Housing Finance Bank Scoops Awards for Backing Farmers and Small Businesses

Housing Finance Bank has won two national awards for its outstanding efforts in boosting agricultural productivity and supporting Uganda’s small businesses to recover from recent economic shocks.

The accolades — the Agricultural Credit Facility (ACF) Award and the Small Business Recovery Fund (SBRF) Award — were presented last week during ceremonies hosted by Bank of Uganda at the Sheraton Hotel in Kampala.

The twin recognition places Housing Finance Bank among the top-performing financial institutions under these government-backed initiatives aimed at strengthening Uganda’s economic resilience.

The Bank was applauded for expanding access to affordable credit for smallholder farmers, who make up 80 percent of Uganda’s agricultural base, helping many transition from subsistence to commercial farming.

The Agricultural Credit Facility, jointly financed by government and participating financial institutions, was established to address bottlenecks in agriculture financing by lowering the cost of credit and extending repayment periods.

“Receiving these awards is a testament to our unwavering commitment to supporting Uganda’s key economic drivers — agriculture and small businesses,” said Angela Ndawula, Head of Business and Institutional Banking at Housing Finance Bank.

The bank’s outreach under the ACF programme has enabled more farmers to adopt mechanisation and improved farming practices, contributing to food security and market-oriented production.

At the same time, Housing Finance Bank was recognised for its leading role in implementing the Small Business Recovery Fund.

The fund, set up in the aftermath of COVID-19 disruptions, offers low-interest loans to micro, small and medium enterprises (MSMEs), many of which struggled with lost income and rising costs.

According to a recent Bank of Uganda report, MSMEs constitute 93 percent of the beneficiaries under the recovery fund.

Housing Finance Bank has helped hundreds of these businesses to access working capital, preserve jobs, and gradually return to profitability.

Evelyn Anite, the State Minister for Privatisation and Investment, was the guest of honour at the awards ceremony.

She praised the central bank for recognising banks that have excelled under the schemes and highlighted the growing impact of the programmes.

“I was happy to learn that the ACF capital has grown from Shs330 billion to Shs1.2 trillion, significantly expanding access to finance for agriculture,” she said.

Housing Finance Bank’s growing portfolio of MSME clients — over 1,700 to date — reflects its broader strategy to deepen financial inclusion and stimulate grassroots entrepreneurship.

Bank officials say these efforts have contributed to the creation of more than 250,000 jobs in recent years.

“We are proud to be part of initiatives that not only provide access to affordable financing but also empower entrepreneurs and farmers to scale their operations, create jobs, and build resilient communities,” said Ndawula.

The recognition comes amid wider scrutiny of the role financial institutions play in development financing.

With Uganda’s economy still recovering from pandemic-related shocks, rising cost-of-living pressures, and climate-related risks to farming, government and central bank officials are keen to promote targeted credit to key sectors.

The Bank of Uganda says it will continue working with commercial banks to strengthen uptake of the ACF and SBRF, with a focus on equity in access, especially among women and youth-led businesses.

Housing Finance Bank’s awards also underscore a shift in the country’s financial sector — from traditional banking to more development-focused finance — in line with national goals under Vision 2040 and the Parish Development Model.

For farmers like Prossy Nanyonjo in Luwero, who accessed a low-interest loan under the ACF to acquire irrigation equipment, the impact is already visible.

“For the first time, I harvested maize in the dry season. This loan changed everything,” she told reporters on the sidelines of the ceremony.

As Uganda seeks to industrialise and modernise its agriculture, officials say banks like HFB will remain essential partners in de-risking rural lending and enabling economic transformation from the bottom up.