Kampala, Uganda | ENTEBBENEWS.NET | Housing Finance Bank joined residents, business partners and other stakeholders at Akright City on Entebbe Road to mark the development’s 20th anniversary through a marathon celebrating two decades of planned urban growth and its contribution to Uganda’s transformation.
Held on July 14, under the theme, “Celebrating 20 Years of Organized City Development as a Driver of the Ten Fold Growth Strategy, anchored on Agro Industrialisation, Tourism Development, Mineral Based Industrialisation and Science, Technology and Innovation (ATMS),” the marathon brought together residents, businesses, development partners and the wider community to commemorate Akright City’s journey.
Since its establishment in 2006, Akright City has evolved from an undeveloped area into one of Uganda’s leading planned residential and commercial developments. What began with about 500 people has grown into a community of more than 15,000 residents, with an estimated investment value of nearly US$500 million.
Hellen Musubika Kanobere, the acting head of Mortgages and Consumer Banking at Housing Finance Bank, said the bank’s participation reflects its commitment to supporting sustainable communities and expanding access to quality housing.
“At Housing Finance Bank, we believe that housing goes beyond providing shelter. It is about creating communities where people can live, work and thrive. Akright City demonstrates how organised urban development can transform lives, stimulate economic growth and create opportunities for generations to come. We are proud to be part of this journey and continue supporting Ugandans in achieving their homeownership aspirations,” she said.
Over the past 20 years, Akright City has expanded across approximately 1,700 acres and now comprises more than 1,500 residential homes, commercial developments, industrial facilities, schools, recreational spaces and essential community services. The development has also created employment opportunities in construction, hospitality, retail and education.
Housing Finance Bank provides a range of housing finance solutions, including home loans and commercial mortgages. It also offers the Zimba Mpola Mpola Incremental Housing Loan, which allows customers to build their homes in phases, reducing the burden of a large upfront investment. Flexible mortgage repayment periods and competitive financing options are also designed to accommodate customers across different income levels.
With Uganda facing a housing deficit estimated at more than 2.4 million units amid rapid urbanisation, Housing Finance Bank says it will continue working with government, developers and other stakeholders to expand access to affordable housing and support the growth of sustainable communities.
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