UDB opens Hoima branch to deepen access to development finance in Bunyoro

November 26, 2025 in Companies, Financial Services by Editor

L-R: Deputy Mayor Hoima City, Sylvia Nalumaga; Hoima Resident City Commissioner, Badru Mugabi; UDB Managing Director, Dr. Patrica Ojangole; Bunyoro Kingdom Prime Minister, Andrew Kirungi Byakutaga; and LCV Chairman Kikuube, Peter Banura cut a ribbon during the ceremonial launch of UDB’s Hoima Regional Office on Wednesday

Uganda Development Bank has opened a new regional branch in Hoima to extend long-term development financing to the Bunyoro and Albertine regions, aiming to boost investment, job creation and inclusive growth across agriculture, industry and services.

Patient lender Uganda Development Bank (UDB) has expanded its physical footprint with the opening of a regional branch in Hoima City, a move aimed at improving access to long-term development financing across the mid-western and Albertine regions.

The new office, located on Kyaruhanga Road, will serve as a hub for districts including Hoima, Buliisa, Kikuube, Masindi, Kagadi, Kakumiro, Kibaale and Kiryandongo. It becomes UDB’s third operational location after Kampala and Gulu, marking a broader shift toward decentralisation as the Bank rolls out additional regional centres in Mbale, Arua and Mbarara.

At the launch, UDB Managing Director Dr. Patricia Ojangole said the branch strengthens the Bank’s ability to support investment at the local level and close long-standing access gaps in development finance.

“Establishing this regional presence reinforces our mandate as Uganda’s national Development Finance Institution,” she said. “Extending our footprint to the Bunyoro sub-region demonstrates our commitment to narrowing access gaps and bringing essential financial services closer to the communities that need them.”

The Bank expects the Hoima office to become a key link between entrepreneurs, emerging industries and the financial and advisory support required to scale. Priority sectors include agriculture, agro-industrialisation, manufacturing, extractives, health, tourism, education, technology and infrastructure—areas aligned with national development targets under NDP IV.

Officiating at the launch, State Minister for Bunyoro Affairs, Hon. Jeniffer Namuyangu, said the branch comes at a time when the region is preparing for significant economic activity driven by agriculture, oil and gas developments, and tourism.

“This region is rich in potential and deserves direct access to the financing and advisory services needed to harness it,” she said. “By bringing services closer to the people, UDB is reducing the cost and distance barriers faced by businesses while accelerating investment, job creation and value addition within the sub-region.”

UDB has so far approved UGX 75 billion in new loans for five enterprises in Bunyoro in 2025. These projects are projected to generate more than 2,300 jobs, UGX 421.7 billion in additional output, UGX 406 billion in foreign exchange earnings, and UGX 6.58 billion in tax contributions.

The Bank says strengthening its regional presence will help accelerate the delivery of development finance where it is most needed, especially in areas emerging as new centres of production and trade.