UDB says 69,202 jobs reported in 2025 were physically verified

What the report says

Uganda Development Bank (UDB) said enterprises it financed in 2025 created or sustained 69,202 jobs, and that it physically checked those figures through follow-up visits. The announcement was made by Managing Director Patricia Ojangole during the bank’s Annual General Meeting on Thursday, where UDB reviewed its financial and development results for the year.

According to the bank, the verified jobs were 24.6% higher than the previous year and came from businesses supported by UDB lending. Ojangole said the bank revisits financed enterprises to confirm the employment numbers it includes in its annual reporting. Finance Minister Henry Musasizi said UDB’s role is to provide long-term funding to productive parts of the economy and support private sector growth.

UDB also reported stronger lending activity in 2025, approving Shs518.4 billion for 120 projects and disbursing Shs502.2 billion, which it said was a 29% rise from 2024. The bank said supported firms recorded output worth Shs6.26 trillion, profits of more than Shs1.16 trillion, tax payments of Shs387 billion and foreign exchange earnings that increased to Shs1.84 trillion.

The bank said most of its lending goes to agriculture, commercial agriculture, manufacturing and industry. In broader context, development finance institutions often use such results to show economic impact, including jobs, production and competitiveness, though the exact verification methods can vary by lender.