Sustainable Banking⏤ Sustainability Standards And Certification Initiative (SSCI) admits Uganda’s Housing Finance Bank  Housing Finance Bank’s Managing Director, Michael Mugabi, says, the certification is a testament to the bank’s unwavering commitment to building a sustainable future for the bank’s customers, employees, and communities, through responsible business practices and alignment with global Sustainable Development Goals and national development agenda”.

Housing Finance Bank (HFB) has received a Certificate of Acceptance to the Sustainability Standards and Certification Initiative (SSCI) during the 10th Global Sustainable Finance Conference recently held in Karlsruhe, Germany. 

According to HFB, “this recognition underscores HFB’s steadfast dedication to sustainability, responsible business practices and alignment with global Sustainable Development Goals and national development agenda”.

The Certificate of Acceptance was received by Board Chairperson David G. Opiokello on behalf of the Bank in a delegation he led, which comprised the Managing Director, Micheal Mugabi, and other executive team members. The delegation was joined by esteemed dignitaries, including Uganda’s Ambassador to Germany, H.E. Kuteesa, The Lord Mayor of Karlsruhe, Dr. Frank Mentrup, Mr. Arshad Rab, CEO of the European Organization for Sustainable Development, and the Chairman of the International Council of Sustainability Standards.

David G. Opiokello, Board Chairperson, HFB expressed his enthusiasm for the recognition, stating, “At Housing Finance Bank, our vision for a sustainable future goes beyond words; it is a tangible commitment that we have engrained within our new strategic plan to shape our solutions to customers and stakeholder activities at large. This recognition solidifies our unwavering commitment to promoting sustainable financial independence and transforming homeownership dreams into reality for our fellow Ugandans while being resolute in ensuring a better future for generations to come.”

Micheal Mugabi, HFB Managing Director and a driving force behind the Bank’s sustainability initiatives, also shared his thoughts on the accomplishment. “This certification is a testament to our unwavering commitment to building a sustainable future for our customers, employees, and communities in a process that started earlier this year. Sustainability is at the core of our business strategy, and we firmly believe that responsible banking is not only vital for the well-being of our society but also crucial for the long-term success of our institution. This recognition encourages us to continue leading the way in sustainable finance, innovate for a greener tomorrow, and empower Ugandans with the tools and solutions they need to achieve their housing and financial goals.”

The bank, said, it began its journey towards becoming a sustainability-certified bank earlier this year, by proactively subjecting its Environmental, Social, and Governance practices to a rigorous benchmarking process and comprehensive evaluation with the overall aim of providing sustainable financing to enable homeownership across all segments of the population. This includes low-income earners and aspiring first-time owners, at a time when Uganda’s housing deficit is estimated at 2.4 million houses, and growing at a rate of 200,000 housing units per annum. 

“As Housing Finance Bank continues its journey towards a more sustainable future, it remains steadfast in fostering positive change and contributing to the betterment of Ugandan society by encouraging the transition to a climate-neutral, resource-efficient, and resilient economy and aiding social inclusion,” the bank concluded in a statement.