She said: “You are happy because you are MP to buy alcohol for people to just get drunk, you are actually making people drown in poverty, just because you want to remain as MP. We must be serious and tell people the truth, people must be able to work, be productive so that they can be able to take care of themselves and their families and we shall have peace and prosperity in this country.”

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Experts urge entrepreneurs to tap into digital economy for growth and Innovation

In a bid to accelerate business growth and foster solutions for last-mile communities, experts are advising entrepreneurs to tap into the burgeoning opportunities within the digital economy.

This call was made during the Uganda Innovation Week, a collaborative effort by Startup Uganda in partnership with Innovation Village, Stanbic Business Incubator held under the theme “Adapt or Be Left Behind: The Digital Economy & the Opportunities for The Ugandan Entrepreneur.

Speaking at the event Aminah Zawadde, the Permanent Secretary at the Ministry of ICT and National Guidance, expressed the government’s commitment to creating a digitally driven economy, achieving universal goals of inclusion, sustainable development, economic progress, and poverty eradication through digital transformation. “The focus is on pushing the digitalization agenda for economic recovery, job creation for young people, and realizing Vision 2024” she added.

Zawadde said, “Currently, Uganda is actively developing ICT infrastructure and connectivity, with over 50% connectivity already achieved. Efforts include promoting digital services for both government and the private sector, enhancing policies/tools for improved cybersecurity and privacy, and fostering digital skills. These initiatives aim to promote ICT adoption in various sectors, enhance the country’s competitiveness, and support Uganda’s development goals.”

Arthur Mukembo, Future Lab Studio Lead at Innovation Village urged entrepreneurs to aggressively embrace shared digital programs, platforms, and initiatives to accelerate business growth and enhance efficiency.

Mukembo said, “In partnership with Mastercard Foundation, we are running a Digital Economy Program, an initiative intended to provide a blend of digital infrastructure, tools, skilling, and channels to support those innovating bring opportunities in the burgeoning Digital Economy closer to young people, women, smallholder farmers, small businesses, among others, across hard-to-reach communities in Uganda while unlocking opportunities that improve lives and livelihoods.

 He added, “In an era dominated by digital innovations, the ability for entrepreneurs to adapt to digital transformation is not merely a choice but a necessity for those aspiring to thrive in the competitive global market. Through the Digital Economy Program, we are dedicated to delivering digital solutions to local entrepreneurs actively engaged in building innovative and sustainable solutions, ultimately bringing digital services closer to remote communities”

While addressing the capital access challenges, Tony Otoa, the Chief Executive Officer of Stanbic Business Incubator emphasized the importance of making their business attractive to potential investors, stressing that a compelling value proposition, solid financial management, and a clear growth trajectory are key factors that can significantly bolster the chances of securing vital investment support.

Further noting, Mr. Badru Ntege encouraged entrepreneurs to innovate beyond Kampala and leverage the Parish Development Model to create new solutions, additional value and maximize the untapped opportunities outside the capital.

As we strive towards establishing a robust entrepreneurial ecosystem, the Innovation Village is dedicated to nurturing technology-driven solutions that address social challenges and stimulate economic growth. In line with our dedication to promoting the digital economy and empowering local innovators, we are thrilled to highlight the opportunities embedded within our Digital Economy Programs that entrepreneurs can leverage.  

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Housing Finance Bank Donates Waste Bins to Gayaza High School as Part of Sustainability Drive

Peace Ayebazibwe, Executive Director at Housing Finance Bank addresses Gayaza High School students as Robinah Kizito, the Head Teacher observes
Peace Ayebazibwe, Executive Director at Housing Finance Bank addresses Gayaza High School students as Robinah Kizito, the Head Teacher observes

In a demonstration of the Bank’s responsibility towards achieving a green and sustainable Uganda, Housing Finance Bank donated ten waste-bins to Gayaza High School to support responsible solid and plastic waste management practices and foster a culture of sustainability among the school’s students and staff.

The bins, handed over by the Executive Director, Ms. Peace Ayebazibwe, and the Head of Business and Institutional Banking, Ms. Angela Ndawula to the Head Teacher of Gayaza High School, Ms. Robinah Kizito, marked a proactive step by the Bank on the back of its recent receipt of the Certificate of Acceptance to the Sustainability Standards and Certification Initiative (SSCI) during the 10th Global Sustainable Finance Conference recently held in Karlsruhe, Germany.

The donation, following a similar hand-over to Hoima City earlier this year, comes at a time when the National Environmental Management Authority (NEMA) highlights that plastic makes up the majority of the over 600 tonnes produced in the country every day. Unfortunately, only 40% of this waste is collected and disposed of properly, with the remaining 60% finding its way into the environment, leading to pollution and health issues.

Expressing gratitude to Gayaza School for its pivotal role in nurturing future leaders, Ms. Peace Ayebazibwe affirmed the bank’s unwavering commitment to supporting the institution in its noble pursuits. She emphasized the importance of financial discipline and encouraged students to embrace a culture of fiscal responsibility.

Robinah Kizito, Head Teacher – Gayaza High School, Peace Ayebazibwe, Executive Director – Housing Finance Bank, and Angela Ndawula, Head of Business and Institutional Banking – Housing Finance Bank, with Gayaza High School students during the handover.

As part of Housing Finance Bank’s sustainability agenda, we aim to support communities we serve by enabling home ownership and financial independence. However, we shall only attain this by taking care of our environment, young people, and local businesses to ensure a sustainable future. And these bins are a sign of our commitment to the environmental cause that will keep this institution clean and free of plastic. I encourage you to embrace recycling so that these non-decomposables can be used in limitless innovative projects that create cashflows for the school.”

During her address, Angela Ndawula, the Head of Business and Institutional Banking at Housing Finance Bank, not only encouraged students to stay focused on their studies but also wished students success in their upcoming examinations. Angela’s remarks aimed to inspire confidence, emphasizing the transformative power of education, and sharing insights on resilience and perseverance.

Gayaza High School, renowned for its commitment to excellence in education, welcomed this collaborative effort with Housing Finance Bank with the Head Teacher, Ms. Robinah Kizito, sincerely appreciating and recognising Housing Finance Bank for its investment not only in profitability but also in impacting the community’s betterment.

As Housing Finance Bank continues leading efforts towards a more sustainable future, engaging in partnerships that prioritize environmental conservation and community development advances its purpose of enabling sustainable home ownership and financial independence and contributes to the achievement of the 2030 Sustainable Development Goals specifically – good health and well-being (Goal 3), clean water and sanitation(Goal 6), and sustainable cities and communities (Goal 11).

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Housing Finance Bank Joins FITSPA In Bid to Foster Innovation and Collaboration in Financial Services Sector

Micheal Mugabi, Managing Director - Housing Finance Bank
Micheal Mugabi, Managing Director - Housing Finance Bank

In a pivotal step towards fostering innovation and collaboration within Uganda’s financial services sector, Housing Finance Bank proudly announces its membership to the Financial Technologies Services Providers’ Association (FITSPA), an independent, nonprofit organisation representing Uganda’s local fintech community and global fintech institutions operating in the country.

This strategic move positions Housing Finance Bank to engage with over 200 industry members, embarking on a journey to co-create cutting-edge solutions that leverage technology to deepen access to banking services at a time when over 80% of customer transactions with the bank are occurring through mobile and online banking platforms.

Additionally, Housing Finance Bank’s decision to join FITSPA comes at a time when financial technology continues to rapidly shape the development and delivery of financial solutions on the back of advancements in mobile and internet penetration that have increased the adoption of digital payments and online financial services while enhancing business efficiency and effectiveness.

Micheal Mugabi, Managing Director at Housing Finance Bank, expressed the motivation behind this decision, stating, “As Housing Finance Bank, our decision to join FITSPA signifies a commitment to embracing a future where innovation, collaboration, and cutting-edge technology converge to redefine the landscape of financial services that we operate in. This membership provides a collaborative platform to incubate, refine, and implement technologies that exceed our valued customers’ expectations and lead them closer to sustainable home ownership and financial independence.”

FITSPA’s collaborative ecosystem now becomes a dynamic playground for Housing Finance Bank to explore, refine, and implement technologies that align with its mandate as well as that of the Government of Uganda through catalysing the development of Uganda’s financial services industry that accelerates inclusive socio-economic growth towards attaining the desired middle-income status.

This move places Housing Finance Bank at the forefront of the fintech revolution in Uganda, paving the way for a future where technological innovation and collaborative spirit redefine the banking experience for customers in line with its strategic goal of enhancing customer satisfaction to 90% by 2027.

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