Gov’t to further capitalise UDB for socio-economic transformation-Nabbanja
The Prime Minister described UDB as a strategic institution in the implementation of Uganda's Ten-fold Growth Strategy, the Fourth National Development Plan [NDP IV], and Vision 2040
KAMPALA, February 2, 2026 — Prime Minister Robinah Nabbanja has reaffirmed government’s commitment to strengthening the capital base of the Uganda Development Bank [UDB] to enable the Bank to more effectively deliver on its mandate of accelerating Uganda’s socio-economic transformation through lending to the priority sectors of the economy.
Nabbanja made the remarks while officiating a recent ceremony marking the pass-out of UDB staff who successfully completed a refresher training in patriotic and transformative leadership at the National Leadership Institute [NALI] in Kyankwanzi district.
“As you are aware, government allocated an additional Shs1 trillion to UDB in the current financial year. We recognise the need to further expand the Bank’s loan portfolio and remain committed to strengthening its capital base to enable it to fully deliver on its mandate,” Nabbanja said.
She added that through institutions such as UDB, government aims to build a strong and resilient class of Ugandan entrepreneurs capable of driving sustainable socio-economic transformation.
The Prime Minister described UDB as a strategic institution in the implementation of Uganda’s Ten-fold Growth Strategy, the Fourth National Development Plan [NDP IV], and Vision 2040.
“I commend UDB for prioritising this training for its staff. This commitment reflects your appreciation of the importance of nurturing leaders who are grounded in the values, ideology and vision that guide our country,” she noted.
She further acknowledged UDB’s growing socio-economic impact through job creation, increased tax revenues, foreign exchange generation, and improved enterprise productivity and profitability.
The training programme focused on deepening ideological clarity, strengthening national consciousness, and enhancing leadership capacity to support the effective delivery of UDB’s mandate of financing Uganda’s long-term socio-economic transformation in line with national development priorities.
On her part, UDB Managing Director, Patricia Ojangole, said the training had equipped staff with critical insights that reinforce their understanding of the Bank’s mandate and its role in advancing Uganda’s national transformation agenda.
“The skills and knowledge acquired at NALI have reinvigorated our team as we implement UDB’s new five-year business strategy, which places greater emphasis on structuring, transaction advisory, and crowding in development finance from both local and international sources,” Ojangole said.
She added that the training provided deeper insight into Uganda’s strategic position in the evolving global order and the country’s economic interests.
“UDB remains committed to providing appropriate financial instruments and solutions to strengthen Uganda’s participation and competitiveness in the global economy,” Ojangole stated, reiterating the Bank’s commitment to supporting private sector growth and resilience amid volatile global conditions.
The training comes at a time when UDB is in the second year of implementing its new five-year business strategy, which is anchored on playing a greater role in structuring, transaction advisory, and mobilising development finance from diverse local and international partners to support investment in the country.
The Director of NALI Kyankwanzi, Col. Okei Rukogota, applauded UDB’s leadership for its commitment to ideological grounding and institutional cohesion.
“It is rare to see an institution bring all its staff together for ideological regeneration. We commend UDB’s leadership for this exemplary commitment,” Rukogota said.
In 2024, the Bank’s total assets grew by 7 percent, reaching Shs 1,782 billion, up from Shs 1,668 billion in 2023. This growth was largely supported by additional capital injections from government of Uganda and the accumulation of retained earnings.
The Bank’s loan portfolio also expanded, with net loans and advances to customers increasing by 9 percent from Shs 1,470 billion to Shs 1,532 billion, reflecting the Bank’s continued commitment.
https://thecooperator.news/udb-graduates-first-mbarara-cohort-of-investor-ready-smes/
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