Uganda Development Bank (UDB) has intensified its push to drive inclusive economic growth with the launch of a new regional office in Mbale City, signaling a strategic shift toward bringing development financing closer to businesses in Eastern Uganda.
The newly opened office, located on Masaba Road, is expected to serve as a critical link between the bank and key sub regions including Elgon, Teso, Bukedi, Busoga, and Karamoja. By establishing a physical presence in the region, UDB aims to bridge long standing gaps in access to affordable financing and technical support for enterprises.
The move comes at a time when Eastern Uganda continues to show strong economic potential, particularly in agriculture, yet remains constrained by limited access to patient capital, value addition infrastructure, and modern production technologies.
Speaking at the launch, UDB Managing Director Dr. Patricia Ojangole said the expansion is part of a broader strategy to decentralize the bank’s services and unlock investment opportunities across the country.
She pointed to opportunities in agriculture value chains, transport infrastructure such as rail development, and tourism diversification as key areas where the bank intends to channel support in the region.
Beyond financing, the Mbale office will also focus on providing non financial services, including business advisory and capacity building, to strengthen enterprises and improve their long term sustainability.
Local leaders welcomed the development as a potential turning point for the region’s economy. Mbale District Chairperson Muhammad Mafabi noted that while Eastern Uganda has a strong agricultural base, especially in coffee production, the sector continues to suffer from limited processing capacity, which affects quality and market value.
He observed that many farmers are still unable to fully benefit from their produce due to inadequate access to modern equipment and financing, resulting in the sale of low value or semi processed coffee.
Mafabi expressed optimism that UDB’s presence will not only ease access to affordable credit for farmers and cooperatives, but also equip them with the knowledge and skills needed to improve productivity and competitiveness.
He also called on manufacturers, who often struggle to access long term financing, to take advantage of UDB’s extended loan tenors to expand operations, invest in machinery, and scale up production.
UDB’s expansion to Mbale is part of a wider plan to strengthen its national footprint. Previously operating from Kampala, Gulu, and Hoima, the bank is now rolling out additional regional offices in Arua and Mbarara to enhance efficiency and deepen financial inclusion.
The expansion is backed by strong financial growth, with the bank’s total assets rising by 24 percent to Shs 2.28 trillion in 2025, supported by new funding and government capital contributions.
During the same period, UDB approved 120 projects expected to create more than 33,000 jobs, particularly for young people, while generating trillions of shillings in output, profits, tax revenue, and foreign exchange earnings.
With its Mbale office now operational, UDB is positioning itself not just as a lender, but as a key partner in transforming Eastern Uganda’s economy through targeted investment, enterprise support, and long term development financing.
