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Housing Finance Bank Joins GIZ and StartHub Africa in Promoting Innovation and Sustainability Towards Smart Cities

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In a significant stride towards achieving Sustainable Development Goal 11—Building sustainable cities and communities—Housing Finance Bank has partnered with StartHub Africa, with support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, for the Open Innovation Program demo day. The event provided a platform for six innovative startups—WENA Hardware, Yunga, ShareCARD, RentBeta, Kawu, and SEMA—to showcase their tailored solutions aimed at fostering the growth of sustainable and smart cities.

The Open Innovation Program, a collaboration between StartHub Africa and Make-IT in Africa (a project by GIZ GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development), focuses on supporting technology-driven solutions in the realm of smart cities. This initiative seeks to refine smart city concepts, establish enduring partnerships between startups and key stakeholders, and empower startups with personalized venture development and business modeling.

Housing Finance Bank played a pivotal role in shaping problem statements related to smart cities, contributed to the selection of participating startups, and provided training sessions and essential financial advisory services. Additionally, the bank is actively pursuing Memorandums of Understanding (MOUs) with startups that share mutual areas of interest, solidifying its commitment to advancing the smart cities agenda.

During the demo day, Mr. John B. Kaweesi, the Head of Mortgages and Consumer Banking at Housing Finance Bank, highlighted the significance of this collaboration. He emphasized that the bank’s involvement aligns seamlessly with its unwavering commitment to advancing smart cities and green technology while addressing Uganda’s substantial housing deficit.

“We believe that the Open Innovation Program is a pivotal step in addressing the profound housing deficit, currently estimated at 2.4 million units, and in safeguarding our planet for future generations,” stated Mr. Kaweesi. “Since the Program started, we have witnessed innovative solutions that not only reduce the cost of homeownership but also enhance environmental protection, home security, and digital platforms that unify key stakeholders within the housing value chain.”

John Baptist Kaweesi, Head of Mortgages and Consumer Banking at Housing Finance Bank during a panel discussion on open innovation and co-creation.

Housing Finance Bank takes pride in being a part of the innovative movement shaping the future of housing and sustainability in Uganda. The bank remains committed to enabling sustainable home ownership and financial independence, with the Open Innovation Program playing a crucial role in this journey. As Uganda progresses towards building smarter and more sustainable cities, Housing Finance Bank stands at the forefront of this transformative initiative.