UDB commissions new 14-storey headquarters in Kampala

KAMPALA. Uganda Development Bank (UDB) has commissioned a new 14-storey headquarters in Kampala as the development finance institution expands its operations and role in financing the country’s long-term economic transformation.

The UDB Tower, located on Plot 22, Hannington Road, brings the bank’s head-office operations under one roof in a purpose-built facility designed to improve coordination, efficiency and service delivery.

The commissioning on Tuesday was officiated by Finance Minister Henry Musasizi, who said the investment in the bank’s institutional capacity reflects government’s efforts to strengthen national institutions that support economic development.

Mr Musasizi said UDB has an important role to play in financing the government’s development priorities, including industrialisation, value addition and private-sector growth.

The new headquarters, he said, provides the bank with the infrastructure required to execute its expanding mandate.

UDB Board chairman Geoffrey T Kihuguru said the investment should be viewed beyond the physical building and in the context of the bank’s long-term role as Uganda’s national development finance institution.

“Our responsibility is to build a development finance institution that is not only relevant to Uganda’s needs today, but one that has the capacity and resilience to serve generations to come,” Mr Kihuguru said.

He said the new headquarters reflects the bank’s confidence in its future and Uganda’s economic development.

UDB managing director Patricia Ojangole said the commissioning marks the completion of an important phase in the bank’s institutional transformation.

“Beyond providing a modern and efficient working environment, it brings our people and operations together in a space designed to strengthen collaboration, innovation and service delivery,” Dr Ojangole said.

She said the facility would provide a stronger platform for UDB staff, operations and partnerships as the bank seeks to increase its development impact.

The commissioning comes as development finance institutions are increasingly being called upon to provide long-term and affordable financing to sectors considered critical to Uganda’s economic transformation.

UDB finances projects in areas including manufacturing, agriculture, agro-processing, tourism, education and other productive sectors, with its lending intended to support investment and expansion beyond what is typically available through conventional commercial lending.

The bank said the new headquarters is therefore intended to support its institutional growth as it expands its contribution to Uganda’s development agenda.

Dr Ojangole said the building represents the “growth, resilience and ambition” of an institution whose responsibility is to deliver measurable development impact.

The commissioning brings UDB’s head-office functions together in a single facility, which the bank said is intended to improve internal collaboration and create a more integrated working environment.

The development is part of UDB’s broader institutional transformation as the bank seeks to position itself to respond to Uganda’s evolving financing needs and support the country’s long-term economic ambitions.