Partnerships Best Way to Get Affordable Housing, Says Bank

By Jonathan Adengo

Kampala — Stanbic Bank has called for partnerships between leading Ugandan property developers and local authorities to create more affordable housing options for Ugandans and enhancing knowledge awareness about home loans and mortgages.

Speaking during a forum that brought together the different players in the real estate sector, Mr Shem Kakembo, Stanbic Bank head of personal markets, said while private developers and banks can take the lead to initiate housing projects, there is a need for developers to liaise with the local authorities and government to jointly provide social infrastructure such as roads, social amenities like piped water and electricity in areas further away from the city.

He said this will make these areas attractive and accessible to the target market.