Pride Bank Limited has unveiled a newly structured mortgage solution aimed at improving access to property financing and supporting growth in Uganda’s real estate sector.
Developed in collaboration with BAKAIMA Group, the Pride Mortgage Loan is positioned as a flexible financing option for individuals seeking to purchase homes, invest in commercial property, construct in phases, or release equity from existing assets.
Bank officials said the product was informed by clear gaps in the market. “We analyzed customer behavior, market demand, and the direction of Uganda’s property sector, and it became clear that there was need for a more structured and accessible mortgage solution,” said Kalumba Yusuf Kasule, Manager Distribution and Channels.
He noted that the facility blends accessibility with financial discipline. “This product is designed to give customers flexibility while maintaining structure. The way funds are released, combined with our pricing model, ensures that investments are managed responsibly,” he explained.
The mortgage caters to a wide customer base, offering financing from Shs 30 million up to Shs 1 billion. Clients are required to contribute 25 percent of the property value, with the bank covering the remaining portion.
According to Kalumba, the phased disbursement model is one of the product’s defining features. “Instead of issuing the entire loan amount at once, we release funds progressively based on verified milestones. This improves accountability and helps keep projects on track,” he said.
He added that shared financial commitment is critical to success. “By requiring a 25 percent contribution, we ensure that customers are fully invested in their projects. It strengthens project viability and aligns interests between the bank and the borrower,” he noted.
Interest rates under the facility range from 23.5 percent to 28 percent, calculated on a reducing balance. “Our pricing structure is transparent and aligned with risk levels across different loan sizes. We wanted to maintain competitiveness while ensuring sustainability,” Kalumba said.
The loan also includes built-in flexibility through grace periods. “We understand that construction and business projects take time to stabilize. That is why we have provided grace periods to allow customers to settle before entering full repayment,” he added.
Through the partnership, buyers will also benefit from access to verified land and property listings, addressing trust and transparency challenges that have long affected the sector.
Speaking at the launch, Medard Owoyesigire General Manager for Affordable Housing at BAKAIMA, described the initiative as a turning point. “This is more than a partnership. It is the beginning of a structured pathway to property ownership and real estate investment in Uganda,” he said.
He highlighted the broader impact on ordinary Ugandans. “For many people, owning property is about security and long-term stability, but the process has often been difficult and uncertain. We are changing that by combining organized opportunities with reliable financing,” Owoyesigyire explained.
He emphasized that the collaboration simplifies the journey to ownership. “We are creating an environment where people can access verified property, secure financing, and develop their investments step by step with confidence,” he said.
Under the arrangement, customers can access titled land with a 25 percent deposit starting from as low as Shs 2.3 million, with flexible repayment options estimated at about Shs 7,000 per day over a period of up to three years.
Medard said the initiative is inclusive by design. “Whether someone is buying land for the first time, building gradually, or investing in larger developments, this platform provides a clear and structured path forward,” he noted.
The Pride Mortgage Loan is now available across all Pride Bank branches nationwide, reinforcing the bank’s strategy to expand its footprint in real estate financing while supporting economic activity.
“We are focused on responsible lending and long-term value creation. This product allows us to grow while maintaining strong risk management,” Kalumba said.
