UDB wins global sustainability award at Karlsruhe conference

October 1, 2025 in Companies, Financial Services by Editor

Patient lender Uganda Development Bank (UDB), has won the Outstanding Business Sustainability Achievement Award at the Karlsruhe Sustainable Finance Awards 2025, cementing its reputation as one of Africa’s leading sustainable financial institutions.

The award was presented to UDB Managing Director, Dr. Patricia Ojangole, on September 25 during the Global Sustainable Finance Conference (GSFC) in Karlsruhe, Germany. Now in its 15th edition, the conference is regarded as one of the world’s premier platforms for developing and sharing practical solutions in sustainable banking and finance.

In its citation, the awards committee described UDB as “a driving force for inclusive and sustainable growth in Uganda”, noting its critical role in financing priority sectors including agriculture, industry, infrastructure, and services. The panel praised the Bank’s ability to extend impact beyond financial support, citing its contribution to food security, manufacturing, and service sector growth.

The Outstanding Business Sustainability Achievement Award recognises financial institutions that have fully embedded sustainability across their operations while delivering measurable economic, social, and environmental impact. According to the organizers, the award requires year-round assessment of performance and commitment.

“UDB is honoured to be recognised with the Sustainable Finance Award 2025. This is a significant milestone for the Bank as it positions us as a key player in creating an inclusive, green, and sustainable Ugandan economy,” Dr. Ojangole said in her acceptance remarks. She added that the Bank remains committed to “mainstreaming holistic sustainability in its practices and inspiring other stakeholders to raise awareness of sustainable

L-R: Stephen Hamya, UDB Chief Internal Auditor; Arshad Rab, CEO European Organisation for Sustainable Development; Stephen Mubiru, Ambassador of Uganda to Germany; Dr. Patricia Ojangole, UDB Managing Director; and Dr. Frank Mentrup, Mayor of City of Karlsruhe, Germany during the conference in Germany

development.”

This marks another international milestone for the Bank. In 2024, Dr. Ojangole was named Sustainability Leader of the Year at Karlsruhe for the fourth consecutive time. UDB also secured the Sustainability Standards and Certification Initiative (SSCI) Version 2, Level 5 certification — the highest in the SSCI framework — making it the first sustainability-rated bank in Africa. The Bank is also consistently rated A+ by the Association of African Development Financial Institutions (AADFI) as a Best Performing Development Finance Institution.

The GSFC, established in 2009 in the wake of the global financial crisis, has evolved into a global hub for advancing true sustainable finance while combating greenwashing. Unlike many forums, it emphasizes practical, implementation-ready solutions over general discussions.

For UDB, the recognition not only validates its governance and sustainability frameworks but also strengthens its role as a continental leader in mobilizing capital for inclusive development and climate action.