In a bid to elevate the tourism potential of Kasese District, Hon. Godfrey Kabbyanga, the Minister of State in-charge of National Guidance, has called on the Uganda Development Bank (UDB) to play a pivotal role in supporting the sector.
The Minister highlighted Kasese’s wealth of natural attractions, including the renowned Queen Elizabeth National Park, the Rwenzori Mountains National Park, and the celebrated Hot Springs. These unique features have long drawn international tourists, particularly during events like the Tusker Lite Rwenzori Marathon and the Rwenzori Theluji Festival.
Speaking at the UDB’s Annual Press Conference, held at Bwera School of Nursing and Midwifery in Mpondwe-Lhubiriha Town Council, Kabbyanga emphasized that the bank could significantly contribute by providing loans to local entrepreneurs seeking to invest in tourism and related businesses. His remarks pointed to the untapped potential of the region and how financial support could help unlock new opportunities for sustainable growth in the sector.
“The tourism sector in Kasese has immense potential. However, for this potential to be fully realized, local entrepreneurs must be empowered through financial support. Uganda Development Bank has a key role to play in fostering investments that will boost tourism and related industries in the region,” said Kabbyanga.
He also urged UDB to prioritize financial literacy programs to ensure that local businesses could manage their finances effectively and avoid exploitation by unscrupulous money lenders.
The Minister further noted that the development of institutions like the Bwera School of Nursing and Midwifery not only benefits students and the healthcare sector but also has wider economic impacts. The school generates employment, supports local businesses, and contributes to the district’s overall economy. “With increased government and institutional support, we can ensure that these initiatives continue to thrive and positively impact the livelihoods of people in the Rwenzori region,” Kabbyanga added.
Addressing the press, Allan Joshua Mwesigwa, Director of Strategy and Corporate Affairs at UDB, reflected on the bank’s impressive performance in 2024. He revealed that UDB had started funding projects in Kasese, including the Bwera School of Nursing and Midwifery, which has already benefited from the bank’s financial support. Mwesigwa praised the school’s contribution to both education and the local economy, noting that it is a prime example of the type of transformative initiatives the bank seeks to support.
“As part of our new 5-year strategy for 2025-2029, UDB aims to support more transformative projects that leverage regional opportunities and address systemic gaps in key sectors, including tourism,” Mwesigwa explained. The bank’s new strategy aligns with Uganda’s National Development Plan (NDP-IV), emphasizing industrialization, infrastructure development, and the commercialization of innovation.
He also revealed that UDB had earned recognition as the top financial institution in East Africa, having been ranked first at the Africa Bank Awards for 2024. This prestigious accolade reflects the bank’s commitment to improving the quality of life for Ugandans by supporting projects that foster job creation, boost foreign exchange earnings, and contribute to government revenues. “Through our mandate, we aim to deliver significant socio-economic value, including job creation, tax contributions, and foreign exchange generation,” said Mwesigwa.
Dr. Francis Mwesigye, Chief Economist and Director of Research and Knowledge Management at UDB, added that the bank’s support is focused on projects with the potential to bring about sustainable economic transformation. He emphasized that the bank’s role is critical in aligning sector priorities with national development goals, particularly the NDP-IV’s focus on improving household incomes and promoting full economic monetization.
At the event, Dr. Francis Mulekya, the Managing Director of Bwera School of Nursing and Midwifery, shared his experiences with the bank’s support. He encouraged community members to take full advantage of the services offered by UDB to enhance their personal and community development. “The support we received from UDB has been invaluable, and I urge everyone here to embrace this opportunity for growth,” Mulekya said.
In his closing remarks, Minister Kabbyanga reiterated his gratitude for UDB’s continued efforts and stressed the importance of collaboration between the bank, the government, and the people of Kasese. “With your support, we can create a brighter future for the Rwenzori region, a future filled with opportunity, progress, and prosperity,” he concluded.
The event underscored the importance of financial support and strategic investments in boosting Uganda’s tourism sector, particularly in regions like Kasese, which hold great potential for both economic growth and international appeal.
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