12 February 2013

Uganda: Kampala Has Deficit of 100,000 Housing Units

Photo: Precious Birungi/Newvision
Kampala has a deficit of 100,000 housing units according to finance minister.

Uganda's current housing deficit stands at 500,000 units and Kampala region alone has a deficit of 100,000 units, finance minister Maria Kiwanuka has said.

Kiwanuka said the Government is committed to supporting institutions whose mission is to improve housing and grow per capita income of ordinary Ugandans.

She was speaking at a farewell party for the executive director of operations at Housing Finance Bank, Patrick Kabonera, at the Serena Hotel conference hall last week.

Kabonera joined Housing Finance 40 years ago as a loans officer. He grew through the ranks, holding posts of company secretary, general manager mortgages and executive director development finance/operations, a post he held since 2008.

Kiwanuka said the Government would like to see home grown banks expand their reach to all Ugandans, particularly the unbanked in rural areas.

She hailed Kabonero for his dedication during his years of services at Housing Finance.

Housing Finance managing director Nicholas Okwir said Kabonero was part of a strong and committed management and staff team.

"We are sad to see him go but determined to continue his legacy of serving this nation," he said.

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