KAMPALA, Uganda — A new partnership between Pride Bank Limited and real estate dealers Bakaima aims to make property ownership more accessible for Ugandans through a structured mortgage and construction financing scheme.
The Pride Mortgage Loan, launched Tuesday, targets the country’s growing demand for housing by providing funding for residential and commercial acquisitions, phased construction, and equity release.
Under the new arrangement, Pride Bank will finance 75 percent of a property’s value, with customers providing a 25 percent deposit. For those purchasing titled land through Bakaima, the entry barrier has been lowered to a deposit of 2.3 million shillings, with daily repayment plans of approximately 7,000 shillings over three years.
The facility introduces a phased disbursement model, where funds are released progressively as construction milestones are verified. Officials say this approach is designed to ensure disciplined project management and prevent the common issue of stalled developments.
“This facility provides scale, flexibility, and discipline,” said Kalumba Yusuf Kasule, manager of distribution and channels at Pride Bank. He noted that the tiered reducing-balance interest structure allows customers to grow their investments while maintaining financial stability.
Interest rates for the facility are tiered based on the loan amount:
- 28 percent for loans between 30 million and 100 million shillings.
- 26 percent for loans between 100 million and 200 million shillings.
- 23.5 percent for loans exceeding 200 million shillings.
Reducing the risk
To assist with project stabilization, the bank is offering grace periods of up to 60 days for residential mortgages and 12 months for commercial ventures. The property itself serves as collateral, removing the traditional requirement for third-party guarantors.
Medard Owoyesigire, general manager for affordable housing at Bakaima, said the partnership addresses a critical gap in the Ugandan market where opportunity often lacks the necessary financial structure.
“Opportunity without financing remains out of reach, and financing without structure carries risk,” Owoyesigire said. “Through this partnership, we are bringing both together.”
The launch follows Pride Bank’s transition to Tier II banking status, granted by the Bank of Uganda in November 2025. The new mortgage facility is now available at all branches nationwide.
