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Tag: Housing Finance Bank

  • How it went down at the annual Bankers’ Sports Gala

    How it went down at the annual Bankers’ Sports Gala

    Kampala: The Uganda Institute of Banking and Financial Services (UIBFS), in partnership with the Uganda Bankers Association (UBA), is hosting the 2025 Annual Bankers’ Sports Gala under the theme “Beyond the Finish Line”.

    The sports activities started with the 30-day fitness challenge on 05th September 2025, at the UBA offices. This challenge involves participants walking 5,000 steps daily for 30 days to earn a medal and points for their bank.

    This year we have a total of 1885 participants from 29 member banks in the fitness challenge. The fitness challenge officially came to an end on Sunday, 05th October 2025, with 734 participants successfully completing the challenge.

    After the fitness challenge, the next activity was the CEO Golf Challenge, which took place at the Uganda Golf Club on the 25th of September.

    The winning title was awarded to Bank of Uganda, which scored 138 points in total. Equity Bank came in as a close second with a total of 134 points, and NCBA Bank came in third position with 120 points. The overall winner in the Lady’s category this year was Ms.

    Patience Musiime of Namulonge Golf Club from Bank of Uganda, scoring 34 points, whereas the overall winner in the Men’s category this year is Mr. Samuel Bulenzi of Uganda Golf Club from Stanbic Bank, scoring 42 points.

    After the Golf Challenge, the gala continued with the virtual and physical quiz together with the swimming challenge, which took place on the 27th of September (virtual quiz) and the 5th of October at Hotel Africana.

    During the virtual quiz, the following banks made it to the quarter finals: Bank of Baroda vs Diamond Trust Bank

    dfcu Bank vs Equity Bank

    Post Bank vs Bank of Uganda

    GT Bank vs Finance Trust Bank

    After answering a variety of questions, from the longest river in the world to the first rocket to land on the moon and the first superhero, dfcu’s royal blues brought the trophy home, with the 2nd runners-up being Finance Trust Bank and Bank of Uganda, taking up the 3rd position.

    The swimming challenge, on the other hand, involved three races, namely, the men’s and women’s individual races and the mixed relay races. Bankers swim all three races to the finish line, and the fastest swimmers bring the trophy home. This year DFCU’s royal blues took the winning cup, followed by ECO Bank, and in third place, Bank of Uganda.The games then continued to the indoor activities, which were held on the 19th of October at the Lugogo Sports Arena.

    The games being played included table tennis, badminton, darts, pool table, chess, netball, and volleyball. All 29 institutions participated in the banks to earn points for their banks, and below is the breakdown of which banks earned the top three positions for each game:

    Table Tennis:

    Finance Trust Bank

    Bank of Baroda

    Centenary Bank

    Badminton

    Bank of Uganda

    Centenary Bank

    Bank of Baroda

    Darts

    Bank of Uganda

    Housing Finance Bank

    Bank of Africa

    Pool Table

    Diamond Trust Bank

    ABSA Bank

    Housing Finance Bank

    CHESS

    Bank of Uganda

    ABSA Bank

    KCB

    Netball 

    Diamond Trust Bank

    Pride Bank

    Centenary Bank

    Volleyball

    Diamond Trust Bank

    Equity Bank

    NCBA

    Finally, on the 19th of October 2025, the bankers come together for the final showdown at Kyambogo University to play the last leg of the 2025 Annual Bankers’ Sports Gala—the outdoor games. The outdoor games involve a variety of sports activities such as basketball, tug-of-war, football, sprints and relay races, sack races, the CEO Walk race, and lastly, bottle balancing.

    During the outdoor games, the deputy governor of the Bank of Uganda, Professor Nuwagaba Augustus, graced us with his presence. He shared his remarks, stating that such games are important, as they remind us that it is important to look after ourselves as we serve the country in the banking sector. He expressed his gratitude for UIBFS and the Uganda Bankers’ Association for planning and executing the sports gala every year. Our Board Chair, Mr. Michael K. Mugabi, also shared his remarks during the outdoor games. He encouraged bankers to let loose and have a good time as they take part in the day’s activities. He also stated that just like the theme of the year dictates, the bankers should not stop at exercising today but should be encouraged to continue watching their physical health to serve the industry better.

    Mrs. Masadde Goretti, the CEO of UIBFS, also thanked the participants of all the 29 banking institutions that participated in this year’s Annual Bankers’ Sports Gala. She expressed her gratitude to the Beyond Sports Organisation for creating a successful and impactful sports gala this year.

    She also thanked the Uganda Bankers’ Association for their support in the organisation of the sports gala and encouraged the bankers to continue to practice intentional physical fitness as suggested by the theme: Beyond the Finish Line

    The results of the games played are as follows: Basketball

    I&M Bank

    Centenary Bank

    Stanbic Bank

    Tug Of War

    Centenary Bank

    Equity Bank

    FINCA Bank

    Football

    Housing Finance Bank

    Diamond Trust Bank

    Post Bank.

    The winners of the 2025 Annual Bankers’ Sports Gala are:

    Diamond Trust Bank with 855 points

    Bank of Uganda with 795 points

    Equity Bank with 705 points

    The participating institutions include Bank of Uganda, ABC Capital Bank, ABSA Bank, Bank of Baroda, Cairo Bank, Centenary Bank, Citi Bank, Diamond Trust Bank, dfcu Bank, Equity Bank, Ecobank, Exim Bank, Finance Trust Bank, Financial Intelligence Authority, FINCA MDI, GT Bank, Housing Finance Bank, I&M Bank, KCB Bank, NCBA, Postbank, Tropical Bank, Standard Chartered Bank, Stanbic Bank, United Bank for Africa, Uganda Development Bank, and UGAFODE MDI.

  • Housing Finance Bank launches Double-Double Unsecured Salary Loan Campaign, offers record repayment period of 84 months

    Kampala: For the second consecutive year, Housing Finance Bank (HFB), the leading mortgage provider and one of the fastest growing financial institutions in Uganda, has launched an unsecured salary loan campaign in a bid to enable customers access funds for their personal financial needs at a favorable interest rate and record repayment period.

    The campaign that will run for 90 days will enable customers access up to UGX300,000,000 in just 48 hours at an interest rate of 16.5% and an extended period of 84 months.

     

    John Baptist Kaweesi, the Head of Mortgage and Consumer Banking addresses guests during the launch of the Double-Double Unsecured Salary Loan Campaign

    It comes at a time when the Government of Uganda is opening up the economy and enterprising Ugandans are preparing to revamp or establish businesses after the long lockdown period.

    Commenting about the campaign, Mr. Patrick Oyuru, the Head Marketing and Communications at Housing Finance Bank noted with pride that Housing Finance Bank is the first and only institution in Uganda to offer a repayment period of 84 months for a salary loan.

    “We know that the past two years have posed significant challenges for Ugandans across the country due to the Covid-19 pandemic and the subsequent lockdowns. Access to adequate financing is a key component of economic recovery and we are excited to be the provider of this finance – up to 300 million shillings – at a favorable interest rate and extended repayment period,” he said.

     

    Patrick Oyuru, Head Marketing and Communications joins John Baptist Kaweesi, the Head of Mortgage and Consumer Banking to launch the Double-Double Unsecured Salary Loan Campaign

    “This campaign also offers zero arrangement fees for those Ugandans who are transferring their loans from other banks to Housing Finance Bank. I implore you all to come and take advantage of these unprecedented offers and take the necessary steps towards achieving your dreams,” he added.

    According to Mr. John Baptist Kaweesi, the Housing Finance Bank Head of Mortgage and Consumer Banking, this new campaign exceeds the market offerings but is also in line with the needs of Housing Finance Bank’s customers.

    “We are happy to have a solution that exceeds market offerings. A lot can be done with UGX 300 million shillings – homes can be built, businesses started, homes furnished, cars acquired and other aspirations. All of this can be achieved through this campaign at an interest of 16.5%, which translates to 1.375% per month. There is no need to borrow from other expensive sources and those with existing loans in the bank can come for top-ups and enjoy the new interest rates of 16.5%,” he noted.

    “I would like to declare the Double-Double salary loan campaign open to the public with special offerings for the next 3 months,” Kaweesi concluded.

    In order to ease access to the loan, Housing Finance Bank has further reduced the requirements and processing time to allow customers maximize the purpose for which the funds are sought.

    Customers simply need a salary account and an employment contract with their organization to qualify for the loan and the bank is guaranteeing a 24-hour response for all fully completed applications.

    Furthermore, customers do not need to have banked with the institution to borrow. Customers can also make inquiries directly to Housing Finance Bank by sending a WhatsApp message to +256771888755.

  • Katsha De’bank to give out Christmas monies 

    Katsha De’bank to give out Christmas monies 

    Katsha Group Chief Katsha De’bank will this Friday share Christmas goods in form of Mobile Money this Friday.
    Through his Facebook page, he will go live and send Christmas to 500 lucky people.
    This will be at 4pm Ugandan time and all you have to do is to Like post, share the :
    ‘Katsha De’BANK page and comment with your names and number
    “Hello Friends,
    I understand the difficulties you are going through during this period. We had hoped by Christmas we shall be free but, No!
    I will share the little with you, by sending something  direct  to your regestetred number.
    I will give out money to 500 lucky people direct to  there Phones. This will range from 50000/=, 30000/= and 20000/=.  All you have to do is to Like post, share the *Katsha De’BANK* page and comment with your names and number.  Good Luck and Merry Xmas,,” Katsha De’bank posted.
  • Housing Finance Bank Hands over Christmas Food Hampers to Children at Risk Action Network

    Housing Finance Bank Hands over Christmas Food Hampers to Children at Risk Action Network

    Kampala: Housing Finance Bank has handed over 60 Christmas food hampers to the Children at Risk Action Network (CRANE) as a contribution to their ongoing initiative that aims at supporting 500 children by offering them hampers of assorted food items to share with their families.

    Themed ‘Restoring hope amidst the Covid 19 pandemic’, CRANE anticipates reaching the children with a message of hope that they can, in turn, pass on to their friends, neighbours and the communities in which they live.

    Speaking during the handover, Patrick Oyuru, the Head Marketing and Communications at Housing Finance Bank said that the Bank is excited to take part in such an initiative that supports social welfare and restores hope to individuals and community members.

    “All Housing Finance Bank Corporate Social initiatives and partnerships are directed towards enhancing the sustainability and development of the communities in which we live, work, and do business. We take this as our ethical mandate towards society and we are committed to be known as a caring bank,” he noted.

    “We are fully cognizant of the fact that many families are grappling with unemployment and are ill-equipped to go through this festive season. As a proud indigenous brand, with a rich history and heritage, we are honoured to partner with CRANE on this initiative that spreads Christmas cheer to Ugandan families most especially, the children”.

    Faith Kembabazi, Director Children at Risk Action Network (CRANE), remarked that, at the beginning of December, they reached out to their service providers for support and among them is Housing Finance Bank.

    “We have many children who are unable to afford a proper meal on the table hence we decided to engage our service providers for support. Housing Finance Bank responded and was able to buy food hampers for the children. We thank Housing Finance Bank for giving back to the community and for making this possible,” she remarked.

    Housing Finance Bank is committed to actively contributing to a better society and a cleaner environment. Earlier this year, the Bank partnered with the Rotary club of Bukoto to provide relief aid items to 100 beneficiaries in Mulimira Zone in Kampala.“We are always looking for opportunities to create a positive impact in our communities and customer lives. We are very excited to have been able to contribute to CRANE’s initiative not only because they are our customers but because it’s for a good cause. Partnering with our communities to foster growth and change is at the heart of our corporate social responsibility initiatives,” said Carolyne Agudo, the Head Customer Experience at Housing Finance Bank she said.

    She further encouraged parents to teach their children to start saving at an early age.

  • Housing Finance Bank Signs MOU With Habitat For Humanity & Buganda Kingdom, Hands Over Cheque For The Construction of Two Complete Houses

    Housing Finance Bank Signs MOU With Habitat For Humanity & Buganda Kingdom, Hands Over Cheque For The Construction of Two Complete Houses

    Donation in line with the Bank’s goal of partnering with communities and role players to identify individuals and/or families with housing needs and support the development of decent housing solutions

    Kampala: Housing Finance Bank has signed a Memorandum of Understanding with Habitat for Humanity and the Buganda Kingdom in support of the Decent living Campaign that aims at improving lives of Ugandans through decent shelter, better livelihood, access to safe and clean water, better hygiene and sanitation.

    A key part of the event, Mr. Michael Mugabi, the Managing Director of Housing Finance Bank handed over a cheque of 40 million shillings to Habitat for Humanity Uganda, in the presence of Buganda Kingdom’s Oweek.

    Mariam Nkalubo Mayanja, to be used for the complete construction of two houses for two underprivileged families in Kalagi and Kyaggwe townships.

    “In line with our mandate as Housing Finance Bank is to enable home ownership and financial independence to our growing population across all walks of life, I am excited to perform two important tasks; first is to sign our pledge and commitment to work with Habitat for Humanity and Buganda Kingdom for the foreseeable future so as to build turnkey projects for vulnerable families in our communities; and secondly, to hand over a cheque for the first two houses to be built this year,” he remarked.

    “As the only tier 1 commercial bank that is fully owned by Ugandans, one of our key social responsibility pillars is to build a better society, as we continue to care about people. This aspiration is also in line with the prescriptions of the Sustainable Development Goals underlined under SDG 11, which looks at striving to provide access to decent housing for the truly marginalized and vulnerable in our society,” Mr. Mugabi added.

    Housing Finance Bank’s partnership with Buganda Kingdom and Habitat for Humanity dates back to 2018 when the three entities came together under the “Decent Living Campaign”.

    More recently, Housing Finance Bank has gone ahead to develop a financial solution termed the INCREMENTAL HOUSING LOAN – a flexible and extremely inclusive loan that can be accessed by low-income earners to buy a plot, build incrementally, access solar and water harvesting solutions, and furnish their homes using this loan which stretches between 500,000 to 50 million shillings.

    It recognizes that many Ugandans lie within the low to middle income segment, with fragmented revenue streams, and minimal documentation.

    Ms. Peace Kabunga, the Housing Finance Bank Executive Director noted that different housing solutions have been customized to cater for Ugandans based in Uganda and even those in the diaspora and they range from purchasing land or incomplete houses to outrightly purchasing multiple units. For over 50 years now, Housing Finance Bank has continued to provide viable solutions that enable home ownership for all Ugandans.

    The bank has entered into a number of partnerships with different developmental partners to facilitate the deployment of an affordable housing offer, enabling them to diversify the mortgage loan offer to include low and middle-income population who currently do not have access to an adequate financial offer from most commercial banks.

    “An opportunity to give back to the community, especially in the housing segment, is one we couldn’t pass. We will continue to participate in initiatives that deliver decent housing solutions to the vulnerable and marginalized in the communities where we do business,” Kabunga added.

    Mr. Robert Otim, the National Director Housing for Humanity said, “Housing is the key to other vital rights-based services such as access to clean and safe water, Hygiene, sanitation, health among others. The logic of housing is not only as a physical structure but as a platform and foundation to access wider development opportunities that contribute to the wellbeing of humanity.

    This is what the Decent Living Campaign is doing! We are glad to partner with Housing Finance Bank during this time when Uganda’s economy is grappling with the health and lockdown effects of the Covid-19 pandemic. Our partnership with Housing Finance Bank is timely to not only empower vulnerable communities to have a decent home under the Decent Living campaign but it also provides us with the opportunity to explore and grow the sector immense opportunities to realise access to decent and affordable housing for all income levels of people, acknowledging the fact that our values are so closely aligned with Housing Finance Bank; to eliminate poverty housing in Uganda.”

  • Housing Finance Bank, Rotary Club of Bukoto Partner to Provide COVID-19 Relief to Mulimira Zone Residents

    Housing Finance Bank, Rotary Club of Bukoto Partner to Provide COVID-19 Relief to Mulimira Zone Residents

    Kampala; Housing Finance Bank partnered with the Rotary club of Bukoto to provide relief aid items to 100 beneficiaries in Mulimira Zone in Kampala.

    The COVID-19 pandemic has created significant challenges across the country and many communities have been greatly impacted. Being compelled by the elevated levels of need as a result of the partial and full lockdowns, especially in the urban poor communities, the bank joined hands with Rotary Club of Bukoto who have an ongoing campaign dubbed “Hands of Love” to help those most affected in Mulimira Zone, Bukoto.

    The relief aid was handed over to different vulnerable categories including the Elderly, Women, and terminally ill residents comprised food items estimated to last for a period sixty days.

    Speaking about the partnership with Rotary to provide relief items, Michael Mugabi, the Housing Finance Bank Managing Director noted that Housing Finance Bank is proud to be involved in initiatives that support social welfare and benefit the different stakeholders.

    “Our social investments are directed towards enhancing the sustainability and development of the communities in which we live, work, and do business. We take this as our ethical mandate towards society and nature and are committed to being known as a caring bank.”

    “As a proud indigenous brand, with a rich history and heritage, Housing Finance Bank is committed to actively contributing to a better society and a cleaner environment. Initiatives like the partnership with Rotary to improve the lives of Mulimira Zone residents are evidence of this commitment,” he concluded.

    Representing the Rotary Club of Bukoto, President Edith Mujwisa said, “We are proud to partner with Housing Finance Bank to provide relief including food items to under privileged beneficiaries in Mulimira Zone where the club has been involved in community projects serving different categories of people. These are mainly the elderly, disabled, single mothers, pregnant women and those living with HIV. This partnership will supplement other ongoing efforts and programs towards improvement of the livelihoods of humanity.”

    “The COVID-19 pandemic has left hundreds of Ugandans vulnerable with no means of survival, no food and zero access to income generating activities. Because of this, Housing Finance Bank has continually made efforts to ease the hardships being faced across the country. Previously, we contributed Personal Protection Equipment to the Ministry of Health to enable the frontline workers maintain safety while treating COVID-19 patients across the country,” remarked Housing Finance Bank Chief Risk Office Marietta N Mwesigwa during the handover ceremony.

  • Housing Finance Bank partners with NSSF to enable social security contributions through Agency Banking

    Housing Finance Bank partners with NSSF to enable social security contributions through Agency Banking

    Kampala; Housing Finance Bank, National Social Security Fund (NSSF) and ABC (Agent Banking Company) have today announced a partnership that enables social security  collections through agency banking.

    The partnership means that NSSF members will now be able to submit their social security contributions through Housing Finance Bank agents in their neighborhood.


    Speaking during the launch    , Michael Mugabi, the Housing Finance Bank Managing Director explained that the service willbring convenience to the Fund’s members whilst giving the bankan opportunity to expand the financial services offered through its agency banking platform.

    “Given the prevailing circumstance, just like any other business, we have had to be fluid and deliberate in the way we innovateour service offerings. We are cognizant of the fact that customers are now more than ever keen on convenience – they want to make transactions right at the comfort of their homes or offices,” commented Mugabi.

    He added, “Our agent banking platform gives our customers the convenience of making various financial transactions in the comfort of their neighborhoods. The partnership launched today means that our customers will now also be able to conveniently save for their retirement through any of our 335 Agent Banking locations countrywide.


    Patrick     Ayota, the NSSF Deputy Managing Director said that the partnership offers NSSF members more options to remit their social security obligations.” This partnership means that theagent network facilitating NSSF transactions has now expanded to more than 600 bank agents countrywide,” He said.

    In addition, the service is expected to reduce the Fund’s operation and administrative costs especially in establishment of temporary service centers where it doesn’t have footprint. “We have in the past, set up temporary outreach centers at shs30m per month. With the agency network, the cost to serve members reduces by 25%, thereby unlocking more value to our members.” Ayota added.

    Under the partnership, the Agent Banking Company (ABC) Limited, will provide the technology that links all bank agents countrywide. Richard Yego, the ABC Chief Executive Officer said that the service ultimately supports bank agents to earn more from their businesses. He also assured NSSF members of the safety of their data while using the service at any bank agent location.

    In addition to the NSSF contributions collection service, theHousing Finance Bank Agent Banking platform enables customers to make cash withdrawals, deposits, inquiries for balances/mini statements, bill payments  and card-less cash out, funds transfer, school fees and tuition payments, among others.

  • Housing Finance Bank has embedded security in all transactions without making it complex to the customer – Twinamasiko

    Housing Finance Bank has embedded security in all transactions without making it complex to the customer – Twinamasiko

    A growing demand for convenient means of transactions and the need for 24-7 services means that more customers are now enjoying a greater sense of freedom.

    Availability is the name of the game as customers would like instant access to loans, deposits and their account status. We caught up with David Twinamasiko, the Senior Manager Alternate Channels at Housing Finance Bank to explain to us what it is that the bank is doing in this regard. Below are the excerpts;

    Qn: How do you rate digital transformation in the banking sector?

    There has been a remarkable shift to digitization of banking services Over the Last ten years .In this period, most banks have embarked on digitizing most of the their  processes with changes in their core banking systems to deliver more value to the customer as a result of efficient and leaner processes. This has significantly led to introduction of several innovations to the clients which have increased remote access of banking services from the comfort of their workplaces and homes. Clients are able now to check their balances, make payments and transfer funds conveniently with handheld devices like mobile phones in a very secure way among several interventions in place.

    Qn: What alternative channels does Housing Finance Bank currently offer?

    Housing Finance Bank has certainly gone through the digital transformation to create more value to its customers with introduction of Mobile Banking in 2015, MasterCard, Internet Banking and Agent Banking in 2019. At the Beginning of 2020, we delivered our corporate internet banking suite to our business and institutional customers. All these services augment our client’s access to banking services remotely which saves them a lot of time and money and inherently increasing their business value. Our ATM network which has provided services to our customers since 2004 has grown over the years with the onboarding of Interswitch and MasterCard. Our Clients nowhave access to over 500 ATMs locally and access in over 200 countries with their MasterCard.


    Our internet Banking is a self-registration service that can be accessed anytime while the other services are activated in less than 30 minutes at our branches.

    Qn: What percentage of HFB customers are now using alternative channels?

    Over 75% of the bank clients use our alternate channels. The Bank has over the years educated the clients about the benefits of using our alternate channels which actually empower them. Our digital services are offered in a secure way to the clients. We are aware that is not simply about preventing an attack but also ensuring the security features are well blended with the transactions in a simple way by removing the complex requirements. A shift to use alternate channels has also been enhanced more recently by the move to go cashless due to the COVID-19 pandemic.

    Qn: Has Housing Finance Bank registered an increase in digital channels since the onset of the Corona virus pandemic?

    The COVID-19 has created a shift globally to use digital channels. This is also seen from the recent BOU reports for the period ending June 2020 where cashless transactions have recorded increased activity during the first half of 2020 compared to the same period last year.

    Data from Bank of Uganda attributes the increase to actions undertaken to mitigate the spread of Covid-19. The report also notes that the value of mobile and Internet banking transactions increased by 157.3 percent and 52.9 per cent, respectively. Active users on Internet and mobile banking platforms grew notably by 36.7 per cent and 46.9 per cent, respectively during the period. Certainly Housing Bank has strongly advised clients on measures to prevent the spread of COVID-19 and among them increased awareness to utilize digital channels. This has certainly created a shift to embrace our Internet and mobile Banking which are complemented by the agent banking access points which are in the local communities.

    Qn: We have seen the introduction of Apps by many banks in Uganda offering a range of services. Please share some of the unique services offered by the HFB mobile app.

    The Housing Finance Bank Mobile app is one of a kind with a warm look and feel for any user with an android or apple mobile device. The app is accessed in the play store and apple store for android and apple users respectively.

    With the HFB app, you can conduct a Balance check for deposit or loan account remotely, Transfer of funds to accounts in the bank, Standing order creation and other services requests like cheque ordering, Payment for all your utility services like pay TV among others. The app also facilitates transfer to mobile network providers for mobile money services.

    It should be noted that our clients can access our mobile banking service using the code *225# on any type of mobile phone whether smart or feature.

    Qn: Security remains a major concern for Ugandans especially given the increase in instances of fraud and online attacks on financial institutions. How is HFB addressing this issue?

    The Bank has embedded security in all transactions without making it complex to the client.

    Users are required to use passwords to verify access to servicesand also use one-time passwords to validate any financial transaction. We have provided both soft and hard tokens for our corporate internet banking clients to generate one-timepasswords to validate the transactions. The Bank regularly sends advisory to the clients on how to detect and avoid fraud schemes in any form using our social media accounts, radio and email.

    All our back-office processes are secured and control measures are in place to detect any form of fraud on any of our digital platforms 24/7. We also ensure that all the partners associated with the bank providing services are regularly audited and carryout tests to ensure their environments are secure. Compliance to all regulatory requirements and international best practice is embedded in our day to day operations.

    Our contact center is available to our clients 24/7 to report any suspicious activity and any form of compliant which keeps the bank connected to the client.

    Qn: Can we expect a reduction in physical branches as Housing Finance increases its focus on alternative channels of banking?

    The Bank has maintained an optimal complement of the branches to support our clients. The branches offer their special place to our clients since we cannot eliminate face to face interactions which create room for break through client-led innovations.

    Focus on the use of alternate channels of banking will remain high in 2021 and years to come. This is mainly driven by the customer need for convenience and the need to be in control of their finances (Financial Independence). The Bank takes closer review of the customer needs and develops services that meet these needs. This philosophy drives our innovation and we seek to increase use of the alternative channels from 75% to 85% in the next year.

    Qn: What else can Ugandans expect in the future from a digital perspective?

    Ugandans own their destiny and all innovations that will create impact will come from interactions with the Ugandan Customer. These client-led innovations create more value to the users since these meet their needs.  Therefore, from a digital perspective, more interventions that allow the customer to open an account remotely, update it with any information and even borrow money using their mobile devices are going to become common place. This increases access to the financial services and strengthens their potential to obtain other financial products like housing loans that significantly improve their well-being. We as Housing Finance Bank seek to fulfil our purpose to enable home ownership and financial independence. All our digital innovations will follow this philosophy to prosper Ugandans.

  • Stanbic, Liberty and Stanlib contribute UGX 50 Million towards the NSSF Money Talk symposium

    Stanbic, Liberty and Stanlib contribute UGX 50 Million towards the NSSF Money Talk symposium

    Stanbic Bank Uganda, Liberty Life Assurance Uganda Limited and STANLIB Uganda Limited have made a significant contribution of UGX 50 Million towards the NSSF Money Talk symposium taking place next week on Monday 10th June 2019.

    This will be the first NSSF Investment and Wealth managementsymposium and it aims to bring together financial advisory and investment experts from within the East African region to promote professional financial and investment decision making.

    NSSF Head of Marketing, Barbara Arimi said that for NSSF members to sustainably benefit from their savings, they must plan and seek expert advice, lest they lose all their life savings because of ill-advised and poor decision-making.

    “In 2018 we concluded a survey among NSSF beneficiaries to compare the quality of life of NSSF beneficiaries before and after retirement receiving NSSF benefits. 53% said that their benefits sustained them for less than a year and by the end of the first year, 98% had no cash left. We know that the story would be different if they had planned well and had sought professional advice,” she said.

    Speaking at the handover ceremony, Israel Arinaitwe – Head of Personal Markets Stanbic Bank Uganda said, “We are proud to bein partnership with NSSF in this inaugural symposium because it aligns with our wealth strategy. Wealth is not only for the wealthy, but it is for everyone and we are all on our uniquepersonal wealth journeys. Through our Wealth Financial Fitness academies, we enable our clients understand how they can holistically plan for their finances, protect the wealth created for their families to enable them to live their desired lifestyles.

    In delivering the Wealth proposition, Stanbic leverages on the capabilities of the strategic partnership with STANLIB and Liberty Group who will be integral to providing the best solutions in creating sustainable wealth.

    The Head of Retail and Marketing Liberty Life Assurance Uganda, Agatha Namara said, ‘Liberty is pleased to be part of the symposium. This partnership enables us to deliver a superior, enhanced and innovative value proposition to customers that take care of all their financial service’s needs. The one-stop shop facilitates us to analyse, assess and advise clients efficiently based on their individual needs’.

    Also making remarks at the event, Richard Muganzi – Head Business Development STANLIB Uganda Limited said, “Stanlib offers different products to grow and manage your money and can help customers manage investments before and after retirement.”

    The symposium, which will be attended by over 1,000 people at the Kampala Serena Hotel, will also equip participants with knowledge to enable them plan for their retirement better by managing their personal finances well, planning, and making sound and informed choices about financial products and investment.

    At the event the guest speaker will talk about “Wealth Creation & Preservation for Generations”. Other topics of discussion include “How to create wealth through Capital Markets” and “Real Estate for Wealth Creation & Preservation”.    

    Barbara further added, “This symposium is only a part of our Financial Literacy Programme at the NSSF. Through this initiative, we want to offer professional financial and investment advice to our members to enable them make better decisions when they get their retirement funds. Financial literacy is an area on which the Fund will focus because unfortunately, not many Ugandans have the knowledge and skills to make informed financial decisions. We have specifically segmented our membership, from those who have started saving with us to those who are about to exit to enable us provide advice that is relevant and useful,”

    According to the findings of the Fund’s survey, most retirees invest their pension in agriculture, business, land, rentals, cows, further education, school fees, medical bills or fixed deposits to earn an interest.

    Making better investment decisions will ensure retirees do not end up being destitute or dependent after receiving their pension. Whereas many of our members invested their money gainfully in business, there is a general lack of knowledge on business management and opportunities that can generate earnings to cater for their cash flow needs,” Byarugaba concluded.

    The event speakers have been drawn from Bank of Uganda, Capital Markets Authority, Stanbic Bank, National Housing and Construction Company Limited, Housing Finance Bank and NSSF.

  • 25 companies register for NSSF Hash 7 Hills run

    25 companies register for NSSF Hash 7 Hills run

    Over 25 companies have so far signed up for the NSSF Kampala Hash run that is aimed at raising Shs 400 million for the renovations of selected public schools in Kampala.

    Ms Stella Ndiwalana, the CSR & Sponsorships manager Umeme hands over a shs 5 million cheque to Mr Patrick Ayota, the NSSF Deputy Managing Director

    The money collected will go towards helping Kampala Capital City Authority (KCCA) renovate schools under its care in Kampala. KCCA has 79 Government grant aided primary schools with a total enrolment of close to 70,000 with an allocation of about shs500m per year.

    L-R Mr Patrick Ayota, the NSSF Deputy Managing Director receives a Shs 5 million cheque from Mr Alex Makata, the General Manager Clarkson as contribution towards the NSSF Hash 7 Hills Run

    Due to the inadequate funding, most of the schools have dilapidated facilities and require refurbishment, amongst other challenges and as such require funding to be renovated and made habitable for students.

    Mr Patrick Ayota, the deputy managing Director NSSF speaking during a cheque handover ceremony held on Friday at Workers House, said, “In 2015, we established a partnership with the Kampala Capital City Authority (KCCA) to raise funds for refurbishment of public schools under KCCA management. It is part of our corporate social responsibility.

    Mr Patrick Ayota, the NSSF Deputy Managing Director receives a shs 5 million cheque from Mr Martin Nsubuga the Acting CEO Uganda Retirement Benefits Authority

    He said this objective was realised by organizing a Charity Run – the “NSSF Kampala Hash 7 Hills Run”, in conjunction with Kampala Hash House Harriers.

    Ms Barbara Kasekende, Stanbic Bank Manager CSR investments hands over a shs 15m cheque contribution towards the NSSF Hash Run to Mr Patrick Ayota, NSSF Deputy MD

    “This year, the 3rd edition of the Run takes place on March 25, 2018 starting at Pearl of Africa Primary School, Nsambya. It will cover a distance of 21km around the historical seven hills of Kampala,  namely Nakasero, Kibuli, Old Kampala, Namirembe, Rubaga, Lubiri and Nsambya,” Mr Ayota said.

    Adding that “So far, we have had good response from our partners – 25 companies have confirmed participation.”

    Mr Ayota said they expect over 1,500 participants to take part in the run. A number of them have already confirmed their participation. These companies include Stanbic Bank, Insurance Company of East Africa, URBRA, The Red Pepper Publications, Umeme and Clarkson.

    Ms Stella Ndiwalana CSR manager Umeme, Ms Barbara Kasekende CSR manager Stanbic, Mr Martin Nsubuga CEO UBRA, Mr Patrick Ayota, NSSF deputy MD and Mr Emmanuel Mwaka

    These join a list of other companies that had already confirmed participation and they include; Radio Simba, Vision Group, Daily Monitor, ICEA Group, Pinnacle Security, Galaxy FM, Barclays Bank, Housing Finance Bank, Citibank, Mukwano Industries, Cementers, First & Furious group, Centenary Bank, Capital Markets Authority, IPSOS.

    The Kampala Seven Hills Run is a fun, non-competitive event that covers the historical 7 hills of Kampala, hence the 7 hills run moniker.  Participants run a distance of 21km around the seven hills of Kampala. It is organised by the Kampala Hash House Harriers Club.