Imagine a Uganda where every household, business, and off-grid community has access to affordable, clean energy. Sounds like a dream? Not anymore.
Housing Finance Bank (HFB) and the Uganda Energy Credit Capitalization Company (UECCC) have just turned this vision into reality with a groundbreaking partnership.
Together, they’ve launched a UGX 5 billion credit facility to finance solar energy, biogas, and other sustainable energy solutions. This isn’t just a financial move—it’s a game-changer for Uganda’s energy landscape.
Why This Partnership Matters
Uganda’s energy sector is at a tipping point. With solar energy potential estimated at 5.1 kWh/m²/day—one of the highest in Africa—the country is ripe for a renewable energy revolution.
Yet, access to financing has been a major roadblock. Enter HFB and UECCC. This partnership isn’t just about money; it’s about empowering businesses, households, and off-grid communities to embrace clean energy solutions that are both affordable and sustainable.
The initiative aligns perfectly with Uganda’s Vision 2040, which prioritizes energy access as a cornerstone of economic transformation.
It also supports global sustainability goals, including SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
By reducing reliance on biomass and fossil fuels, this partnership is paving the way for a greener, more resilient Uganda.
What the Leaders Are Saying
At the launch event, Michael K. Mugabi, Managing Director of Housing Finance Bank, emphasized the bank’s commitment to green financing:
“Sustainable energy financing isn’t just a business opportunity—it’s a responsibility. This partnership with UECCC is a strategic step toward providing innovative financial solutions that support Uganda’s transition to renewable energy. Through this UGX 5 billion facility, we’re empowering communities to access clean energy solutions that will transform lives and drive economic growth.”
Roy Nyamutale Baguma, Managing Director of UECCC, echoed this sentiment, highlighting the transformative potential of the collaboration:
“By partnering with financial institutions like Housing Finance Bank, we’re breaking down barriers that have long hindered access to clean energy financing. This initiative will not only provide affordable loans but also create jobs, improve energy security, and accelerate Uganda’s renewable energy adoption.”
Uganda’s Renewable Energy Potential
Uganda’s renewable energy market is booming, with a projected global CAGR of 8.4%.
This partnership positions Uganda as a leader in green energy financing, tapping into the country’s immense solar and biogas potential.
The UGX 5 billion credit facility will be available to businesses and individuals looking to invest in solar systems, biogas solutions, and other sustainable technologies.
The benefits are clear:
- Economic Growth: Access to clean energy will boost productivity, especially in rural and off-grid areas.
- Job Creation: Renewable energy projects will create new employment opportunities across the country.
- Climate Resilience: Reducing carbon emissions and dependence on fossil fuels will strengthen Uganda’s commitment to climate action.
A Transformative Journey Begins
This partnership marks the start of a transformative journey for Uganda. By making clean energy more accessible, HFB and UECCC are not just financing projects—they’re fueling a brighter, more sustainable future.
For businesses and individuals ready to embrace renewable energy, this is your moment.
Whether you’re looking to install solar panels, set up a biogas system, or explore other sustainable solutions, the UGX 5 billion credit facility is here to make it happen.
What’s Next?
The launch of this partnership is just the beginning.
As more Ugandans tap into the credit facility, we can expect to see a ripple effect: more jobs, cleaner energy, and a stronger economy. This is what progress looks like.
If you’re interested in learning more about the UGX 5 billion credit facility or exploring renewable energy financing options, reach out to Housing Finance Bank or UECCC today.
Together, we can power Uganda’s future—one clean energy solution at a time.
