Soroti, Uganda | Housing Finance Bank has today opened a new branch in Soroti, expanding its footprint in Eastern Uganda and strengthening efforts to improve access to financial services in the Teso Sub-region.
The launch, presided over by Vice President Jessica Alupo, drew leaders, business owners, farmers, and residents who welcomed the Bank’s entry as a timely boost to the region’s growing economic activity.
Speaking at the ceremony, Alupo said the establishment of the Soroti branch reflects the government’s broader commitment to deepening financial inclusion and bringing essential services closer to communities.
“This is a strategic intervention that will go a long way in improving and enhancing the accessibility of financial services in this Teso Sub-region,” she said. “I call upon all our people to take advantage of the products and services available here to improve their livelihoods.”
Alupo noted that Uganda’s journey toward achieving its 2030 development targets requires strong collaboration between government and financial institutions.
“As we approach 2030, we must deepen stakeholder engagement. The banking sector remains one of the most consequential partners in that journey,” she said. “Banks are not only lenders—they are enablers of dignity. They help citizens dream responsibly and build sustainably.”
Highlighting the economic profile of the region, Alupo underscored that agriculture remains the backbone of Teso’s economy, with citrus, grain, livestock, fisheries, and poultry sustaining most households.
She said Soroti is emerging as a strategic agro-industrial hub, supported by government infrastructure and growing private-sector investment.
“This branch is an economic rebalancing tool. It brings services closer to the people, reduces exclusion, and amplifies regional momentum,” she added.
The Vice President welcomed Housing Finance Bank’s decision to expand to Soroti and encouraged the institution to continue innovating and serving communities with integrity.
“Your presence here shows that banking is no longer just a service—it is a driver of socio-economic change,” she said. “Maintain this path. Continue investing in communities and supporting long-term development.”
She further urged the Bank to consider opening another branch in Katakwi to expand access to rural populations.
Housing Finance Bank Managing Director Michael Mugabi said the Soroti branch is tailored to serve the region’s rapidly expanding economic ecosystem.
“Our goal is simple—empower individuals and businesses with the financial tools they need to grow,” Mugabi said. “This branch brings together convenience, innovation, and customer-focused solutions tailored to the realities of this region.”
He added that the bank is prioritizing farmers, SMEs, and youth enterprises, which he described as key drivers of Teso’s economic transformation.
The branch will offer savings and current accounts, personal and business loans, mortgages, investment products, and advisory services. Mugabi emphasized that digital banking platforms will enhance convenience and make transactions easier for customers across the region.
The Soroti branch brings Housing Finance Bank’s national network to 23 branches, reinforcing its continued expansion into high-growth regions.
Residents and business owners at the launch expressed optimism that the new branch will attract more investment, reduce travel costs for banking services, and support enterprise development.
