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 the new office is intended to make its services more accessible and to support businesses that struggle with distance and the cost of seeking financial support in Kampala.
Dr Patricia Ojangole, the bank’s managing director, said the regional presence would help UDB improve service delivery and support investment opportunities across the country.
“Extending our footprint to the Bunyoro sub-region demonstrates our commitment to narrowing access gaps and bringing essential financial services closer to the communities that need them. This is crucial for advancing economic empowerment, fostering inclusive growth, and accelerating transformation,” Dr. Ojangole said.
Ojangole said the bank intends to use the office to strengthen both financial and advisory support for enterprises in agriculture, agro-industry, manufacturing, services such as health and tourism, and infrastructure.
The state minister for Bunyoro Affairs, Jenipher Namuyangu, who officiated at the launch, said the region needed easier access to development finance given its growing activity in agriculture, oil and gas, tourism, and other sectors.
“This region is rich in potential in agriculture, tourism, energy, and emerging industries, and deserves direct access to the financing and advisory services needed to harness it. By bringing services closer to the people, UDB is reducing the cost and distance barriers faced by businesses and communities, while also accelerating investment, job creation, and value addition within the sub-region,” she said.
UDB said that in 2025, it approved loans worth Shs 75 billion to five enterprises in Bunyoro. The funded projects are expected, according to the bank, to generate 2,322 jobs, Shs 421.7 billion in output, Shs 406 billion in foreign exchange earnings, Shs 22 billion in profits, and Shs 6.58 billion in tax contributions.
Until now, UDB has operated mainly from offices in Kampala and Gulu. The bank is also setting up offices in Mbale, Arua, and Mbarara as part of a wider plan to expand its regional presence.
