- The financing will support priority infrastructure projects in education, health, transport, power, and water and sanitation.
- Multi-year funding aligned with Uganda’s Infrastructure Plan (2025–2030).
Ecobank and Development Bank of Southern Africa (DBSA) acting as Mandated Lead Arrangers, Coordinators and Bookrunners in partnership with Rand Merchant Bank (RMB), have closed a EUR 230 million facility for the Government of Uganda to finance its FY2024/25 Infrastructure and Development Budget.
The facility comprises EUR 130 million from Ecobank and RMB as well as EUR 100 million from DBSA, which will finance critical infrastructure projects in education, health, transport, power, transmission, water and sanitation. These investments are crucial in a country where only 35% of the rural population has access to electricity, and healthcare facilities are under-resourced. By targeting these needs, the facility supports Uganda’s socio-economic transformation under its Development and Infrastructure Plan (2025/26–2029/30).
This investment aligns with Uganda’s long-term development agenda, with 48 priority projects approved for FY2024/25 under the Uganda Development and Infrastructure Plan (2025/26–2029/30). These projects, valued at €500 million in total, are essential for strengthening the foundations of the country’s socio-economic transformation
Michael Larbie, Group Executive Corporate and Investment Banking, Ecobank, said: “This financing reflects Ecobank’s strong commitment to partnering with other African financial institutions to structure innovative and efficient funding solutions for critical infrastructure development across the continent. By working alongside DFIs and other commercial lenders, we can lead the mobilization of capital at scale and tailor solutions to enable national development priorities. For Uganda, this facility will help unlock investments in essential sectors that directly improves lives and create a stronger platform for growth.”
Grace Muliisa, Managing Director, Ecobank Uganda, “Ecobank Uganda is honoured to have acted as mandated lead arranger, coordinator, and bookrunner for this landmark transaction. This facility is not just about financing, it is about enabling Uganda to achieve its infrastructure and development priorities in education, health, transport, power, and water and sanitation. By working hand in hand with the Government, DBSA, and RMB, we are helping to deliver the foundations for inclusive growth and socio-economic transformation.”
Mpho Mokwele, Group Executive Transacting for the DBSA, said, “This transaction marks a significant milestone for DBSA as our first major syndication in East Africa. Offering EUR 100 million alongside Ecobank and RMB reinforces our belief in the strength of collaboration between local, regional and development finance institutions to enable critical infrastructure across the continent”
This transaction represents one of the most significant sovereign syndications in Uganda in recent years, setting a powerful precedent for future collaboration between governments, commercial banks and development finance institutions (DFIs) to drive inclusive development outcomes across the continent. This investment also contributes directly to the UN Sustainable Development Goals (SDGs) in Uganda, particularly Goals 3 (Health), 4 (Education), 6 (Clean Water and Sanitation), 7 (Affordable and Clean Energy), and 9 (Industry, Innovation, and Infrastructure).
