Uganda-based Housing Finance Bank
has posted a profit.
Suleiman Asman, Kenya Country Director for Innovations for Poverty Action, moderated a discussion between Jeremy Awori, CEO of Barclays Bank Kenya; Mathias Katamba, Managing Director of the Ugandan Housing Finance Bank
; and Saugata Bandyopadhyay Deputy Managing Director of Customer Services at Tanzania's CRDB Bank.
Other commercial banks, including Stanbic, Housing Finance Bank
, dfcu Bank and Bank of Baroda among others, have followed suit or are planning to do so.
Description : HOUSING FINANCE BANK
OF UGANDA (CONVERSION OF UNDISBURSED BALANCE FROM UGX TO USD)
The minister of housing and physical planning, Jemma Nunu Kumba, on Friday presented a memo to the cabinet, which approved establishment of Housing Finance Bank
, with the initial capital of $200 million on a public-private-partnership (PPP) basis.
M-Cash Uganda and Housing Finance Bank
(HFB) is a joint venture that is seeking to introduce a virtual Bank account scheme that enables customers to send money within Uganda.
Mathias Katamba, Managing Director and CEO of Housing Finance Bank
, also highlighted the importance of responsible lending, adding that savings are also key.
Monthly deductions will be made to the housing revolving fund to be managed by Housing Finance Bank
. The bank will provide the medium to long term mortgages to the members.
India-based Polaris Financial Technology Ltd (POLS.BO), a provider of financial technologies, has announced that it has installed its core banking solution at Housing Finance Bank
Limited in Uganda.
Housing Finance bank
has gained EuroS 13m (about Shs 45bn) to provide to small and medium firms after signing an agreement with the European Investment bank (EIB).
As part of its continued support for investment by companies across East Africa the European Investment Bank today agreed a new UGX 45 billion (EUR 13 million) credit line with Housing Finance Bank
to support investment by local firms in both Ugandan shillings and foreign currency.
The other shareholders include a Nigerian commercial bank and an Indian housing finance bank