Stanbic Business Incubator unveils two programs to enhance access to finance for SMEs in Uganda

Kampala, Uganda – The Chief Executive of the Stanbic Uganda Holdings Limited
(SUHL), Francis Karuhanga has officially flagged off two innovative programs aimed
at supporting businesses access finance, fostering economic growth within Uganda’s
dynamic SME sector.

Dubbed the Stanbic Accelerator Program (SAP) and the Supplier Development
Program (SDP) and unveiled in Kampala today, the two are under the
implementation of the Stanbic Business Incubator Limited (SBIL), which is a
subsidiary of SUHL.

“Each year, we inject about sh2 billion into the Incubator. The programs mark a
significant milestone in SBIL’s commitment to empowering entrepreneurs and small
business owners across the country. These initiatives are designed to equip SMEs
with the essential skills, knowledge, and resources needed to thrive in today’s
competitive business landscape,” Karuhanga said.

SBIL has partnered with MTN, Uganda Chamber of Mines and Petroleum, Uganda
Registration Services Bureau (URSB) , NSSF, GIZ, Petroleum Authority of Uganda
and many more strategic partnerships, bringing together key players in the sector to
support SMEs that enrol for these programs to scale and create social impact.

Justina Ziraba, MTN Business representative said, MTN will work with the Stanbic
Incubator to enable targeted businesses to build digital identities and digital brands;
Specifically, MTN will be providing training and coaching experts for digital
transformation and tailored-MTN business solutions for SMEs.

“MTN will also contribute to the Stanbic-SME awards Gala, an event which will
recognise and award outstanding SMEs that demonstrate excellence during the
capacity-building program,” Ziraba said.

Tony Otoa, the Chief Executive of Stanbic Business Incubator Limited, said strategic
partnerships have enabled SBIL impact over 3000 businesses in three years, while
urging entrepreneurs to unlearn and relearn as they prepare their businesses for the
future especially a future affected and driven by Artificial Intelligence (AI).
“We want to have a 99% support rate to all the entrepreneurs who seek access to
finance,”Otoa said.

The Stanbic Accelerator Program is tailored to support SMEs in their journey
towards growth and investment readiness. Through this program, business owners
will gain invaluable insights and training to enhance their company’s growth
prospects. Key focus areas include building competence in capital raising, fostering
resilience, and creating employment opportunities. Furthermore, the program will facilitate the development of a robust pipeline for potential
investors, thus fostering sustainable economic growth.

Meanwhile, the Supplier Development Program in alignment with Uganda’s growing
energy sector, will demystify opportunities and empower SMES to participate

Stanbic Incubator’s Programs Manager Nelson Kasadha said, “Participants will
receive comprehensive training and guidance on navigating the complexities of the
energy market, including market trends, opportunities, and challenges. Moreover, the program will facilitate crucial market linkages, connecting SMEs with potential
partners and customers. Additionally, participants will gain insights into accessing
grants and loans to fuel their growth and expansion within the energy sector.”

“We are thrilled to introduce these transformative programs aimed at empowering
SMEs and driving economic prosperity in Uganda. By providing access to finance,
training, and market opportunities, we are confident that these initiatives will unlock
new pathways for growth and innovation within the SME ecosystem,”Kasadha said.

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