Govt injects Shs1 trillion into UDB, backs leadership drive

Prime Minister Rt Hon Robinah Nabbanja poses for a photo with a section of the first cohort of UDB staff.
Kampala, Uganda | THE INDEPENDENT | Prime Minister Robinah Nabbanja has reaffirmed government’s commitment to strengthening the capital base of Uganda Development Bank (UDB), saying sustained funding is critical for the bank to fully execute its mandate of accelerating Uganda’s socio-economic transformation.
Nabbanja made the remarks on Friday while officiating at a ceremony marking the completion of a refresher training in patriotic and transformative leadership by UDB staff at the National Leadership Institute in Kyankwanzi.
She said government had allocated an additional UGX 1 trillion to UDB in the current financial year, underscoring its resolve to expand the bank’s lending capacity and support national development priorities.
The Prime Minister noted that strengthening UDB’s capital base would enable the bank to grow its loan portfolio and play a more effective role in financing productive sectors of the economy.
She said government intends to use institutions such as UDB to nurture a strong class of Ugandan entrepreneurs capable of driving inclusive growth and long-term economic transformation.
Nabbanja described UDB as a strategic pillar in the implementation of the Ten-Fold Growth Strategy, the Fourth National Development Plan and Vision 2040, which aim to expand Uganda’s economy to USD 500 billion by 2040.
She commended the bank for prioritising ideological and leadership training for its staff, saying it demonstrated an appreciation of the values and national vision that guide Uganda’s development agenda.
The Prime Minister also acknowledged the bank’s growing socio-economic impact, citing job creation, increased tax revenues, foreign exchange generation and improved profitability among supported enterprises.
The week-long training programme focused on strengthening ideological clarity, enhancing national consciousness and building leadership capacity to support UDB’s mandate of financing long-term socio-economic transformation in line with government priorities.
UDB Managing Director Patricia Ojangole said the programme had deepened staff understanding of the bank’s role in national development and reinforced commitment to its strategic objectives.
She said the training had reinvigorated the institution as it implements its new five-year business strategy, which places greater emphasis on project structuring, transaction advisory services and mobilising development finance from both domestic and international sources.
Ojangole said participants gained deeper insight into Uganda’s strategic position in the global economic order and the country’s broader economic interests.
She added that UDB remains committed to deploying appropriate financial instruments to strengthen Uganda’s competitiveness globally while supporting private sector resilience amid volatile and uncertain global conditions.
The training coincides with UDB entering the second year of implementing its five-year strategy, which seeks to expand the bank’s role beyond lending into catalytic financing and investment mobilisation.
The Director of the National Leadership Institute, Col. Okei Rukogota, commended UDB’s leadership for its commitment to ideological grounding and institutional cohesion.
He described the decision to train the entire staff as exemplary, noting that few institutions invest collectively in ideological regeneration.
The programme covered national development priorities, political education, the role of financial institutions in building a competitive economy, national security considerations, Uganda’s global positioning and transformative work methods.