National Development Banks (NDBs) are the unsung heroes of economic development. When properly structured and enabled, they are vital instruments in a government’s toolkit to meet a country’s national development goals.
That’s why Uganda Development Bank (UDB) engaged Momentus (formerly IFCL) to undertake an institutional development study. We boosted UDB’s ability to deliver on its development mandate by embedding global best practices into its operations from governance through to HR practices and everything in-between.
UDB’s mission is accelerating socio-economic development through sustainable financial interventions. Our study focused on ways it could do that more effectively and efficiently. Our recommendations enhanced UDB’s economic and social impacts in both private and public sectors.
The study was subsequently recognized by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) with its award for Outstanding Development Project Award under the human capital development category in 2018.
We delivered multiple pieces as part of our work with UDB, including a five-year strategic plan, a mid-term action plan, new board charter, new monitoring and evaluation system, new policies, and new training programme, to enhance the capacities of UDB staff, managers, and board of members.
To accomplish this, our senior team “twinned” with UDB’s C-suite members to ensure all our advisory work included technical capacity building as we undertook assessments of strategy, finance and business performance, and gap analysis benchmark against UDB comparators.
Capitals here and small letters elsewhere. Again, we need consistency. Come to me with a naming approach and get my approval for standardization