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Mbarara, Uganda | THE INDEPENDENT | Uganda’s ambition to expand its economy nearly tenfold by 2040 will depend largely on the country’s ability to mobilise and channel capital into businesses, housing and infrastructure, Housing Finance Bank has said.
The bank made the call at the REDi Mbarara 2026 – Ankole Real Estate & Infrastructure Conference organised by Knight Frank Uganda, which brought together investors, developers, policymakers, financial institutions and other industry leaders to discuss investment opportunities and the region’s growth prospects.
The conference focused on real estate, infrastructure and regional investment, with discussions highlighting the role of finance in transforming emerging opportunities into productive economic activity.
Joel Matsiko, Acting Head of Business and Institutional Banking at Housing Finance Bank, said Uganda’s Tenfold Growth Strategy presents a major opportunity for financial institutions to support investment in productive sectors.
“If we are going to achieve the scale of growth envisaged under the Tenfold Growth Strategy, we have to ensure that capital is reaching the sectors that create economic value. That means financing businesses to grow, supporting housing development and investing in the infrastructure that allows economies to expand,” Matsiko said.
Uganda is targeting an expansion of its economy from about $50 billion to $500 billion by 2040, a goal that will require substantial investment across productive sectors and regions.
Mbarara and the wider Ankole region are emerging as important centres of economic activity, with opportunities spanning commercial enterprise, agriculture, real estate and infrastructure.
However, stakeholders at the conference noted that turning these opportunities into sustainable economic growth will require more than investment interest.
Adequate financing, infrastructure and collaboration among key players will also be critical.
Matsiko said financial institutions have a role to play in bridging the gap between investment opportunities and the capital required to develop them.
“There is a significant opportunity in bringing together government, investors, developers and financial institutions around viable projects and enterprises. As a Bank, our role is to provide the financial solutions that help turn these opportunities into sustainable economic activity,” he said.
The discussions also examined how regional economies can attract and effectively deploy investment.
Joseph Enyimu, Commissioner for Economic Development Policy and Research at the Ministry of Finance, Planning and Economic Development, spoke on financing regional growth, while Nelson Tugume of Inspire Africa highlighted emerging investment opportunities in Ntungamo, including plans around the development of Uganda’s “Coffee City.”
For Housing Finance Bank, the discussions reinforce the importance of providing financing across the wider economic ecosystem, including support for businesses and institutions, housing finance, financial inclusion and digital financial services.
The bank said its participation in the conference reflects its commitment to supporting investment and strengthening the financial ecosystem required to drive economic growth across Uganda’s regions.
As Uganda pursues its ambitious 2040 growth agenda, the ability to mobilise and direct capital towards productive businesses, affordable housing and critical infrastructure will remain central to converting investment opportunities into jobs, incomes and sustainable economic growth.
