Housing Finance Bank (HFB) and the Uganda Energy Credit Capitalization Company (UECCC) have today launched a groundbreaking partnership to accelerate the adoption of renewable energy solutions in Uganda. With a UGX 5 billion credit facility dedicated to financing solar energy, biogas, and other sustainable energy solutions, this collaboration will drive Uganda’s energy transition and expand affordable electricity access for businesses, households, and off-grid communities.
The partnership aligns with Uganda’s Vision 2040, which prioritizes increasing energy access as a key driver of economic transformation. It also contributes to Sustainable Development Goal 7 (Affordable and Clean Energy) and Sustainable Development Goal 13 (Climate Action) by providing financial support to businesses and individuals investing in clean energy solutions.
Speaking at the launch event, the Managing Director of Housing Finance Bank, Mr. Michael K. Mugabi reaffirmed the bank’s commitment to green financing, saying:
“As Housing Finance Bank, we believe that sustainable energy financing is not just a business opportunity—it is a responsibility. This partnership with UECCC is part of our long-term strategy to provide innovative financial solutions that support Uganda’s transition to renewable energy. Through this UGX 5 billion facility, we are empowering businesses, households, and off-grid communities to access clean and affordable energy solutions that will transform livelihoods and drive economic growth.”
The Managing Director of UECCC, Mr. Roy Nyamutale Baguma highlighted the significance of the collaboration in advancing Uganda’s energy financing landscape, stating:
“UECCC is dedicated to catalyzing private sector investments in renewable energy. By working with financial institutions like Housing Finance Bank, we are breaking barriers that have long hindered access to financing for clean energy projects. This partnership will not only provide affordable loans but also create employment opportunities and improve energy security in Uganda.”
Speaking at the launch, @PBayenda , our Head of Products, highlighted that the bank provides these solutions for individuals, SMEs, and households, with special packages for women. “The goal is to create a sustainable future for Uganda, reducing reliance on harmful energy sources… pic.twitter.com/WRr48PaIpo
— Housing Finance Bank (@housingfinanceU) February 18, 2025
With Uganda’s solar energy potential estimated at 5.1 kWh/m²/day, among the highest in Africa, and the renewable energy market projected to grow at a CAGR of 8.4% globally, this initiative places Uganda at the forefront of green energy financing. The UGX 5 billion credit facility will be available to businesses and individuals seeking financing for solar systems, biogas solutions, and other sustainable energy technologies, ultimately reducing dependence on biomass and fossil fuels.
About Housing Finance Bank
Housing Finance Bank focuses on making banking easy and enabling customers to be in control of their financial and banking needs. First incorporated as a private limited company in 1967 as Housing Finance Company Uganda Limited, carrying out business as a non-banking credit institution, providing mortgage finance and accepting savings deposits from the public. Subsequently, the Bank became licensed and regulated by the Bank of Uganda as a Commercial Bank in 2007 to carry on the business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited. For more information, please visit our website at www.housingfinance.co.ug.
About Uganda Energy Credit Capitalisation Company (UECCC)
The Uganda Energy Credit Capitalisation Company (UECCC) is a Government institution set up under the Companies Act as a Company Limited by Guarantee and not having share capital. It was operationalised in 2009 primarily to facilitate investments in Uganda’s Renewable Energy Sector, with a particular focus on enabling private sector participation.
The Company’s main objective is to provide financial, technical and other support for Renewable Energy Projects and Programmes.
UECCC is also the administrator of the Uganda Energy Capitalisation Trust (“The Trust”) which is a framework for pooling resources from Government and Development Partners for the development of Renewable Energy Projects.
