Uganda Development Bank (UDB) has strengthened its presence in the mid western region with the opening of a new regional office in Hoima City, a move aimed at bringing development finance services closer to businesses and investors across Bunyoro.
UDB Managing Director Patricia Ojangole said during the launch tha the expansion reflects the bank’s commitment to supporting regional economic transformation by reducing the barriers entrepreneurs face when seeking long term capital. She noted that decentralising services allows more businesses to benefit from UDB’s targeted funding for agriculture, manufacturing, tourism, health, education, technology and emerging industries.
The office, located in the heart of Hoima, will serve districts including Hoima, Masindi, Kikuube, Kagadi, Kakumiro, Kiryandongo, Buliisa and neighbouring areas. UDB says the new branch will ease access to affordable financing and advisory services for enterprises seeking to expand or start new projects.
Government officials welcomed the new office, describing it as timely for a region that is attracting increasing investment interest, particularly due to ongoing oil and gas activity in the Albertine Graben. They said improved access to development financing will help local enterprises take advantage of new market opportunities and create jobs.
UDB highlighted that businesses in Bunyoro have already benefitted from substantial financing approvals this year, with the bank supporting projects expected to generate employment, increase production capacity and contribute to national revenue.
With the Hoima branch now operational, UDB expects faster loan processing, closer project supervision and stronger engagement with local entrepreneurs aimed at boosting economic activity and inclusive growth in the region.