Pride Bank Limited has launched a new structured mortgage product aimed at expanding access to property ownership and real estate investment in Uganda, as demand for affordable and well-organized financing continues to grow.
The Pride Mortgage Loan, introduced in partnership with Bakaima Group, is designed to support homebuyers, commercial property investors, and landowners seeking phased construction financing, as well as individuals looking to unlock equity from existing property.
Announcing the product, Pride Bank officials emphasized that the facility is built to respond directly to gaps in the market.
"In developing this facility, we carefully assessed market demand, customer financing behaviors, and the growth trajectory of Uganda's property sector," said Manager Distribution and Channels, Yusuf Kalumba Kasule.
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"It became evident that there was need for a mortgage solution that balances accessibility with prudent financial management."
He added that the product is structured to deliver both flexibility and discipline.
"This facility provides scale, flexibility, and discipline. Our tiered reducing-balance interest structure, combined with milestone-based disbursement, ensures that customers can grow their property investments responsibly while maintaining financial stability," Kalumba said.
The mortgage offers financing ranging from Shs 30 million to Shs 1 billion, with customers contributing 25 percent of the property value while the bank finances the remaining 75 percent.
According to the bank, this model is intended to reinforce shared responsibility while lowering the entry barrier to property ownership.
Kalumba noted that the phased disbursement approach is central to the product's design.
"Rather than releasing funds in a single tranche, we align disbursements with construction milestones. This ensures effective capital deployment, enhances monitoring, and reduces the risks associated with stalled projects," he explained.
He further stressed the importance of customer contribution in ensuring project success.
"The requirement for a 25 percent customer contribution reinforces ownership and strengthens the financial viability of each project. It ensures that both the customer and the bank are equally committed to successful completion," he said.
The loan is offered on a reducing balance basis, with interest rates ranging between 23.5 percent and 28 percent depending on the loan size.
"Our tiered reducing-balance interest rates are structured to reflect loan size and risk while remaining competitive within the market. Transparency and predictability remain central to our pricing philosophy," Kalumba added.
The facility also incorporates grace periods to accommodate project realities. "We have incorporated grace periods to accommodate the realities of property development and business stabilization. These provisions allow projects to gain momentum before full repayment obligations take effect," he said.
Through the partnership, customers will also access pre-verified land and property opportunities from Bakaima, helping to address longstanding challenges in Uganda's real estate sector.
Speaking at the launch, Bakaima's General Manager for Affordable Housing, Medard Owoyesigire , highlighted the broader significance of the collaboration.
"Today, we are not just launching a partnership--we are unlocking a new pathway to property ownership and real estate investment in Uganda," he said.
He emphasized that the initiative is about more than financing. "For many Ugandans, real estate represents more than an asset. It is security. It is legacy. It is dignity. Yet access to land, housing, and property investment remains fragmented, risky, and often out of reach," Owoyesigyire noted.
He added that the partnership directly addresses these challenges. "Through this partnership, we are bringing together structured opportunity and financing. At Bakaima, we believe that opportunity must be organized, and growth must be inclusive. But opportunity without financing remains out of reach, and financing without structure carries risk. Today, we are bringing both together," he said.
Medard also underscored the practical impact for buyers.
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"Starting today, Ugandans will be able to access verified land and property, secure structured financing tailored to their needs, build homes step by step, and invest in real estate with greater confidence and transparency," he said.
Under the arrangement, customers can acquire titled land with a 25 percent deposit starting from as low as Shs 2.3 million and repay through flexible plans estimated at about Shs 7,000 per day over a period of up to three years.
"This partnership is designed to meet people where they are," Owoyesigyire added. "Whether you are a first-time land buyer, a family building a home in phases, a growing business investing in property, or a developer seeking structured capital, there is now a clear, supported pathway forward."
Pride Bank says the mortgage product is now available across its branches nationwide, positioning the institution to deepen its footprint in structured real estate financing while supporting broader economic growth.
"As we move forward, our focus will remain on responsible lending, customer guidance, and sustainable portfolio growth," Kalumba said.
