KAMPALA,Uganda: Housing Finance Bank has signed a Memorandum of Understanding (MoU) with Kooki Kingdom, a traditional cultural institution recognized under the Constitution of the Republic of Uganda, marking an important step toward expanding financial access, strengthening local economies, and advancing environmental sustainability in Rakai District.
Kooki Kingdom, headquartered in Rakai District, plays a vital role in mobilizing communities, preserving cultural heritage, and supporting livelihoods across its jurisdiction. Through this partnership, the Bank and the Kingdom are aligning their shared commitment to socio-economic development, financial inclusion, and environmental stewardship, with a focus on bringing formal banking services closer to the people.
Speaking at the MoU signing ceremony, Housing Finance Bank Managing Director, Michael Mugabi, emphasized the importance of working with cultural institutions to deliver inclusive and sustainable development:
“True financial inclusion is not achieved by products alone, but by presence, partnership, and purpose. By working with Kooki Kingdom, we are aligning financial services with the social and cultural structures that people already trust. This partnership is about building local economies, strengthening resilience, and ensuring that growth is inclusive, sustainable, and rooted in the aspirations of the community.”
Central to the MoU is the establishment of accessible and affordable banking services within the Kingdom, beginning with the rollout of a Super-Agent banking model supported by Housing Finance Bank’s newly launched Masaka Branch.
This model will enable residents to open accounts, mobilize savings, access digital payments, and conduct everyday banking transactions within their communities. Over time, the partnership envisions scaling this presence into a contact centre and, ultimately, a fully serviced branch, creating a sustainable financial footprint in Rakai District.
Beyond access to banking services, the partnership emphasizes financial literacy and economic empowerment. Housing Finance Bank will deliver targeted awareness programmes on savings, credit, and digital financial services, while developing customized banking solutions for individuals, households, SMEs, SACCOs, cooperatives, and institutions within the Kingdom. The Bank will also open and manage dedicated Kingdom project accounts to support the smooth implementation of development initiatives and ensure efficient financial management.
Environmental sustainability is a key pillar of the collaboration. In line with the Bank’s Environmental, Social, and Governance (ESG) agenda of planting one million trees by 2027 through the Tiny Forest Initiative, the two parties will jointly implement tree-planting initiatives on 150 acres of land. These efforts will promote environmental conservation, climate resilience, and green growth. Housing Finance Bank will provide seedlings, technical expertise, and community mobilization support, while Kooki Kingdom will provide the land and coordinate local participation.
Under the partnership, Kooki Kingdom will support community engagement and the adoption of formal banking services, working alongside Housing Finance Bank to deepen financial participation across the Kingdom and strengthen the sustainability of Kingdom-led development initiatives.
Welcoming the collaboration, Rt. Hon. Prime Minister Idd Ahmed Kiwanuka highlighted the importance of aligning national development efforts with local initiatives:
“Partnerships like this are critical for translating policy into tangible benefits for our communities. By linking financial services with local leadership and sustainable practices, we are creating a model that will empower households, businesses, and the environment for generations to come.”
The collaboration between Housing Finance Bank and Kooki Kingdom reflects a long-term commitment to inclusive growth, environmental responsibility, and community-led development. By combining financial expertise with cultural leadership, the partnership is expected to unlock new economic opportunities, deepen financial participation, and contribute to more resilient and sustainable communities in Rakai District and beyond.
