In amove aimed to scale up reliable and accessible financial services closer to the communities, Housing Finance Bank has expanded its footprint in Eastern Uganda with the grand opening of its newest branch in Soroti District.
The branch, strategically located at Plot 67 Gweri Road along Soroti Main Street, is expected to serve individuals, farmers, traders, and small enterprises with a wide range of customer-focused banking solutions.
The Soroti branch becomes the latest addition to the Bank’s growing network of 21 branches nationwide, reaffirming its commitment to financial inclusion and broad-based economic growth.
Housimg Finance officiers have confirmed that customers will have access to an extensive portfolio of services, including savings and current accounts, personal and mortgage loans for families, as well as tailored products for farmers and agribusiness players such as agricultural financing, equipment loans, and dedicated credit lines to support production and value addition.
Micro, small, and medium enterprises will also benefit from business accounts, working capital financing, and advisory services aimed at strengthening entrepreneurship and job creation. The Bank will additionally offer full digital banking options, allowing users to transact securely via mobile and online platforms at their convenience.
Presiding over the launch, Vice President Jessica Alupo commended the initiative, describing it as a major step toward inclusive development in the region.
“Today marks a new chapter in Soroti’s economic transformation. The establishment of Housing Finance Bank Soroti branch is part of our broader push to reduce financial exclusion and accelerate regional growth. Government continues to invest in interventions that help businesses thrive and communities prosper,” she said.
She highlighted the Small Business Recovery Fund (SBRF) as one of the initiatives designed to support MSMEs recovering from the effects of COVID-19, encouraging eligible entrepreneurs to take advantage of affordable financing now accessible through Housing Finance Bank as a participating institution.
Hannington Wasswa, who represented the Director of Commercial Banking at the Bank of Uganda, echoed the Vice President’s remarks and emphasized the importance of such initiatives in boosting Uganda’s economy.
“This new branch demonstrates confidence in Uganda’s financial sector and in Housing Finance Bank’s capacity to serve communities sustainably. Even in the digital era, physical branches remain vital for SMEs, farmers, and households that rely on face-to-face financial guidance. Soroti is fast becoming an agro-industrial center, and this investment will deepen financial inclusion and stimulate enterprise growth,” he noted. He further assured the Central Bank’s continued commitment to maintaining a strong and inclusive financial system.
Housing Finance Bank’s Managing Director, Michael K. Mugabi, affirmed the Bank’s dedication to advancing socio-economic progress:
“The opening of our Soroti branch symbolizes our promise to walk with our customers on their journey to financial empowerment. We aim to deliver banking that is accessible, affordable, and genuinely transformative. This branch will serve as a catalyst for economic resilience and growth within the Teso sub-region.”
The event was attended by leaders from across the region, including Soroti Resident City Commissioner John Michael Okurut, Soroti City Mayor Joshua Edogu, and other dignitaries from Kumi, Serere, and neighboring districts.
Demonstrating its commitment to environmental sustainability, the Bank distributed 1,500 tree seedlings as part of its Tiny Forest Initiative. The gesture reinforces the Bank’s belief that meaningful development must balance financial progress with environmental protection.
The opening of the Soroti branch comes just a week after the Bank launched a new branch in Nansana, one of Kampala’s rapidly expanding business centers. Together, these developments highlight Housing Finance Bank’s long-term mission to champion financial inclusion, nurture sustainable enterprises, and promote home ownership as part of financing a sustainable future for all.