In remarks at Pride Bank’s annual general meeting, Uganda’s Ministry of Finance said the government will allow the bank to retain dividends as a form of capitalization to support organic growth and will also help it mobilize additional capital. Finance Minister Henry Musasizi linked that support to expectations that Pride Bank remain aligned with the government’s plan to expand the economy tenfold, support programmes including the Parish Development Model and Emyooga, and improve access to cheaper credit. Musasizi also commended the bank’s transition to Tier II status. Pride Bank’s chairman said the bank’s 2025 profit after tax rose 41% to UGX 11.55 billion, customer deposits increased 58% to UGX 281.96 billion, and total assets grew 28% to UGX 574.41 billion. At the same meeting, the board asked the government to channel more business to state-owned banks and help mobilize concessional financing for Pride Bank’s capitalization, while the minister of state for privatization and investment called for broader support to value chains and greater outreach to youth, women and farmers.
Ministry of Finance (Uganda)2026-07-13
Uganda Ministry of Finance backs Pride Bank capitalization through dividend retention, urges alignment with government lending priorities
At Pride Bank’s annual general meeting, Uganda’s Ministry of Finance said the government will let the bank retain dividends for capitalization and support efforts to raise additional capital. The minister tied that support to expectations that Pride Bank expand cheap credit and back government programmes such as the Parish Development Model and Emyooga.