Kampala, (UG):- Buganda Land Board has signed a memorandum of understanding with Opportunity Bank Uganda Ltd that will see over 1,000 bibanja holders benefit in registering and obtaining certificates of land title on their land.
The development comes at a time when several Bibanja holders are facing increasing pressure from people who say they are owners of the land they occupy without proof.
During the signing of the MoU on Friday, November 22, Mr Simon Kabogoza, the Chief Executive Officer of Buganda Land Board said the initiative will help Bibanja land owners access finance with Opportunity Bank for processing of their land titles.
“The collaboration with Opportunity Bank is a step towards ensuring that Bibanja holders can secure legal rights to the land they occupy which in turn will open up significant opportunities for them in terms of financial access and development,” Mr Kabogoza said.
He added that the partnership between Buganda Land Board and Opportunity Bank will make a positive impact, providing Bibanja holders with essential resources, and enhancing financial inclusion hence contributing to economic growth and development of the country.
Mr Owen Amanya, the Chief Executive Officer of Opportunity Bank said under the MOU, the Buganda Land Board will play a critical role in identifying eligible Bibanja holders, recommending them for financial support and forward their applications to Opportunity Bank.
“In turn, the bank will provide the necessary financing to help landholders secure titles for their properties as Buganda Land Board will oversee the titling process and work with relevant authorities to ensure that certificates are issued efficiently,” Amanya noted.
He added; “this partnership builds on the ongoing collaboration between Opportunity Bank and Buganda Land Board and aims to empower thousands of Ugandans who hold Bibanja by ensuring that they have legal ownership of the land they occupy.”
With this new collaboration, both Opportunity Bank Uganda and Buganda Land Board are working towards making a lasting impact on the economic empowerment of Uganda’s landholders. By providing them with the tools and resources they need to secure land titles, the partnership is set to contribute to the country’s broader goals of financial inclusion and sustainable development.
Do you have a story or an opinion to share? Email us on: [email protected] Or join the Daily Express WhatsApp channel for all the latest news and trends or join the Telegram Channel for the latest updates.
