The Independent Uganda: You get the Truth we Pay the Price
Gulu, Uganda | THE INDEPENDENT | Housing Finance Bank has reiterated its commitment to supporting affordable housing and sustainable urban development in Uganda’s emerging cities during the Acholi Real Estate and Infrastructure Conference held in Gulu City.
The conference, organized by Knight Frank Uganda through its Real Estate Development and Investment (REDi) initiative, brought together developers, financiers, urban planners, policymakers, and real estate stakeholders to discuss investment opportunities and infrastructure needs in Uganda’s fast-growing regional cities.
As secondary cities continue to expand and attract investment, discussions focused on practical strategies for financing housing and infrastructure required to support urban growth beyond Kampala.
Housing Finance Bank used the platform to showcase its efforts to expand access to housing finance and develop solutions tailored to the realities of how many Ugandans build and invest in homes.
Speaking during a panel discussion on financing and project delivery in regional markets, the bank’s Acting Head of Mortgage and Consumer Banking, Hellen Musubika, said traditional mortgage products alone cannot address Uganda’s housing needs.
“Many families build homes gradually depending on their income flow and this is why Housing Finance Bank has innovated products like Zimba Mpola Mpola, an incremental housing loan that allows customers to finance construction in phases rather than take on a single large mortgage upfront,” Musubika said.
She noted that flexible financing solutions are becoming increasingly important as more Ugandans seek affordable pathways to home ownership, particularly in emerging urban centres.
The conference also highlighted the growing investment potential of Gulu and the wider Acholi sub-region, which has increasingly attracted attention from investors looking beyond Kampala.
Knight Frank Uganda Managing Director Judy Rugasira described Gulu as one of Uganda’s most promising investment destinations.
“Gulu is open for business. It is a city that’s on the move, a city that is ready and very inviting for whoever is interested in investing,” Rugasira said.
She explained that the company’s outlook on the region is informed by extensive research conducted across northern Uganda.
“At Knight Frank, we believe in data-backed research. We spent time in Gulu, Nwoya and Kitgum mapping the market to understand demand, supply and investment opportunities,” she said.
Research findings presented during the conference identified several sectors with strong growth potential, including logistics, warehousing, cold-chain storage, residential housing, student accommodation, and hospitality.
Knight Frank’s Head of Research, Hillary Mbaihayo, said sustainable planning will be essential if secondary cities are to accommodate future growth.
“The momentum of growth in secondary cities like Gulu is undeniable, and their long-term success hinges on prioritizing planned, sustainable urban development now,” Mbaihayo said. “It is crucial that the financing sector and city planners work in coordination to meet the rising demand for organized housing and supporting infrastructure.”
Government officials attending the conference also emphasized the importance of collaboration between the public and private sectors in driving economic transformation.
Joseph Enyimu, Commissioner for Economic Development Policy and Research at the Ministry of Finance, Planning and Economic Development, said coordinated action would be critical in achieving Uganda’s long-term development ambitions.
“As part of the 500-billion-dollar economy that government is building, we need goal consensus, bringing together different players to see the same outcome, and I think this conference has served that purpose,” Enyimu said.
While participants acknowledged the growing investment opportunities in regional cities, many pointed to limited access to financing as one of the biggest obstacles to planned urban development.
Housing Finance Bank said it remains committed to addressing this challenge through innovative housing finance products and partnerships that support inclusive growth.
The bank noted that expanding solutions such as the Zimba Mpola Mpola housing loan, alongside stronger collaboration between government, developers, and financial institutions, will play a key role in unlocking sustainable urban development and reducing Uganda’s housing deficit.
As regional cities continue to emerge as new economic growth centres, stakeholders at the conference agreed that affordable housing, improved infrastructure, and accessible financing will be critical to ensuring that urban expansion remains structured, inclusive, and sustainable.
