SOROTI, UGANDA — Housing Finance Bank has officially opened a new branch in Soroti District, marking a major step in expanding reliable and inclusive banking services across the Teso Sub-region. The branch, located at Plot 67 Gweri Road on Soroti Main Street, brings the bank’s footprint to 22 branches nationwide and reinforces its commitment to deepening financial inclusion, promoting enterprise growth, and supporting community development.
At the launch ceremony, Vice President Jessica Alupo hailed the bank’s expansion into Soroti as a strategic intervention aligned with government priorities to bring services closer to the people and boost Uganda’s money economy.
“The establishment of this bank is a clear demonstration of Government’s effort to bring services nearer to the people,” Alupo said. “It will go a long way in improving and enhancing the accessibility of financial services in this Teso Sub-region.”
She encouraged the people of Teso to take full advantage of the bank’s financial products to improve their livelihoods, emphasizing the central role of the banking sector in Uganda’s journey toward achieving its 2030 targets.
Alupo noted that agriculture remains the backbone of the Teso economy with citrus, grain, livestock, fisheries, and poultry supporting most households and praised Soroti’s emergence as a strategic agro-industrial hub. She described the new branch as an economic rebalancing tool that reduces financial exclusion and strengthens regional momentum.
“Uganda needs institutions that think long-term and serve both rural and urban populations,” she said, expressing hope that Housing Finance Bank would soon extend its services to Katakwi District as well.
The Vice President also highlighted national economic initiatives such as the Small Business Recovery Fund, encouraging MSMEs to access affordable financing through Housing Finance Bank to rebuild and expand after the impact of COVID-19.
Representing the Bank of Uganda, Hannington Wasswa, Director of Commercial Banking, commended the bank for its strategic expansion and affirmed the continued importance of physical branches for SMEs, farmers, and households that depend on personalized guidance. He pledged the Central Bank’s commitment to fostering a strong, inclusive, and well-regulated financial system.
Housing Finance Bank’s Managing Director, Michael K. Mugabi, reaffirmed the institution’s mission to empower communities through innovative, customer-focused financial solutions.
“The opening of our Soroti branch is our commitment to progress,” Mugabi stated. “We are here to empower individuals, strengthen businesses, and support the community with solutions that respond to their needs.”
The new branch offers a full range of services, including savings and current accounts, mortgages, personal and business loans, agricultural credit facilities, investment opportunities, and advisory support. Digital banking platforms will complement in-branch services, enabling customers to transact conveniently from anywhere.
In line with its Tiny Forest Initiative, the bank distributed 1,500 tree seedlings during the launch to promote environmental sustainability and climate resilience—part of its broader vision to balance economic growth with ecological stewardship.
Local leaders including Soroti Resident City Commissioner John Michael Okurut, Soroti City Mayor Joshua Edogu, and representatives from Kumi, Serere, and other districts attended the ceremony.
The Soroti launch comes just a week after the bank opened a branch in Nansana, one of Kampala’s fastest-growing business hubs, underscoring Housing Finance Bank’s ongoing commitment to financing a sustainable future, fostering enterprise development, and enabling home ownership across Uganda.
