KAMPALA — Uganda Development Bank (UDB) has commissioned its new 14-storey head office, UDB Tower, on Hannington Road in Kampala, as the national development finance institution seeks to strengthen its capacity to finance Uganda’s long-term economic transformation.
The facility, located at Plot 22, Hannington Road, was commissioned by Finance Minister Henry Musasizi and State Minister for Privatization.
The new headquarters brings UDB’s head-office operations together in a purpose-built facility equipped with modern workspaces, customer-service facilities, meeting and training rooms, an innovation room, boardroom and upgraded ICT infrastructure.
Speaking at the commissioning, Musasizi said the investment was part of efforts to strengthen national institutions responsible for supporting Uganda’s development priorities.
“Uganda’s next phase of economic transformation requires strong institutions with the capacity to mobilise long-term capital and channel it towards productive investments in agro-industrialisation, tourism development, mineral-based industrialisation, and science, technology and innovation,” Musasizi said.
“UDB occupies a critical place in this national development architecture, connecting our development priorities with the capital and investment required to translate them into tangible economic opportunities for Ugandans,” he added.
Musasizi said strengthening UDB would enable the bank to support investments that expand Uganda’s productive base, create jobs, increase exports and raise household incomes.
“The UDB Tower is therefore more than an investment in physical infrastructure. It is an investment in the institutional capacity Uganda requires to deliver its long-term development ambitions,” he said. “Government expects UDB to continue leveraging its capital, expertise and partnerships to crowd in greater levels of private and development finance into the Ugandan economy.”
UDB Board Chairman Geoffrey T. Kihuguru said the new headquarters should be viewed as part of the institution’s broader responsibility to support Uganda’s development.
“UDB Tower represents more than the growth of an institution. It represents our continued investment in Uganda’s capacity to finance its own development aspirations,” Kihuguru said.
“As the country pursues accelerated economic transformation, UDB must have the institutional strength, governance, talent and infrastructure required to mobilise capital, support productive enterprises and catalyse investments of national significance.”
Kihuguru said the new facility provides an institutional platform suited to the bank’s expanding responsibilities. “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,” he said.
“UDB Tower is part of that long-term institutional investment and reflects our confidence in the future of the Bank and, more importantly, in Uganda’s development journey.”
UDB Managing Director Patricia Ojangole said the commissioning marked an important stage in the bank’s institutional transformation by providing a permanent facility for its staff, operations and partnerships.
“UDB Tower represents a major milestone in our institutional journey. 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,” Ojangole said.
“It also reflects the growth, resilience and ambition of an institution whose responsibility is to deliver meaningful and measurable development impact for Uganda.”
Ojangole said the investment was intended to support the bank’s long-term institutional sustainability and operational efficiency. “As Uganda’s national Development Finance Institution, our mandate requires us to think and invest for the long term,” she said.
“This facility gives UDB a permanent institutional home from which we can continue strengthening our capabilities, serving our clients and partners and supporting investments that contribute to Uganda’s socio-economic transformation.”
UDB said the building incorporates energy-efficiency and environmental features, including a 25-kilowatt solar-power system, modern lighting controls, zoned air-conditioning and systems designed to maximise natural daylight and ventilation.
The building also has a central Building Management System for monitoring and controlling key electrical and mechanical systems.
UDB Tower has approximately 7,806 square metres of gross floor area across 14 floors, including two basement levels. It also includes an auditorium and resource centre intended to support the bank’s development-finance research, engagement and knowledge-sharing activities.
The commissioning marks the bank’s relocation from rented premises to a purpose-built, UDB-owned headquarters as it continues to expand its role in financing productive sectors of the Ugandan economy.