KAMPALA – As part of achieving Sustainable Development Goal 11 (Build sustainable cities and communities), Housing Finance Bank joined StartHub Africa with the support of Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for the day of Open Innovation Program demonstration where six startups – WENA Hardware, Yunga, ShareCARD, RentBeta, Kawu and SEMA – presented their customized solutions for the growth of sustainable and smart cities.
The open innovation program, implemented by StartHub Africa in partnership with Make-IT in Africa, a project of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development ( BMZ), is dedicated to supporting technological solutions in the areas of smart cities. This initiative aims to refine smart city ideas, establish long-term partnerships between startups and relevant partners, and equip startups with personalized business development and business modeling.
In this context, Housing Finance Bank played a central role in elaborating smart city issues, contributed to the pre-selection of participating startups and provided essential training sessions and financial advisory services. Additionally, the Bank is actively seeking Memorandums of Understanding (MOUs) with startups sharing mutual areas of interest to solidify its commitment to advancing the smart cities agenda.
Representing the bank, Mr. John B. Kaweesi, Head of Mortgage and Consumer Banking at Housing Finance Bank, highlighted the importance of this collaboration during the demo day. He highlighted that Housing Finance Bank’s involvement in the program aligns perfectly with the bank’s unwavering commitment to advancing smart cities and green technologies while tackling the country’s significant housing deficit. Uganda.
“We believe the open innovation program is a crucial step in addressing the deep housing deficit, currently estimated at 2.4 million units, and safeguarding our planet for future generations. Since the program’s launch, we have witnessed innovative solutions that not only reduce the cost of homeownership, but also improve environmental protection, housing security, and digital platforms that unify key parties stakeholders in the housing value chain,” said John B. Kaweesi, program manager. Mortgages and consumer banking at Housing Finance Bank.
Housing Finance Bank is proud to be part of the innovative movement shaping the future of housing and sustainability in Uganda. The bank remains committed to enabling sustainable homeownership and financial independence, and the open innovation program is an important step in this journey.