In order to meet the demands of Uganda’s robust economic growth projections and the increasing demand for vehicles and equipment across various sectors, Housing Finance Bank has taken proactive steps to foster collaboration among stakeholders in the vehicle and asset financing (VAF) ecosystem.
The Bank recently convened a VAF partners’ forum in Kampala, bringing together key players including CFAO Mobility, MAC East Africa, RentCo, SKENYA Motors, Pacific Diagnostics, Atlas Cargo, Double Q, Babu Motors, Victoria Motors, as well as insurers such as CIC Insurance and SWICO. The objective of the forum was to facilitate dialogue, share industry insights, and explore opportunities for driving socioeconomic growth through enhanced accessibility to vehicle and asset financing solutions.
Led by Mr. Michael K. Mugabi, Managing Director, alongside Ms. Peace K. Ayebazibwe, Executive Director, and Angela Ndawula, Head of Business and Institutional Banking, among other senior executives, the forum served as a platform for comprehensive discussions on the effectiveness of Housing Finance Bank’s VAF solutions within Uganda’s dynamic market.
Peace Ayebazibwe, Executive Director at Housing Finance Bank, emphasized the bank’s commitment to providing mainstream financial solutions beyond its legacy mortgage offerings. She underscored the importance of collaboration with asset vendors and insurers to enhance the delivery and uptake of VAF solutions across various economic and social sectors.
Michael Mugabi, Managing Director, reiterated the significance of partnerships for mutual business prosperity and socioeconomic development, noting Uganda’s positive economic growth outlook as indicative of vast opportunities in the vehicle and asset financing market. He also highlighted the bank’s focus on advancing its Environmental, Social, and Governance agenda through partnerships within eco-friendly technologies and electric vehicle spaces.
Richard Elimu, Group Chief Executive at the Riel Group Africa, commended Housing Finance Bank for its continued support to players in the asset financing sector, emphasizing the importance of understanding the bank’s requirements to ensure a seamless process for customers.
Housing Finance Bank’s commitment to fostering stakeholder engagement underscores its dedication to driving business growth and making a meaningful impact on Uganda’s socioeconomic landscape. Through collaborative efforts, the bank aims to facilitate greater accessibility to vehicle and asset financing solutions, contributing to the nation’s economic prosperity.
