Musasizi Tasks Pride Bank to Focus on Deepening Financial Inclusion

Speaking at the Annual General Meeting of Pride Bank, Finance Minister Henry Musasizi said the Bank should remain aligned with the priorities of Government to grow the economy tenfold and supporting core programmes such as PDM and Emyooga aimed at graduating all Ugandans into the money economy.

The Minister also said Pride Bank should aim at ensuring that Ugandans have access to cheap credit.

He commended the Bank for the growth and transition to the Tier II status, adding that Government will allow the Bank to retain dividends as a form of capitalization to grow organically.  

“We shall support you to mobilize additional capital so that you can deepen financial services,” said Musasizi.

The Chairman Board of Directors, Tumuheirwe Francis requested Government to give more business to the Banks it owns such as Pride Bank and also support in mobilizing concessional financing for capitalization of the Bank.

He said the Bank delivered strong financial results in 2025, adding that profit after tax grew by 41% to Shs 11.55 billion, customer deposits increased by 58% from Shs 178.22 billion to Shs 281.96 billion and total assets expanded by 28% from Shs 448.33 billion to Shs 574.41billion in a single year.

Pride Bank’s Managing Director Veronicah Gladys Namagembe said through the goals of boosting sustainable agriculture value chain, growing sustainable SME’s to drive economic transformation and fostering economic resilience through financial inclusion, the Bank is contributing to Uganda’s tenfold growth strategy.

 The AGM was also attended by the Minister of State for Privatization and Investment, Aminah Mukalazi who reiterated the need for Pride Bank to support more value chains and reach more people at the grassroots especially the youth, women and farmers.