Stanbic Bank and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH have today unveiled a regional partnership aimed at empowering women’s economic development and advancing environmental sustainability across Uganda, Kenya, and Tanzania.
This collaboration, dubbed “Promoting Green Businesses and Jobs for the Green Transformation project in Kenya, Tanzania and Uganda,” is set to be a catalyst for green innovation throughout East Africa.
The partnership builds upon the established efforts of the “Women Entrepreneurs for the Green Transformation in Africa (WE4D) program,” which is dedicated to supporting women-led green businesses committed to sustainable development.
This new initiative will focus on fostering the growth of green and “greening” women-led micro and small enterprises (MSEs) in the three countries.
Financial Inclusion for Women
A core objective of this Stanbic/GIZ partnership is to expand training opportunities for women and for businesses that are actively contributing to the region’s green transformation.
The second objective is to unlock more employment opportunities for women within green supply chains.
This includes promising sectors such as renewable energy, circular economy, waste management, blue economy, ecotourism, and sustainable agriculture.
The two-year program will be meticulously implemented through the Stanbic business incubators located in the three countries. It will encompass four cohorts, featuring a blend of classroom training, interactive workshops, insightful business visits, and personalised coaching.
Stanbic Bank Driving Economic Growth
The announcement of this impactful new program coincided with the launch of Stanbic Kenya Holdings’ 2024 sustainability report, themed ‘Deepening Impact: Building a Sustainable Future.’
The event, officiated by Lee Kinyanjui, the Cabinet Secretary for Investments, Trade, and Industry, showcased Stanbic’s significant impact over the past year.
Kinyanjui lauded Stanbic Bank for its role in driving economic growth, particularly acknowledging its contributions to environmental conservation, citing its involvement in the construction of the Nairobi Expressway.
He further underscored the vital importance of supporting Small and Medium-sized Enterprises (SMEs) through financial inclusion as a critical pathway to uplift Africa’s rapidly growing entrepreneurial landscape.
Quoting from The Economist, Kinyanjui highlighted the paradox that ‘Africa has too many businesses but too little business,’ emphasising the collective responsibility of financial institutions and other stakeholders in shaping the future of business on the continent.
Uganda’s Role in the WE4D Program
In Uganda, the WE4D program is commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) and receives additional support from the European Union and the Government of Norway.
GIZ Uganda, through the WE4D program, will be collaborating with Stanbic Business Incubator Limited (SBIL), in partnership with the Ministry of Gender, Labour, and Social Development (MGLD).
Speaking on the sidelines of the event, Sheila Agaba, the SBIL Business Manager, detailed the program’s focus in Uganda.
“The targeted districts in Uganda are Kampala, Wakiso and Mukono, where the eligible participating women will benefit from the provision of business training, business coaching and access to finance,” she stated.
Agaba elaborated on the program’s design, saying: “The program intends to attract green female-led businesses that have a financing need to scale their green businesses. The initiative will also support women SMEs to prepare for loan uptake at a subsidised rate, providing tangible solutions to the challenges faced in acquiring credit. Business owners will receive a personal touch from an expert in the form of coaching for three months, plus group training done in line with green entrepreneurship,” she added.
Agaba emphasised that this is a crucial investment in both the future of green industries and the empowerment of women entrepreneurs.
Eligibility Criteria for Participating SMEs:
To qualify for participation in this transformative program, SMEs must meet the following criteria:
Female-owned and female-led enterprises, or businesses that employ a majority of women.
Must be legally registered and operational in Uganda, with a minimum of two years in operation, providing evidence of historical performance at any stage of the value chain.
Have an annual turnover of at least Shs70 million over the past two years.
Existence of verified financial records, including a bank statement for the last 12 months.
Companies must operate in the sectors of Sustainable agriculture/Agro-processing, Renewable energy, Circular economy, and Waste management.
Must be actively seeking investment to induce business transformation and growth, with at least two full-time staff.