UDB Launches Incubator Program to Boost Enterprise Development

Business
UDB Launches Incubator Program to Boost Enterprise Development
Caption not available

The Uganda Development Bank (UDB) has introduced an innovative Incubator Program under its enterprise development product.

This program, spearheaded by Joshua Allan Mwesigwa, Director of Strategy and Corporate Affairs at UDB, aims to equip 291 enterprises with the necessary skills to attract investment and thrive in the competitive business landscape.

"The Incubator Program is a strategic initiative to empower Ugandan businesses and make them investor-ready," stated Joshua Allan Mwesigwa.

"Through a comprehensive curriculum tailored to the needs of local enterprises, we aim to enhance management best practices and unlock their growth potential," he added

Partnering with the Makerere University Business School Entrepreneurship Innovation and Incubation Center, the Incubator Program will adopt a hybrid approach throughout 3 to 9 months.

This collaboration ensures that participants receive expert guidance and support from both UDB and academic experts, enhancing the effectiveness of the training.

Moses Muhwezi, Principal of Makerere University Business School, emphasized the significance of supporting SMEs, citing their substantial contribution to Uganda's economy.

"SMEs are the backbone of our private sector, generating jobs and driving manufacturing output," remarked Muhwezi.

"Yet, many struggle to survive beyond their initial years of operation. The Incubator Program presents a vital opportunity to address this challenge and foster sustainable growth," he added

With SMEs constituting 90% of Uganda's private sector and contributing 80% of all manufacturing output, the success of initiatives like the Incubator Program is crucial for economic development and job creation.

By equipping entrepreneurs with the skills and resources needed to thrive, UDB aims to catalyze a new wave of innovation and prosperity in the Ugandan business landscape.

Reader's Comments

RELATED ARTICLES

LATEST STORIES

Pope apologises over reported homophobic slur
europe By Nile Post Editor
9 hours ago
Pope apologises over reported homophobic slur
Hiker survives 120m canyon fall with minor injuries
the-americas By Nile Post Editor
9 hours ago
Hiker survives 120m canyon fall with minor injuries
Muguka: Ruto overrules ban on addictive stimulant
kenya By Nile Post Editor
9 hours ago
Muguka: Ruto overrules ban on addictive stimulant
How to recover from addiction
health By Alex Mugasha
9 hours ago
How to recover from addiction
Govt urged to tame its appetite for borrowing
business By Pedson Mumbere
9 hours ago
Govt urged to tame its appetite for borrowing