The Stanbic Business Incubator Limited (SBIL) has signed a new grant agreement with the Embassy of France in Uganda to finance the Green Tech Incubator and Accelerator for Entrepreneurship Program, which targets the youth and women in the Kampala Metropolitan Area and the Albertine Region, and aims to promote the development of a green, resilient, and highly innovative economy.
The agreement was signed at the Embassy in Kampala by the French Ambassador to Uganda, H.E. Virginie Leroy, and SBIL Chief Executive, Catherine Poran.
H.E. Virginie Leroy in her remarks said the project will support more than 200 Ugandan youth and women Small and Micro-Enterprises in sectors like sustainable cities, green mobility, circular economy, waste management, renewable energies, water and health, and smart agro/agri technologies, by strengthening their capacities, facilitating their access to finance and markets and creating an environment that fosters their growth.
Catherine Poran, the SBIL Chief Executive, said the bank was grateful to the French Embassy for their vision and trust in supporting them and making the program a reality. “Your investment is creating a transformative change in Uganda,” she said. “Through this program, we anticipate supporting over 300 entrepreneurs to pilot and scale solutions, directly training over 1,000 entrepreneurs, ensuring at least 60% are women and youth.”
The Stanbic Green Tech Accelerator is a two-year initiative estimated to cost UGX2.8 billion, including a French Embassy grant of approximately UGX 1.8 billion, of which UGX535 million will be released in the first installment. SBIL on its part is committed to co-financing the project to the tune of UGX969 million.
The Green Tech Incubator and Accelerator for Entrepreneurship Program aligns with Uganda Vision 2040 and the government’s Green Growth Development Strategy.
Poran noted that with the new program, they are extending their legacy into the green economy, enabling entrepreneurs to innovate, solve climate challenges, and also create opportunities for growth for women, youth, and farmers. She added that this would not have been possible without the support of the French Embassy. “Your Excellency, on behalf of the Stanbic Business Incubator, we want to appreciate you for the support that you have extended to the incubator to fulfill this pledge in supporting the entrepreneurs,” she concluded.
Aaron Akampa, Head of Enterprise Banking at Stanbic Bank, noted that the bank’s commitment to the initiative includes supporting a pipeline of SMEs to participate.
He further emphasized that, beyond training, access to liquidity is equally critical. “Thanks to the Uganda Energy Credit Capitalisation Company, there is funding, but we as Stanbic Bank also have quite a big pool of liquidity on top of what they already have to provide to these SMEs with the funding that they need,” he said.
The project reaffirms France’s long-term commitment to supporting innovation, entrepreneurship, and the employability of Ugandans, particularly women and young people as evidenced by the Embassy’s efforts in recent years.
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