DTB Uganda, Universal Multipurpose Enterprise partner to boost housing finance

Diamond Trust Bank Uganda (DTB) and Universal Multipurpose Enterprises Limited have joined forces through a Memorandum of Understanding (MoU) to expand access to housing finance solutions in Uganda. The partnership, announced at DTB's head office in Kampala, is designed to make acquiring property more affordable and attainable for Ugandans.

Godfrey Sebaana, Managing Director of DTB Uganda, highlighted the bank's dedication to creating practical financial solutions. "Today's announcement formalizes a shared commitment between our two institutions to make home ownership more accessible for Ugandans," Sebaana stated. He emphasized that the partnership will streamline the home-buying process, guiding families from their initial decision to receiving keys.

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Today’s announcement formalises a shared commitment between our two institutions to make home ownership more accessible for Ugandans. Through this partnership, DTB and Universal will work together to provide customers with better, more structured access to mortgage financing and a smoother home-buying journey, from the moment a family decides they want a home of their own to the day they receive the keys.

Sebaana also pointed to Uganda's substantial housing deficit, estimated at over 2.4 million units, with demand growing annually. He sees this challenge as an opportunity for institutions like DTB and Universal Enterprises to offer sustainable solutions. "Partnerships such as this one are essential if we are to make quality housing more accessible to Ugandans," he added.

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This presents not only a challenge, but also an opportunity for institutions like ours to provide practical, sustainable solutions. Partnerships such as this one are essential if we are to make quality housing more accessible to Ugandans.

Muffaddal Yeolawala, Managing Director of Universal Multipurpose Enterprises Limited, echoed this sentiment, calling the partnership a crucial step in overcoming barriers to home ownership. "At Universal, we are committed to making home ownership more accessible for Ugandans," Yeolawala said. He believes the collaboration will enhance the property acquisition experience and contribute to the growth of Uganda's housing sector.

The initiative aligns with national goals to increase decent housing availability, encourage real estate investment, and boost economic activity through property development and mortgage financing. DTB's recent Mortgage Finance solution, offering structured, longer-term financing for developers and tailored products for individuals, provides a foundation for this expanded effort.

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At Universal, we are committed to making home ownership more accessible for Ugandans. Our partnership with DTB Uganda will enable us to offer customers a more seamless property acquisition experience while contributing to the growth of Uganda’s housing sector.