Finance Minister Henry Musasizi has commended Uganda Development Bank (UDB) for its strong financial performance, while urging the lender to ensure its financing translates into jobs, increased production and tangible economic growth.
Minister Musasizi, together with Aminah Mukalazi, praised the UDB board and management, led by board chairman Geoffrey T. Kihuguru, for the bank’s 2025 performance on Thursday.
UDB reported Shs63.4 billion in profit after tax, Shs2.26 trillion in assets and Shs1.77 trillion in gross loans during the year.
The bank disbursed Shs502.2 billion to 112,392 borrowers, with its interventions reportedly contributing to the creation of 69,202 jobs.
However, Minister Musasizi said the bank’s performance should not only be assessed through financial indicators but also by the measurable impact of its lending on the economy.
He urged UDB to prioritise financing that creates jobs, strengthens productive enterprises, increases production and promotes inclusive economic growth.
“Every shilling deployed must translate into jobs, stronger businesses, increased production, exports and Uganda’s economic transformation,” Musasizi said.
He also called for affordable and patient credit for manufacturers, small and medium enterprises and other productive businesses, noting that government is pursuing single-digit interest rates to reduce the cost of capital and improve Uganda’s industrial competitiveness.
Musasizi further urged the bank to strengthen project appraisal, support priority sectors and diversify its sources of funding to expand its capacity to finance development.
UDB board chairman Geoffrey T. Kihuguru said the bank was adopting a more proactive approach focused on developing bankable projects, de-risking investments, supporting enterprises and mobilising private capital.
The approach, he said, is intended to ensure UDB plays a stronger role in driving private-sector growth and Uganda’s economic transformation.
