Uganda’s mortgage market, one of Africa’s smallest in a country of nearly 50 million people and accounting for less than 1% of GDP, is set for targeted expansion after Diamond Trust Bank Uganda and Universal Multipurpose Enterprises signed a Memorandum of Understanding to tackle the country’s 2.4-million-unit housing deficit. The partnership, formalised at DTB’s head office, pairs the bank’s recently launched Mortgage Finance solution, offering longer-tenure financing for developers and tailored products for individuals and corporate employees, with Universal’s property development capacity. The goal is to create a more structured pathway to homeownership and real estate investment at a time when commercial mortgage rates typically range between 16% and 22%, locking out the vast majority of Ugandans amid widespread informal employment and land-titling challenges.