David Bahati, the Chief Guest and Minister of State for Trade, Industry and Cooperatives cuts the ribbon as dfcu Bank opens the Namanve Industrial Park branch
HABARI DAILY I Kampala, Uganda I The launch of a new dfcu Bank branch in Namanve has marked a significant milestone in Uganda’s industrial and financial landscape, underscoring the growing importance of situating banking services within industrial zones to accelerate manufacturing growth and economic transformation.
Set within the bustling Namanve Industrial Park, the official opening of dfcu Bank’s 55th branch signaled strong confidence in Uganda’s industrial future. The facility becomes only the second bank to establish a physical presence inside the park, reflecting a strategic shift toward bringing financial services closer to production centers.
The event was officiated by David Bahati, the Minister of State for Trade, Industry and Cooperatives, and attended by long-standing dfcu customers, business leaders, and policymakers.
Speaking at the ceremony, Bahati, a Certified Public Accountant and a champion of industrialization, congratulated dfcu for aligning its expansion strategy with national development priorities. He noted that Uganda currently operates 12 industrial parks, with plans underway to increase the number to 22 across the country, a move aimed at catalysing regional development and job creation.
1.4 million Ugandans employed
“The industrial sector now contributes 16.5% to Uganda’s GDP, with manufacturing alone generating approximately Shs 8 trillion and employing more than 1.4 million Ugandans,” Bahati said. He highlighted that Namanve Industrial Park hosts over 400 factories and employs around 4,000 people, making it one of the most vibrant industrial hubs in the country.
In this context, Bahati described the new dfcu branch as a practical tool for unlocking productivity, improving cash flow, and accelerating business growth. By embedding financial services within the industrial ecosystem, he said, manufacturers can access banking solutions more efficiently, reduce transaction costs, and respond faster to market opportunities.
He also encouraged the banking sector to continue working toward more affordable lending to further stimulate industrial expansion and urged dfcu to replicate the Namanve model in other industrial parks as government scales up the country’s manufacturing footprint.
24 hours service
Margaret Karume, Chief Credit Officer at dfcu Bank, said the new branch is designed to serve customers within the industrial park and surrounding communities, ensuring that financial services are available where business happens.
“We have a cash depositor machine that allows cash deposits 24 hours a day, seven days a week, all year round. This initiative supports both corporate and personal customers, and we are fully committed to transforming lives and businesses in Uganda,” Karume said.
The ceremony also drew the participation of George Musisi, the newly declared Member of Parliament for Kira Municipality following the 2026 general elections, who welcomed the development as a timely boost to local enterprise. Musisi applauded dfcu for bringing services closer to the community and emphasized the importance of balancing due diligence with efficiency in banking operations.
“Quick access to finance is crucial to prevent reliance on money lenders due to extensive paperwork in banks,” he noted, calling for streamlined processes that safeguard both the bank and its customers.
For business leaders operating within the park, the branch represents convenience, reliability, and continuity. Faridah Ally, Manager at LaganDott Namanve Ltd, said the new outlet strengthens a partnership that has underpinned her company’s growth since 2021.
Boosting development agenda
LaganDott, the official road construction and infrastructure firm in the park, has relied on dfcu for financial support over the years, a relationship Ally described as steady and dependable.
Meanwhile, Fred Moses Waida, the Vice Chairperson for Namanve Industrial Park, pledged full cooperation with the bank. “As leaders, we pledge our full support to dfcu. We must work with institutions that come to serve our community. Our leadership is committed to supporting this partnership,” he said.
The branch opening aligns with dfcu’s broader role in advancing Uganda’s development agenda under the Tenfold Growth Strategy, which seeks to expand the economy to $500 billion by 2040. Implemented through the Fourth National Development Plan, the strategy prioritizes agro-industrialization, mineral value addition, oil and gas commercialization, and the transition of subsistence households into the money economy through the Parish Development Model.
As Uganda remains among the world’s fastest-growing economies, buoyed by resilient macroeconomic performance and rising private sector credit activity, the establishment of financial hubs within industrial zones such as Namanve is poised to play a catalytic role. By bringing capital closer to production, dfcu’s strategic investment stands as a strong vote of confidence in Uganda’s industrial future
About the Author
