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Uganda Development Bank

Government fund

Kampala · Seed–Growth · 10 people tracked

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Investment thesis

UDB is Uganda's national Development Finance Institution focused on accelerating the country's socio-economic development. It funds private-sector projects that show potential to generate high socio-economic value, including job creation, increased production output, tax contributions, and foreign exchange generation. The Bank prioritizes projects that are both financially viable and capable of delivering tangible development outcomes, while operating under principles of good corporate governance and a zero-tolerance stance on fraud, bribery, and corruption.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Growth
HQ
Kampala, UG
Instruments
Debt

Team · 10 people

from the firm's website
Dr. Patricia Adongo Ojangole· Managing Director
Denis Ochieng· Director Finance and Business Operations
Dr. Francis Mwesigye· Director, Economic Research & Knowledge Management / Chief Economist
Joshua Allan Mwesiga· Director Strategy & Corporate Affairs
Mahamoud Andama· Director Investments

Holds FCCA and MBA qualifications and leads the bank's investments function.

Peter Mukuru· Director Business Technology
Samuel Edem-Maitum· Director Credit
Sophie Nakandi· Company Secretary
Stephen Hamya· Chief Internal Auditor
Sylver Kyeyune· Director Risk

Frequently asked questions

What stage does Uganda Development Bank invest at?
Uganda Development Bank invests at the Seed, Series A, Series B, Series C, Growth stages.
What sectors does Uganda Development Bank focus on?
Uganda Development Bank focuses on Advanced Manufacturing, AgTech, EdTech, FoodTech, Healthtech, Impact & Social Good, Travel & Hospitality.
Where is Uganda Development Bank located?
Uganda Development Bank is headquartered in Kampala, UG.

Media · Podcasts & interviews

from their channel

UDB Webinar; Impact of the US-Israel-Iran conflict on Uganda's Economy

Uganda Development Bank Limited

Inside the RISE Agrifood Mission

Uganda Development Bank Limited

Celebrating Partners In Development | Tropical Honey Ltd

Uganda Development Bank Limited

RISE Multi-Stakeholder Forum | Shaping Uganda's High-Tech Future | Day 3

Uganda Development Bank Limited

RISE Multi-Stakeholder Forum | Shaping Uganda's High-Tech Future | Day 2

Uganda Development Bank Limited

Day One Highlights: The RISE Uganda Multi-Stakeholder Forum

Uganda Development Bank Limited

Images

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