HFB lauded for promoting agriculture, small business recovery
The Bank was honoured by the Bank of Uganda with the Agricultural Credit Facility (ACF) Award and the Small Business Recovery Fund (SBRF) Award.
Richard Byrauguba(3rd from R), the Executive Director Finance, BoU, hands over the award to Housing Finance Bank staff led by the executive director, Micheal Mugabi. (Photo by Simon Okitela)
By Simon Okitela
Journalists @New Vision
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Housing Finance Bank has been rewarded with two prestigious national awards in recognition of its pivotal role in strengthening Uganda’s economic resilience.
The Bank was honoured by the Bank of Uganda with the Agricultural Credit Facility (ACF) Award and the Small Business Recovery Fund (SBRF) Award.
The awards were presented last week during the Second Award Ceremony of the Agricultural Credit Facility and the inaugural ceremony for the Small Business Recovery Fund held at Sheraton Hotel.
The bank received the Agricultural Credit Facility (ACF) Award in recognition of its strong participation in the government-led initiative aimed at enhancing agricultural productivity in Uganda.
Through this collaboration, the bank has played a pivotal role in advancing financial inclusion for small-scale farmers who constitute 80% of the country’s agricultural sector empowering them to transition from subsistence farming to more sustainable, commercial agricultural practices.
Meanwhile, the Small Business Recovery Fund (SBRF) Award, was in recognition for its steadfast commitment to revitalizing Uganda’s small business sector.
“Receiving these awards is a testament to our unwavering commitment to supporting Uganda’s key economic drivers; agriculture and small businesses. Over the years, HFB has supported over 1,700 MSMEs and contributed to the creation of more than 250,000 jobs.
We are proud to be part of initiatives that not only provide access to affordable financing but also empower entrepreneurs and farmers to scale their operations, create jobs, and build resilient communities,” Angela Ndawula, the Head of Business and Institutional Banking explained.
According to the latest performance report on the Fund, Micro, Small, and Medium Enterprises (MSMEs) account for 93% of the total beneficiaries.
Evelyn Anite, the Minister of State Privatization and Investment, applauded the achievements of participating banks and the efforts of the Bank of Uganda in spearheading these initiatives.
“I commend the Bank of Uganda, for organizing this awards ceremony to recognize top-performing banks in the ACF and SBRF. I was happy to learn that the ACF capital has grown from Sh330b to Sh1.2 trillion, significantly expanding access to finance for agriculture,” Anite added.