Mbale City, March 31, 2026 — Uganda Development Bank (UDB) has opened its Eastern Regional Office in Mbale City to bring development financing services closer to businesses and communities and support agro-industrialisation in the region.
Located on Masaba Road, the new office will serve the Elgon, Teso, Bukedi, Busoga and Karamoja sub-regions, helping enterprises access long-term financing and advisory services in line with UDB’s mandate to support high-impact private sector investments.
Expanding access to development finance
Speaking at the launch, UDB Managing Director Patricia Ojangole said the new office marks an important step in expanding the bank’s reach and supporting Uganda’s economic transformation.
“Our mandate is to spur development through sustainable financing that creates jobs, boosts production and strengthens exports as Uganda works towards growing the economy tenfold by 2040,” Ojangole said.
She noted that the Mbale office is part of UDB’s wider expansion strategy, following operations in Kampala, Gulu and Hoima, with additional regional offices planned for Mbarara and Arua.
Eastern Uganda’s economic potential
Ojangole said Eastern Uganda has strong potential in agriculture, tourism and industry, which the bank aims to unlock through improved access to finance and advisory support.
“Over the last five years, UDB has disbursed more than sh200 billion into nearly 100 projects in Eastern Uganda, supporting businesses that are creating jobs and driving community development,” she said.
Patricia-Ojangole-speaking-at-the-launch-of-a-new-branch-in-Mbale-City
Between 2021 and 2024, UDB-financed projects in the region created and sustained more than 7,000 jobs while contributing to production, tax revenue and foreign exchange earnings.
Strong growth and investment focus
UDB Director of Strategy and Corporate Affairs Joshua Allan Mwesiga said the bank recorded strong growth in 2025, with total assets rising by 24 percent to sh2.28 trillion and the loan portfolio increasing to sh1.77 trillion.
He noted that 60 percent of UDB’s investments were directed to agriculture, agro-industry and manufacturing, reflecting the bank’s focus on the real economy.
“In 2025, UDB disbursed sh502.2 billion and approved 120 projects expected to create more than 33,600 jobs, mainly for the youth,” Mwesiga said.
Leaders welcome new office
Mbale District LCV Chairperson Muhammad Mafabi welcomed the new office, saying it will help businesses access affordable long-term financing of up to 15 years for expansion and value addition.
Mr. Muhammad Mafabi, Chairperson LCV Mbale District
He added that Mbale is a strategic economic gateway with growing industrial activity and cross-border trade potential, supported by developments such as the Sino-Uganda Industrial Park.
UDB Senior Investment Manager for Agriculture Steven Kakonge said the Mbale office will offer financing and advisory services in agriculture, manufacturing, tourism, education and health, with special focus on women and youth.
Mbale City Mayor-Elect Joyce Matuka Kidulu said the new office reflects the city’s growing economic potential and commitment to attracting investment and improving livelihoods.
The Mbale regional office is expected to improve access to finance, support enterprise growth and accelerate job creation across Eastern Uganda.
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