The construction of a 273-kilometer section of Uganda’s Standard Gauge Railway (SGR) is projected to inject Shs4.3 trillion into the national economy, with the government prioritizing local content in the project.

The SGR, which will eventually span a 1,724-kilometer network connecting Uganda to its East African neighbors, has a total project cost of 2.7 billion euros (about Shs11 trillion ). However, 40% of the total cost, or Shs4.3 trillion, will remain in the local economy through local sourcing of labor and materials, according to Dr. Richard Sendi, SGR’s head of planning and strategy.

“According to the contract we signed with Yapi Merkezi, the Turkish construction firm tasked with building the SGR, 40% of the inputs as well as labor will be sourced locally,” Sendi said yesterday at the Uganda Media Centre. He added that 90% of all labor, including 50% of managerial positions, will be filled by Ugandans.

Officials are actively working to ensure the participation of local businesses. Eng. Perez Wamburu, the SGR project coordinator, said a National Content Symposium is scheduled for this Friday to highlight opportunities for local suppliers of materials like cement, steel, and aggregates, as well as providers of services such as logistics, security, and healthcare.

Wamburu said the national content strategy is also designed to promote skills development through training, educational partnerships, and technology transfer.

The project is moving forward, with preliminary construction work already underway. Wamburu said that 80% of the compensation for project-affected people has been completed, providing the contractor with the necessary right of way. He noted that land acquisition has reached Buikwe, the ninth of 12 districts along the corridor.

“Valuation reports for Mukono, Wakiso and Kampala are currently with the chief government valuer awaiting approval,” Wamburu said, adding that compensation would follow shortly. Construction is expected to begin in March 2026.

The SGR is expected to significantly reduce transport costs and travel times. Officials project that the cost per tonne-kilometer will drop from $0.155 to $0.05, and the travel time from Mombasa to Kampala will be reduced from 14 days to just one.

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Kampala, Uganda –August 26, 2025 – Housing Finance Bank (HFB) and Pearl Marina Estates have today signed a Memorandum of Understanding (MOU) that sets the stage for a transformative partnership aimed at redefining the real estate and housing finance experience for Ugandans.

The strategic alliance will enable Housing Finance Bank to provide tailored mortgage financing solutions that make homeownership more accessible and affordable, while leveraging Pearl Marina Estates’ innovative approach to property development. The partnership is designed to unlock new opportunities in Uganda’s housing sector by combining financial expertise with cutting-edge real estate solutions.

Speaking at the MOU signing ceremony, Michael Mugabi, the Managing Director of Housing Finance Bank, said: “At Housing Finance Bank, our purpose is financing a sustainable future for all. This partnership with Pearl Marina Estates aligns seamlessly with that vision by enabling sustainable homeownership and supporting real estate development across the country. Together, we are building a resilient ecosystem of professional real estate services, ensuring that customers receive comprehensive support from identifying the right property to structuring deals and accessing affordable financing.”

The MOU establishes a collaborative framework for innovation in housing finance, driven by data insights, customer-centric solutions, and operational excellence. It reflects both organizations’ commitment to driving sector-wide transformation while delivering long-term value to clients and communities.

Pearl Marina Estates welcomed the collaboration, commending Housing Finance Bank for its leadership in advancing sustainable housing finance. The two organizations pledged to work closely to ensure seamless service delivery and maximize the benefits of this partnership.

At the same event, John Baptist Kaweesi, Head Mortgages and Consumer Banking at Housing Finance Bank, remarked: “Uganda’s housing deficit, currently estimated at about 3 million units, presents both a challenge and an exciting opportunity. Through this partnership, we are positioned to bridge this gap by making mortgages more accessible and enabling more Ugandans to realize their dream of homeownership.”

“This is more than just a financial arrangement; it is a bold step towards shaping the future of real estate in Uganda,” Mr. Piyush Dixit the General Manager at Pearl Marina said. “We believe that by combining our strengths, we can accelerate growth, unlock synergies, and deliver meaningful impact to aspiring homeowners.”

The partnership marks a significant milestone in Uganda’s housing finance landscape and underscores the critical role of collaboration in driving innovation and economic growth. Both institutions expressed confidence that the MOU will create lasting value, not only for their customers but also for the broader community.

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MTN Uganda has today launched its inaugural Sustainability Report for 2024, marking a significant milestone in the company’s evolution from a telecommunications provider to a catalyst for sustainable national development.

The report contains achievements in environmental stewardship, digital and financial inclusion, building sustainable societies, and economic value creation, while also outlining MTN Uganda’s long-term ambition for 2030.

Speaking at the launch, Board Chairman Charles Mbire emphasised that sustainability lies at the heart of MTN Uganda’s long-term vision.

“This report is more than a set of numbers. It is a reflection of the lives we touch, the communities we uplift, and the future we are helping to build,” Mbire said.

He added, “As we grow, we remain committed to doing so responsibly; creating shared value for our stakeholders and for Uganda.”

The report highlights several milestones achieved in 2024. On environmental stewardship, renewable energy solutions were deployed across 538 base station sites, resulting in a 58.4% reduction in Scope 1 and 2 emissions, far exceeding the year’s targets. This transition contributes to cleaner air, healthier communities, and alignment with Uganda’s climate goals.

In digital and financial inclusion, MTN expanded its 4G coverage to 87.9% and grew 5G coverage from 0.3% to 15.3%. The fibre network increased from 12,072 kilometres in 2023 to 17,774 kilometres in 2024, while data subscribers rose from 8.2 million to 10 million. Through MTN MoMo, Shs158.6 billion in transactions were processed, serving 13.8 million subscribers, and Shs1.5 trillion in loans were extended to households and businesses, supporting access to credit and economic participation.

MTN Uganda’s commitment to building sustainable societies was reflected in its Shs4.6 billion investment in community projects. This is up from Shs4.4billion invested in the previous year. The MTN Foundation supported over 16,000 learners through 35 ICT Resource Centres, trained nearly 4,800 young people in digital literacy, and expanded outreach through the Internet Bus initiative. Workforce diversity also improved, with women representing 51% of employees and 38% of senior management positions.

Economic value creation was another key achievement. Local supplier spending increased to Shs980.2 billion, with 72% retained within Uganda, while spending with women-owned businesses nearly doubled to Shs73.6 billion. The company contributed Shs1.27 trillion in taxes and supported over 300,000 indirect jobs nationwide, translating business growth into tangible societal benefits.

CEO Sylvia Mulinge described the report as a reflection of MTN Uganda’s purpose-driven business model.

“True success is measured not only in financial performance but in the lives we touch, the environment we protect, and the opportunities we create for the next generation,” she said.

She added, “Our growth matters only if it creates meaningful benefits for the communities we serve. That is why sustainability is at the heart of everything we do.”

General Manager Corporate Services, Enid Edroma, added that the report demonstrates both progress and areas for improvement.

“We are proud of the milestones achieved, from expanding renewable energy to empowering thousands of youth with digital skills,” Edroma said.

He noted, “But sustainability is a continuous journey. This report helps us measure progress and hold ourselves accountable as we strive to deepen inclusion, reduce emissions further, and expand opportunities for all Ugandans.”

State Minister for ICT and National Guidance, Godfrey Baluku Kabyanga, who presided as the chief guest, congratulated MTN Uganda on the milestone.

He commended the company for producing a report that, in his words, “goes beyond numbers, setting a standard of accountability and transparency that government would like to see across all sectors. It provides a mirror, showing where progress has been made and where more effort is still needed.”

MTN Uganda has reaffirmed its commitment to strengthening environmental, social and governance standards, integrating sustainability metrics into executive performance, and adopting international reporting frameworks such as IFRS S1 and S2.

By 2030, the company aims to achieve integrated sustainability excellence while driving progress in line with Uganda’s Vision 2040 and the United Nations Sustainable Development Goals.

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