Uganda is set to experience a transformative shift in its energy sector with the launch of a groundbreaking partnership between Housing Finance Bank (HFB) and the Uganda Energy Credit Capitalization Company (UECCC). The collaboration introduces a UGX 5 billion credit facility dedicated to accelerating the adoption of renewable energy solutions such as solar energy, biogas, and other sustainable energy technologies.
This initiative is poised to expand affordable electricity access for businesses, households, and off-grid communities, playing a critical role in Uganda’s energy transition. The partnership directly contributes to Uganda’s Vision 2040, which places a strong emphasis on increasing energy access as a key driver of economic transformation.
It also aligns with Sustainable Development Goal 7 (Affordable and Clean Energy) and SDG 13 (Climate Action) by providing financial support to individuals and businesses investing in clean energy solutions.
Michael K. Mugabi, Managing Director of Housing Finance Bank, emphasized the bank’s commitment to green financing during the launch event: “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.”
Roy Nyamutale Baguma, Managing Director of UECCC, further highlighted the partnership’s impact on Uganda’s energy financing landscape: “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.”
With Uganda’s solar energy potential ranked among the highest in Africa at 5.1 kWh/m²/day, this initiative positions the country as a leader in green energy financing. The renewable energy market is projected to grow globally at a compound annual growth rate (CAGR) of 8.4%, making the UGX 5 billion credit facility an essential catalyst for growth in Uganda’s renewable energy sector.
Businesses and individuals seeking financing for solar systems, biogas solutions, and other sustainable energy technologies will now have access to affordable loans, reducing the nation’s reliance on biomass and fossil fuels.
