Africa-Press – Uganda. The Uganda Development Bank (UDB) has expanded its footprint into the Bunyoro Sub-region with a new regional branch in Hoima City, an investment expected to unlock long-term financing for enterprises in one of Uganda’s fastest-growing economic corridors.
The branch, opened on Thursday, November 27, 2025, arrives at a pivotal moment for Hoima, now firmly established as the epicentre of Uganda’s emerging petroleum industry and home to major developments including the oil refinery, the East African Crude Oil Pipeline (EACOP), Hoima International Airport and the newly announced Hoima Stadium.
Speaking at the ceremony, UDB Managing Director Dr Patricia Ojangole said the expansion reflects the Bank’s commitment to supporting Uganda’s national development agenda and ensuring that local enterprises benefit from opportunities created by the oil and gas economy.
She said the Hoima office is a major step in bringing financing and technical support closer to businesses that are often underserved despite driving much of the country’s economic activity.
Dr. Ojangole noted that UDB’s role has evolved beyond traditional lending to include project preparation, business advisory services, capital mobilisation and structuring of major investments.
With the region on the verge of rapid transformation, she emphasized that the Bank would prioritise financing for local content participation, value addition, sustainable agriculture and eco-tourism.
She described the launch as a declaration that no region or community is too remote for access to opportunity, saying, “Today, we do not simply cut a ribbon; we ignite a flame — a flame of enterprise, resilience and shared prosperity.”
The launch was presided over by State Minister for Bunyoro Affairs Jeniffer Namuyangu, representing Finance Minister Matia Kasaija.
She praised UDB’s growing national impact, noting that businesses supported by the Bank have generated socio-economic gains through job creation, tax contribution and increased household incomes.
She highlighted Bunyoro’s vast potential in manufacturing, tourism, primary agriculture, agro-processing and the oil and gas value chain, urging entrepreneurs in the Albertine region to take full advantage of UDB’s financial and non-financial services.
She also reaffirmed government’s commitment to strengthening the Bank, pointing out that the 2025/26 national budget allocated an additional Shs1 trillion for UDB’s capitalisation.
UDB’s Director of Investment Mahamoud Andama said that since 2020, the Bank has financed 26 enterprises in the region, totalling Shs25.47 billion across agro-industrialisation, primary agriculture, tourism, education, industry and infrastructure.
He reiterated UDB’s mandate to accelerate Uganda’s growth through sustainable financing that supports high-impact private sector investments.
Local leaders welcomed the new branch as a long-awaited milestone. Hoima Municipality MP Patrick Isingoma said access to affordable capital has been one of the biggest challenges for local entrepreneurs and described UDB’s presence as a “game changer” that brings low-cost financing closer to communities.
Hoima City Mayor Brian Kaboyo echoed this view, noting that the branch has opened at the perfect moment as the city prepares for increased demand for hospitality, accommodation and other business services driven by oil-related developments and the upcoming stadium project.
The Hoima regional branch is expected to serve thousands of businesses across Bunyoro and the wider Albertine region, offering credit, advisory services and investment opportunities.
UDB says its long-term goal is to ensure that the oil and gas boom translates into inclusive and sustainable development — lifting local enterprises, creating jobs and building economic resilience.
With the launch now complete, the Bank says its mission is clear: to turn the region’s vast potential into real, measurable prosperity.
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