UDB wins Global Sustainability Award 2025

KAMPALA - The Uganda Development Bank (UDB) has won the Outstanding Business Sustainability Achievement Award at this year’s Global Sustainable Finance Conference in Germany.

The Sustainable Finance Award 2025 recognised UDB’s success in holistically embracing sustainability across the organisation and demonstrating excellence in delivering impact.

Dr. Patricia Ojangole, UDB’s Managing Director, received the award on Thursday, September 25, during the Global Sustainable Finance Conference, which ran from September 25 to 26 in the city of Karlsruhe in Germany.

According to a recently issued press statement, the Sustainable Finance Awards recognise financial institutions and Presidents/CEOs that have made a significant contribution to the field of sustainable banking and finance.

“The awards provide recognition to financial institutions that have successfully embedded economic, social and environmental sustainability into their organisational culture,” reads part of the statement.

It adds that the awards also honour organisations that have made outstanding contributions in the field of sustainable finance, as well as acknowledging and recognising Presidents/CEOs who have distinguished themselves as leaders in sustainable banking and finance.

“The awards additionally stimulate the interests of financial institutions and other stakeholders in integrating sustainability in their business strategy,” further reads the statement, issued by Sumin Namaganda, UDB’s Senior Manager in charge of Corporate Affairs.

She said that the awards also promote the growth of sustainable financial instruments and markets worldwide, and holistic integration of sustainability in financial institutions.

Namaganda said that the citation announcing the winner of the Outstanding Business Sustainability Achievement Award 2025 described UDB as “a driving force for inclusive and sustainable growth” in Uganda.

“Established as the country’s national development finance institution, the bank plays a critical role in transforming key sectors such as agriculture, industry, infrastructure, and services by providing long-term, patient capital where it is most needed,” reads the citation in part.

It adds that UDB’s impact extends far beyond financial support, since it is about creating opportunities, enhancing food security, boosting manufacturing, and promoting services sector.

Areas of focus

The Award recognised UDB’s success in holistically embracing sustainability across the organisation and demonstrating excellence in delivering impact.

“This award category demands that the performance of the institution is monitored and assessed round the year, and UDB’s commitment to sustainable development, its role in boosting the economy and its ability to grow its balance sheet while ensuring socio-economic outcomes have been exemplary,” said Namaganda.

She added that UDB is also the globally recognised leader in sustainability and a role model Sustainability Certified Financial Institution.

Commenting on the achievement, Dr. Ojangole said, “This is a significant milestone for UDB as it positions the Bank as a key player in creating an inclusive, green, and sustainable Ugandan economy.”

She expressed her appreciation for the award, adding that UDB is honoured to be recognised with the Sustainable Finance Award 2025.

“The Bank remains committed to prioritising and mainstreaming holistic sustainability in its practices, promoting this approach, and inspiring all other stakeholders to raise awareness of sustainable development,” Dr. Ojangole added.

The award conference

The Global Sustainable Finance Conference (GSFC) 2025, now in its 15th year, is a global forum focused on innovating banking and finance for a sustainable world.

The conference distinguishes itself through its exclusive focus on highly practical, implementation-ready and breakthrough solutions rather than general discussions.

Conceived in 2009 in the aftermath of the global financial crisis, the Global Sustainable Finance Conference has been held annually since 2011.

It is one of the oldest and well-established premier international platforms in the world for discussing true sustainable banking and finance, and is very distinctive from general events in the field of sustainability and sustainable banking and finance.

In its initial years, the GSFC focused on sensitising the financial community about sustainable financing. Now in its 15th year, the GSFC has evolved as a forum for developing and sharing solutions to implement true sustainability and combat greenwashing.

The conference now attends to state-of-the-art practical solutions rather than general information, discussions or presentations.

2024 winners

In 2024, the Bank’s Managing Director, Dr. Ojangole, won the Sustainability Leader of the Year Award at the Karlsruhe Sustainable Finance Awards, for the fourth year running.

The Bank was also awarded the Sustainability Standards and Certification Initiative (SSCI) Version 2, Level 5 certification, which is the highest level of the SSCI ratings.

Prior to this, the bank received its initial certification in July 2020. This made it the first sustainability-rated Bank on the continent and one of the first five globally to consistently be rated an A+ institution by the Association of African Development Financial Institutions (AADFI) as a Best Performing development finance institution.

These achievements are a testament to UDB’s strong governance structure for delivering social, economic, and environmental sustainability and taking climate action through its financial and non-financial services.

By excelling in adapting holistic standards and undergoing a rigorous compliance process, the UDB has built a strong organisational capacity in mobilising, lending, and investing funds for high sustainable impact.

About UDB

UDB is the country’s national Development Finance Institution (DFI) with a mandate to accelerate socio-economic development in Uganda through sustainable financial interventions.

Consistent with this mandate, the Bank supports projects within the private sector that demonstrate the potential to deliver high socio-economic value, in terms of job creation, improved production output, tax contribution, and foreign exchange generation, among other outcomes.

These projects fall within the key priority sectors of our economy and are in line with Uganda’s development priorities.

UDB aligns its sector priorities with National Development Plan IV (NDP IV), focusing on Primary Agriculture, Industry (to include agro-industrialisation, manufacturing, knowledge-based industries, and extractives), and Services (health, tourism, and hospitality, education, science, technology, and innovation) and Infrastructure.

Agriculture, agro-industry, and manufacturing constitute about 75% of the Bank’s portfolio in alignment with the government's focus under NDP III and Vision 2040.