The Housing Finance Bank launches a progressive mortgage loan called “Zimba Mpola Mpola”


The Housing Finance Bank launched the Incremental Housing Loan to provide opportunities for Ugandans to access affordable home ownership and financial independence.

Uganda’s housing deficit stands at 2.4 million housing units and the Housing Finance Bank, a fully government-owned commercial bank, champions Agenda 11.1 of the Sustainable Development Goals (SDGs); ensure that by 2030, all Ugandans have access to adequate, safe and affordable housing, basic services and slum upgrading.

The Bank, through its strategic pillar of developing sustainable business by facilitating the financing of the purchase, construction, completion and renovation of properties, has designed a product targeting all Ugandans, which they are salaried or in the informal sector, called the incremental housing loan, in a 4-month campaign. double Zimba Mpola Mpola.

According to Mr. Michael Mugabi, Managing Director of Housing Finance Bank, Housing Finance Bank now controls about 60% of all Ugandan mortgage accounts. This new product provides an opportunity for more Ugandans to realize their dream of home ownership through HFB, the lead mortgage partner.

“We are fully committed to closing the housing deficit in the country and we are always innovating to achieve this. We have set up 100% financing to enable the purchase or completion of a residential property, forged partnerships with social housing developers, opened the war on flexible loan repayments and finally launched to the public, the financing of incremental real estate projects. All of the above initiatives aim to close the current gap of 2.1 million housing units,” Mugabi said.

“We thank our client, Mr. Mandela, who invited us to his home to break the fast together here in Bukalango as a sign of our lifelong commitment to fulfilling his and Ugandans’ dream of home ownership. With the Incremental Housing Loan, step-by-step construction is now a possibility for everyone. Whether you are an employee or a businessman, this product allows you to “kuZimba Mpola Mpola”, he added.

Thanks to this innovation, anyone can now easily access Shs 200,000 to Shs 50 million in less than 3 days and repayable in 3 years for all additional house building needs such as land purchase, construction of additional houses and home improvement needs such as hydraulic installations, construction of toilets, painting, paving among others.

Every Ugandan is eligible for this loan, even those who are not Housing Finance Bank customers i.e. if you have these requirements.

  • Valid ID
  • CRB financial card
  • Proof of reliable source of income
  • Guarantee in the form of land titles, sales contracts, machinery and movable property
  • In case of construction; a house plan for titled land and development fee receipts for kabaka land

The product has been tested and there are over 500 beneficiaries through collaboration with the Boda Boda association, market vendors, primary school teachers, MSMEs and other Ugandans working in the related trade and every customer who obtains this product will receive a tree. This is in line with Sustainable Development Goal 11 which is to foster sustainable cities and communities.

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