The Uganda Development Bank (UDB) has been honoured with the outstanding Business Sustainability Achievement Award at the Karlsruhe Sustainable Finance Awards 2025, held during the Global Sustainable Finance Conference (GSFC) in Karlsruhe, Germany.
The GSFC is a premier global platform dedicated to advancing practical, implementation-focused solutions for sustainable banking and finance, distinguishing itself from broader discussions by emphasising actionable outcomes.
The Karlsruhe Sustainable Finance Awards celebrate financial institutions and leaders who have made significant contributions to sustainable banking and finance.
These awards recognise organisations that have successfully integrated economic, social, and environmental sustainability into their culture, while also promoting the growth of sustainable financial instruments and markets worldwide. Additionally, they honour presidents and CEOs who have distinguished themselves as leaders in this field.
The UDB was described as “a driving force for inclusive and sustainable growth” in Uganda. It highlighted UDB’s pivotal role as the nation’s development finance institution, transforming key sectors such as agriculture, industry, infrastructure, and services by providing long-term, patient capital where it is most needed.
“UDB’s impact extends far beyond financial support—it creates opportunities, enhances food security, boosts manufacturing, and promotes the services sector,” the citation noted.
This award acknowledges UDB’s exemplary commitment to embedding sustainability holistically across its operations and delivering measurable socio-economic impact. The institution’s performance is rigorously monitored throughout the year, with its dedication to sustainable development, economic growth, and balance sheet expansion while ensuring positive socio-economic outcomes being particularly commendable.
UDB is also globally recognised as a leader in sustainability and holds the prestigious Sustainability Certified Financial Institution status.
Commenting on the achievement, Dr Patricia Ojangole said, “UDB is deeply honoured to receive the Sustainable Finance Award 2025. This milestone underscores our role as a key player in fostering an inclusive, green, and sustainable Ugandan economy. The Bank remains committed to prioritising and mainstreaming holistic sustainability in its practices, inspiring stakeholders to raise awareness of sustainable development.”
In 2024, Dr Ojangole was named Sustainability Leader of the Year at the Karlsruhe Sustainable Finance Awards for the fourth consecutive year. Additionally, UDB achieved the Sustainability Standards and Certification Initiative (SSCI) Version 2, Level 5 certification—the highest level of SSCI ratings.
The Bank first received this certification in July 2020, making it the first sustainability-rated bank in Africa and one of the top five globally to consistently earn an A+ rating from the Association of African Development Financial Institutions (AADFI) as a top-performing development finance institution.
These accolades reflect UDB’s robust governance structure, which supports social, economic, and environmental sustainability and climate action through its financial and non-financial services.
By adhering to rigorous compliance processes and holistic sustainability standards, UDB has built strong organisational capacity to mobilise, lend, and invest funds for high-impact sustainable outcomes.
Launched in 2009 following the global financial crisis, the Global Sustainable Finance Conference has been held annually since 2011. Now in its 15th year, it has evolved into a leading international platform for sharing practical solutions to implement true sustainability and combat greenwashing, focusing on state-of-the-art approaches rather than general discussions.
