DTB Urges Construction Sector to Embrace Financial Discipline, Partnerships for Funding

The head of Diamond Trust Bank (DTB), Geofrey Ssebaana, has challenged Uganda’s construction sector to adopt stricter financial discipline, build strategic alliances, and integrate sustainability into their operations to secure much-needed financing from local banks.

Speaking at the Construction Procurement and Finance Dialogue, organized by the Uganda National Association of Building and Civil Engineering Contractors (UNABSEC), Ssebaana underscored that better financial management and forward-thinking practices are key to building trust with lenders and accessing the long-term capital vital for growth and resilience in the sector.

Ssebaana acknowledged the ongoing financial hurdles faced by the construction industry but assured that the banking sector is increasingly ready to provide scalable and innovative financial solutions specifically designed for contractors. “As a banker, I can confidently affirm that we are well-capitalized, willing, and fully prepared to support the construction sector,” he stated.

The DTB CEO encouraged contractors to see themselves as crucial partners in Uganda’s economic future, rather than simply clients of the banking sector. He emphasized, “You are not peripheral players, because in reality, we see you as deeply valued collaborators in building the nation’s infrastructure and advancing its development agenda.” Ssebaana also addressed the concern of high-interest rates, noting their downward trend, but highlighted that issues like diverting funds to unrelated projects continue to erode bank confidence.

General Edward Katumba Wamala, the Minister of Works and Transport, called on commercial banks to rebuild trust with contractors. He recognized that strained relationships, often due to delayed government payments, have led to harsh loan terms for many local firms. The Minister stressed the urgent need for a fairer financing framework and suggested creating a dedicated construction financing window, similar to those available in the agricultural sector.

Kiara Binta Nkuranga, President of UNABSEC, welcomed the renewed collaboration between the government and the banking sector, calling it a timely and strategic partnership. “Together, we will transform dialogue into action,” she declared, emphasizing that such cooperation is critical as the construction industry adapts to new institutional reforms and evolving economic demands.