Housing Finance Bank yesterday launched a partnership with Water for People to implement a citywide inclusive sanitation program that will see 30,000 home owners around 5 divisions in Kampala benefit from improved sanitation loans.
The partnership was launched via a virtual engagement.
Commenting on the partnership, the bank’s Managing Director Michael Mugabi noted: “As a financial institution, we seek to work with different stakeholders in the sector to provide an improved customer value proposition that will enable all Ugandans both low and high income earners access improved sanitation loans around 5 divisions in Kampala.”
He added that the bank recognizes that Uganda is one of the countries in Africa with high urbanisation rates.
‘’For over 50 years now, Housing Finance Bank has continued to provide viable solutions that “enable home ownership for all Ugandans and together, we shall leverage on all available platforms to ensure decent living and home ownership.” Mugabi added.
In her remarks, the country director Water for People, Cate Zziwa Nimanya, asserted that good sanitation is a responsibility that calls for ‘our effort and together we make a lasting contribution in improving our ways of life and well-being’.
“There is a need for sanitation in order to eliminate poverty and enhance well-being in a country. Water for People is therefore honored to be part of this partnership in a bid to empower families who live with a constant burden of uncertainty, stress and fear because of poor living conditions,” she said
Zziwa also thanked financial institutions like Housing Finance Bank which have remained consistent in driving this agenda for all.
Uganda to host WFP Global Fleet Hub, establish unique humanitarian platesPromoting low cost housing
In Uganda, provision of decent low cost housing is promoted through some key intervention areas which include; Housing Microfinance that supports low income earners to undertake incremental micro-home-loans, Vulnerable Group Housing that provides fully subsidized social housing support for vulnerable rural households.
There is also the Market Systems Program that aims at seeking partnerships with private companies to provide and develop inclusive products for all income levels of people especially the low income earners, Urbanization program that is aimed at addressing issues on the New Urban Agenda such as housing, slum upgrading and sustainable environmental management and Housing Finance Bank’s incremental housing facility.
These initiatives would never be possible without good sanitation and hygiene and that is why Housing Finance Bank’s partnership with Water for People is a practical initiative, in heeding to the dire need of decent living for sustainable economic growth and development.
About Housing Finance Bank
First incorporated as a private limited company in 1967 as Housing Finance Company Uganda Limited carrying out business as a non-banking credit institution providing mortgage finance and also accepting savings deposits from the public. HFB became licensed and regulated by Bank of Uganda as a commercial Bank in 2007 to carry on business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited.
