UDB opens Bunyoro regional office, investors urged to take advantage

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The Uganda Development Bank (UDB) has launched the Bunyoro regional office in Hoima city to boost financial activities in the oil-rich Albertine region. 

While officiating at the launch of UDB at Kyaruhanga Road in Hoima city on November 26, 2025, Bunyoro affairs state minister Jennifer Kacha Namuyangu encouraged investors in the region to take advantage of the Uganda Development Bank to expand their businesses.

''Now that we have a regional UDB bank, I am optimistic that we shall have more investors coming to the city and in this region to establish enterprises. The youth and graduates are going to get ready jobs [in the oil sector] due to the use of local content," Namuyangu said.

Premier Byakutaga with UDB officials at the launch of the Bunyoro regional office at Kyaruhanga road in Hoima City. (Photo by Andrew Musinguzi)

According to the minister, Bunyoro has several developments happening, including oil and gas activities in the Albertine graben. She added that more money is needed to develop the sector, and UDB will be on hand to bankroll the projects.

''We have many opportunities in this region, like the Kabalega International Airport, oil and gas exploration and hosting of the African Cup of Nations in Hoima city. These opportunities should be tapped to the maximum," Namuyangu said.

The region, she said, is also a tourism and commercial agriculture hub, but people have been lacking money to expand their businesses.

She says when people invest in various sectors, they create jobs. She, therefore, urged the youth to invest in small and medium-sized enterprises aimed at generating income at the household level.

Driving agriculture and business growth

UDB managing director Dr Patricia Adongo Ojangole said the Bunyoro branch will empower farmers to move from subsistence to commercial level, leading to their prosperity. She added that the branch will also enable small businesses to grow into engines of employment, it will give a chance to the youths and women to have the tools to turn ideas into enterprises and ensure that oil and gas opportunities are created for many people.

''Apart from financial transactions, our bank will open other opportunities in this region and market the existing products. We need to remain prepared for other business ventures in the city. These developments will empower both female and male youth in economic activities, networking with others for wealth creation," Adongo said.

Bunyoro Kitara Kingdom Prime Minister Andrew Byakutaga said he hopes that the investments will increase, hence creating more jobs for the people of Bunyoro.

''My prayer is that the youth get awakened to these opportunities coming to our region. I appeal to the business community to invest heavily using the money borrowed from UDB," Byakutaga said.

Meanwhile, the Hoima City Mayor Brian Kaboyo and Hoima East City Division legislator Dr Patrick Mwesigwa Isingoma commended UDB for extending its services to Bunyoro.

''We appeal to all the business community and the youth to take advantage of this regional office to tap resources using affordable and soft loans from the Uganda Development Bank. Now that other opportunities are coming out, we should use the available infrastructural developments in this region to create wealth," Kaboyo said.