KAMPALA – Housing Finance Bank secured two prestigious awards at the World Economic Magazine Awards 2024: Best Mortgage Loan Bank Uganda 2024 and Best Customer Service Bank Uganda 2024. These awards recognize industry disruptors in the global financial marketplace, honoring businesses and thought leaders that excel in client satisfaction.
Housing Finance Bank’s customer-centric approach has yielded impressive results. In 2023, the bank achieved a 99% complaint resolution rate and an 83% customer satisfaction rate, up from 79% in 2022. Its 24/7 call center, responsive social media, and dedicated WhatsApp platform demonstrate commitment to customer experience.
With 57 years of mortgage provision experience, Housing Finance Bank has strengthened its position in the sector. Recognizing housing as crucial to Uganda’s National Development Plan III, the bank drives innovative solutions.
As of December 2023, Housing Finance Bank’s total loan portfolio stood at UGX 414.192 billion, financing over 1,712 homes. Over the last five years, the bank has provided loans to 10,000 homes.
Managing Director Michael K. Mugabi stated, “Our goal is to ensure a sustainable future for all. We’re future-proofing the bank through innovations like home loans and incremental loans.” One such innovation is Zimba Mpola Mpola, an incremental building loan with attractive features: 3-day turnaround, affordable interest rate, and flexible repayment terms.
Uganda’s urbanization rate of 5.2% – one of Africa’s highest – drives housing demand. The bank addresses this need with flexible home loans: long repayment periods, high loan amounts, and competitive interest rates.
Mugabi concluded, “Participating in the World Economic Magazine Awards showcases our commitment to business excellence.” These awards solidify Housing Finance Bank’s position as a leader in Uganda’s financial sector, recognizing dedication to customer satisfaction and innovative mortgage solutions.
