By James Alomu

Housing Finance Bank has expanded its footprint in Eastern Uganda with the official opening of its new branch in Soroti, furthering the institution’s commitment to financial inclusion and community development. Situated at Plot 67 Gweri Road on Soroti Main Street, the branch is strategically positioned to serve individuals, farmers, traders, and small businesses across the Teso sub-region.

The Soroti branch becomes the 22nd in the bank’s national network and offers a comprehensive range of financial services, including savings and current accounts, personal and mortgage loans, agricultural financing, business loans, and advisory services. Customers will also benefit from the bank’s digital channels, which provide secure and convenient mobile and online banking solutions.

Speaking during the launch, Housing Finance Bank Managing Director Michael K. Mugabi underscored the importance of the new branch in advancing the bank’s mission of improving access to reliable and affordable financial services.

“The opening of our Soroti branch is our commitment to progress. We are here to empower individuals, strengthen businesses, and support the community with solutions that respond to their needs. Our goal is to make banking accessible, affordable, and transformative for every Ugandan,” Mugabi said. He emphasized that the branch is poised to become a center of financial growth and resilience for the region.

The ceremony was graced by the Vice President of Uganda, Jessica Alupo, who applauded the bank for choosing Soroti as part of its expansion agenda. She described the branch as a strategic catalyst for social and economic transformation, particularly for a region whose economy is anchored in agriculture.

“The establishment of this bank here is a clear demonstration of Government’s effort to bring services nearer to the people. It is a strategic intervention that will improve and enhance the accessibility of financial services in the Teso sub-region,” Alupo said. She encouraged residents to take advantage of the bank’s wide range of financial products to enhance their livelihoods and grow their enterprises.

The Vice President noted that Soroti is rapidly emerging as an agro-industrial hub supported by both government infrastructure and private-sector investment. She commended Housing Finance Bank for its role in shifting banking from a basic service to a driver of social-economic change. Alupo further urged the institution to continue innovating and investing in communities, highlighting that Uganda needs financial institutions that think long-term and serve both urban and rural populations.

As part of the launch activities, Housing Finance Bank distributed 1,500 tree seedlings to promote environmental sustainability in the Teso sub-region. The initiative forms part of the bank’s broader corporate social responsibility efforts and underscores its commitment to supporting climate resilience and community well-being.

The Vice President thanked the bank’s management for their continued service to the people of Uganda, noting that financial institutions are key enablers of national development through financial inclusion, stability, and job creation. She called on local leaders and residents to engage fully with the new branch, understand its programs, and leverage its products for economic empowerment.

With the opening of the Soroti branch, Housing Finance Bank strengthens its presence in Eastern Uganda while reaffirming its dedication to inclusive growth and community centered development. The new branch is expected to play a vital role in supporting commercial agriculture, industry, services, and ICT sectors central to Uganda’s wealth creation goals.