Country
Uganda

Local Project Partner
Housing Finance Bank (HFB)

German Project Partner
Frankfurt School of Finance and Management

Donor
European Investment Bank (EIB)

Duration
13.02.2026 - 28.02.2028

Ugandan female entrepreneurs face challenges in obtaining financing for their businesses and achieving growth. HFB is committed to supporting female entrepreneurs in their economic growth so that they can develop their businesses in a sustainable and profitable manner. Micro, Small, and Medium-sized Enterprises (MSMEs) are a cornerstone of the Ugandan economy and reflect a strong national culture of entrepreneurship. Uganda is among the few countries globally to have reached gender parity in entrepreneurial activity, highlighting the broad-based participation in enterprise creation. MSMEs face persistent operational challenges, including low levels of technology adoption driven by limited digital literacy, weak business linkages, and a high degree of informality. Uganda has a relatively high female labour force participation rate compared to other Sub-Saharan African countries. Women engage actively in business despite less favourable entrepreneurial conditions, including weaker access to knowledge assets, finance, and productive resources. Structural constraints such as limited access to land and credit, combined with restrictive social norms, continue to affect women’s business growth.

In 2007 HFB was licensed and regulated by the Bank of Uganda as a commercial bank under the Financial Institutions Act and transitioned into a public limited liability company under its current name, Housing Finance Bank Limited. Since then, HFB has evolved into a key player in Uganda’s financial sector, with a strong focus on inclusive and sustainable banking. HFB integrates social, economic and environmental considerations into its business operations and practices, reflecting its commitment to responsible finance and long-term development impact. The bank actively pursues impact-driven initiatives in education, innovation and housing, implemented through strategic partnerships with national and international organisations. Women’s economic empowerment is a strategic priority for HFB, aligned with its broader sustainability and inclusion agenda. HFB’s commitment in this area has been formally recognised through the United Nations Development Programme (UNDP) Gender Equality Seal, as well as international awards for excellence in customer service and mortgage lending. This institutional commitment positions HFB as a strong and credible partner for initiatives aimed at strengthening women-led enterprises and advancing inclusive economic development in Uganda. HFB’s engagement with the micro-sector so far is a small segment of its overall financial activities

Tasks
1. Provide customised TA to HFB to improve/increase their outreach to women entrepreneurs
2. Provide capacity building for final beneficiaries (i.e. women owned/led MSMEs) to improve their entrepreneurship skills, vocational skills, financial literacy etc.
3. Ensure compliance with EIB processes and requirements as well as with applicable industry regulation and standards
4. Support communication and visibility actions as well as HFB’s impact reporting capacity