DFCU Bank has officially opened its Namanve branch in the heart of one of Uganda’s fastest-growing industrial hubs.
Set within the bustling Namanve Industrial Park, the event signaled strong confidence in Uganda’s growing industrial and manufacturing future. The branch becomes dfcu’s 55th nationwide presence and the second bank to establish a physical footprint inside the park.
Minister of State for Trade, Industry and Cooperatives Hon.David Bahati underscored the significance of situating financial services within industrial zones. He congratulated dfcu for aligning with government priorities and highlighted that Uganda currently has 12 operational industrial parks, with plans to expand to 22 nationwide.
Bahati noted that the industrial sector now contributes 16.5% to Uganda’s GDP, with manufacturing alone generating approximately Shs 8 trillion and employing over 1.4 million Ugandans. The Namanve Industrial Park itself hosts more than 400 factories and employs around 4,000 people.
He described the new branch as a practical tool for unlocking productivity, improving cash flow, and accelerating growth for manufacturers. While commending dfcu for its improved service and competitive rates, he also encouraged the banking sector to continue working toward more affordable lending to further catalyse industrial expansion.
Bahati urged dfcu to replicate the Namanve model in other industrial parks as government expands the country’s manufacturing footprint.
Margaret Karume, Chief Credit Officer at dfcu Bank, stated that the branch aims to serve customers within the industrial park and surrounding regions, bringing financial services closer to where businesses operate.
“We have a cash depositor machine that allows cash deposits 24 hours a day, 7 days a week all year round. This initiative supports both corporate and personal customers, and we are fully committed to transforming lives and businesses in Uganda,” she said.
George Musisi, newly declared Member of Parliament for Kira Municipality welcomed the development, applauding dfcu for bringing services closer to the community and supporting the industrial sector in a tangible way.
Musisi emphasized that while due diligence remains essential, banks should strive to balance compliance with efficiency.
“Quick access to finance is crucial to prevent reliance on money lenders due to extensive paperwork in banks,” he noted, calling for streamlined processes that protect both the bank and its customers.
For business leaders like Faridah Ally, Manager at LaganDott Namanve Ltd, the new branch represents both convenience and continuity. LaganDott has served as the official road construction and infrastructure company in the park since 2021. Having opened her first dfcu account five years ago, she described the bank as a steady partner in her company’s growth journey.
Waida Fred Moses, Vice Chairperson for Namanve Industrial Park, pledged full support to the bank.
“As leaders, we pledge our full support to dfcu. As local leaders, we must cooperate with institutions that come to serve our community. We have worked with many organisations in this area, and I commit myself and our leadership to supporting dfcu.”
dfcu Bank continues to partner with government and industry to advance Uganda’s development agenda under the “Tenfold Growth Strategy,” which aims to expand the economy to $500 billion by 2040. Implemented through the Fourth National Development Plan, the strategy focuses on accelerating agro-industrialization, mineral value addition, oil and gas commercialization, and transitioning subsistence households into the money economy through the Parish Development Model.
Uganda remains among the world’s fastest-growing economies, buoyed by resilient macroeconomic performance and rising private sector credit activity, with projections placing the country among top performers by 2031.