On April 29th, 2025, Pride Microfinance (MDI) marked a historic milestone when it officially transitioned into a Tier II banking institution, now operating as Pride Bank Limited. The announcement was made during a press conference at the Kampala Serena Hotel, Turaco Hall, following the granting of a Credit Institution License (Class 5) by the Bank of Uganda in November 2024. This elevation signified Pride’s growth from a microfinance deposit-taking institution into a fully-fledged bank with the capacity to offer a wider range of financial services to Ugandans.

Speaking at the press conference, Edward Nkanji, Executive Director of Pride Bank Limited, explained that with the Tier II license, Pride Bank now stood ready to provide an expanded array of financial solutions, including competitive savings products, enhanced loan facilities, and seamless digital banking services. He emphasized that the institution remained committed to financial inclusion and intended to reach more customers with solutions that would positively impact their lives. On behalf of the board, Chairman Fred Omach Mandir expressed gratitude to the Bank of Uganda for granting Pride the Tier II license, recognizing it as a significant step in the institution’s journey. Representing the central bank, Mackay Aomu, Director of Non-bank Financial Institutions, commended Pride for meeting all the requirements for elevation and encouraged the team to work even harder toward achieving Tier I status in the future.

The transition was celebrated as a momentous occasion, reflecting both progress and resilience in Uganda’s financial sector. Pride Bank, wholly owned by the Government of Uganda, reaffirmed its mission to extend inclusive, customer-centric financial services nationwide. With 45 branches and 2 contact offices already in operation, the bank was well positioned to expand its reach and deepen its impact. The new status meant that Ugandans could look forward to improved deposit and loan products, modern digital banking platforms, and community-focused initiatives designed to empower individuals and businesses alike.

The event highlighted Pride Bank’s role as a partner in national development, bridging the gap between underserved communities and the formal banking system. Stakeholders celebrated the transformation as a symbol of Uganda’s commitment to building a robust financial system that empowered its people. As Pride Bank embarked on this new chapter, it carried forward its founding mission of financial inclusion, while embracing innovation and growth to serve Ugandans better.