Housing Finance Bank deepens Hoima presence as Bunyoro economy expands

Hoima, Uganda | THE INDEPENDENT | Housing Finance Bank (HFB) is strengthening its presence in Hoima as growing economic activity in Bunyoro creates new demand for housing, agricultural, micro-business and small and medium enterprise financing.

The bank made the commitment recently during a customer engagement forum in Hoima, where its leadership met customers and other stakeholders to discuss their experiences, evolving financial needs and areas where the bank can improve its products and services.

The engagement brought together HFB leadership, the Hoima branch team, customers and local stakeholders, with the Prime Minister of Bunyoro Kingdom, Omuhikirwa Andrew Byakutaga, as guest of honour.

Ivan Kituka, Head of Distribution and Alternative Channels at HFB, said customer feedback has played a significant role in shaping the bank’s growth in Hoima since it opened its branch in 2023.

Kituka said the bank initially entered the market with a strong focus on SMEs but later adjusted its offering after customers pointed to the need for financing tailored to micro businesses and people undertaking construction projects gradually.

In response, HFB introduced a dedicated Micro Banking section offering financing ranging from Shs200,000 to Shs50 million, widening access to credit for customers who may not qualify for conventional SME financing.

“Customer feedback is a gift,” Kituka said, urging customers to openly communicate both their positive experiences and areas where they believe the bank needs to improve.

Kituka said HFB is also investing in local capacity and outreach to make financial services more accessible to communities across Hoima.

The bank has increased the size of its Micro Banking team and is recruiting and developing local talent as part of efforts to bring services closer to customers rather than relying solely on the branch.

HFB also encouraged local businesses and individuals to consider becoming bank agents.

According to the bank, the agency model can create additional income opportunities while allowing customers to access basic banking services closer to their communities and reducing congestion at branches.

The push comes as Bunyoro undergoes rapid economic transformation, driven by increasing investment and opportunities in agriculture, coffee production, housing and enterprise.

Byakutaga said the region’s fertile soils and expanding economic activity provide significant opportunities for residents, but access to land documentation and affordable finance remains critical if communities are to participate meaningfully in the region’s growth.

He called for greater access to land titles, which can help residents unlock financing and invest in productive activities.

The Prime Minister also pointed to the housing deficit in the region, noting that a relatively small proportion of residents live in permanent houses.

He urged financial institutions to expand affordable housing solutions, including HFB’s Zimba Mpola Mpola product, to enable households to build incrementally according to their financial capacity.

Agricultural financing was another major issue raised during the engagement, reflecting the importance of farming to the Bunyoro economy.

Byakutaga urged HFB to extend its financial services further into farming communities and provide affordable credit that would enable farmers to invest in production and take advantage of emerging markets.

HFB highlighted financing options available to farmers, including a large-scale farmer facility offered at zero interest, subject to applicable requirements, as well as the Agricultural Credit Facility at a subsidised interest rate of 12%.

Customers were also encouraged to make greater use of the bank’s digital channels, including USSD banking through *225#, which enables customers without smartphones to carry out banking transactions without necessarily travelling to a branch.

The bank said expanding digital and agency banking is part of its broader effort to improve financial inclusion, particularly for customers in communities where access to conventional banking infrastructure remains limited.

Carolyne Agudo, Head of Customer Experience at HFB, said customer concerns must not only be received but also tracked and resolved through established service channels.

Customers were reminded that the bank’s toll-free customer service channel is available to receive and track complaints and feedback, with unresolved matters escalated through the bank’s internal service structures.

The importance of customer feedback was illustrated by a testimonial from Embati Williams, a proprietor who said HFB financing helped accelerate his construction project.

Williams said that after engaging with the bank, he opened an account, submitted bank statements from his existing commercial bank accounts and completed the loan application process.

He said the facility was approved and disbursed in less than a month, enabling him to complete a project that he had initially expected to take about eight years in less than three years.

The testimony highlighted the potential role of tailored financing in helping households and businesses accelerate investment, particularly in a region where construction and property development are becoming increasingly important economic activities.

At the close of the engagement, HFB committed to reviewing the issues and recommendations raised by customers.

As Hoima and the wider Bunyoro region continue to attract economic activity, the bank said it will