Public procuring entities have been urged to make local content a central part of Uganda’s economic growth strategy so that government spending creates more opportunities for local businesses, workers and communities. The executive director of the Public Procurement and Disposal of Public Assets Authority (PPDA), Benson Turamye, said public procurement should go beyond compliance with…
Government has increased the authorised share capital of the Uganda Development Bank (UDB) from Shs2 trillion to Shs5 trillion as it seeks to expand access to affordable long-term financing for businesses and other productive sectors of the economy. The decision is part of government’s efforts to use UDB to support economic transformation under the National…
Uganda Development Bank (UDB) has launched a regional office in Mbale City to expand its footprint and improve access to development financing in eastern Uganda. The new office, located on Masaba Road, will serve as a coordination and service centre for the Elgon, Teso, Bukedi, Busoga and Karamoja sub-regions. UDB said the facility will strengthen…
The French Development Agency (AFD) has signed a €40 million (about Shs 170 billion) financing agreement with the Uganda Development Bank (UDB) to support priority sectors of the economy. The funding package includes an additional €800,000 (about Shs3.38 billion) in technical assistance. The agreement was signed on Monday at UDB Tower in Kampala by Marc…
Prime Minister Robinah Nabbanja has reaffirmed the government’s commitment to strengthening Uganda Development Bank’s (UDB) capital base to enable it to fully deliver on its mandate of accelerating Uganda’s socio- economic transformation. Nabbanja made the remarks on Friday while officiating at a ceremony where staff of UDB were passed out after completing a refresher training…
The Uganda Development Bank (UDB), the state-owned development finance institution, has opened a regional office in Hoima City to serve the mid-western region and the Albertine area. The office, located at Plot 5 Kyaruhanga Road, will act as a liaison point for districts including Kagadi, Kakumiro, Kibaale, Kikuube, Kiryandongo, Masindi, Hoima, and Buliisa. UDB says…
Dr. Patricia Ojangole, the managing director of Uganda Development Bank (UDB), has urged the government to support the scaling up of national development banks like UDB if they are to make a real impact in the lives of the people. Ojangole was speaking on the second day of the Uganda Development Finance Summit organised by…
President Museveni has said economic development in Africa has been hampered by leaders who lack vision and who have no integrity. Museveni made the remarks at Speke Resort Munyonyo while officially opening the Uganda Development Finance Summit organised by Uganda Development Bank (UDB). “Africa is 250 years behind Europe because most of the leaders neither…
