Kampala, Uganda, 15 September 2025 – 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).
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Media Contacts
For DBSA
Email: dbsa@dbsa.org
Tel: +27 11 313 3911
About DBSA
The Development Bank of Southern Africa is one of the leading development financial institutions on the continent. Our primary purpose is delivering impactful development finance solutions that ignite transformative change in South Africa and on the rest of the African continent. Improving the quality of life of people in Africa is the fundamental focus of our development impact. We aim to bend the arc of history towards shared prosperity through multifaceted investments in sustainable infrastructure and human capacity.
Our product solutions span all phases of the infrastructure development value chain from infrastructure planning and project preparation, across a range of financing and non-financing investments to infrastructure implementation and delivery. Our primary areas of focus include Energy, ICT, Transport, Water and Sanitation. Our secondary area of focus includes Education, Housing and Health.
About Ecobank Group
The Ecobank Group is the leading pan-African private sector banking group with unparalleled African expertise. It operates in 35 countries across sub-Saharan Africa, as well as in France, the United Kingdom, the United Arab Emirates, and China. Its unique pan-African network provides a unified platform for payments, cash management, trade, and investments. The Ecobank Group employs over 14,000 people serving more than 32 million customers and offers a comprehensive range of Personal, Commercial, and Corporate & Investment Banking products, services, and solutions through multiple channels, including digital. For more information, please visit www.ecobank.com
Media Contacts
For Ecobank Group
Christiane Bossom
Group Communications
Email: groupcorporatecomms@ecobank.com
Tel: +228 22 21 03 03