The Stanbic Business Incubator Limited (SBIL), in collaboration with the French Embassy in Uganda, on Friday officially launched the Stanbic GreenTech Accelerator, a two-year initiative designed to support youth- and women-led enterprises in green sectors including sustainable agriculture, renewable energy, green mobility, and waste management.
The program targets businesses in the Kampala Metropolitan Area and the Albertine Region.
Speaking at the launch at Protea Hotel, Kampala, SBIL Chief Executive Officer Catherine Poran emphasized the importance of integrating green business models into Uganda’s economic development.
“Green business models prioritize sustainability in all aspects of the enterprise to reduce the environmental footprint while creating economic and social value,” she said, noting the initiative’s alignment with Stanbic’s commitment to inclusive and sustainable growth.
The program, valued at €687,833 (about Shs2.7 billion), includes a €450,000 grant (Shs1.8 billion) from the French Embassy and €237,833 (34.5 percent) co-financing by Stanbic Bank Uganda.
It will support 120 small- and medium-sized enterprises (SMEs) from Kampala and 80 from the Albertine Region, focusing on capacity building, access to finance and markets, and creating an enabling environment for green business growth.
French Ambassador Virginie Leroy praised the initiative as a continuation of the successful partnership between SBIL and the French Embassy, which previously supported 110 micro, small, and medium enterprises (MSMEs) in agroecology and eco-tourism.
“The latest initiative is bigger and more ambitious, targeting more young people in the green economy,” she said.
James Karama, Stanbic Bank’s Head of Client Coverage in Corporate and Investment Banking, highlighted the program’s alignment with the bank’s Women, Youth, and Farmers (WYF) Agenda. “Through this program, we are investing in innovation in green enterprises and, most importantly, in people,” he said.
Representing the government, Johnson Abitekaniza, Assistant Commissioner for MSMEs at the Ministry of Trade, Industry and Cooperatives, commended the partnership and reaffirmed the government’s commitment to green economic transformation, noting the establishment of a Green Finance Unit at the Ministry of Finance to support such initiatives.
SBIL, the enterprise development arm of Stanbic Uganda Holdings Limited, has previously supported over 5,700 SMEs nationwide.
In 2024, Stanbic Bank extended Shs76 billion in loans and credit to SMEs, reflecting a strong commitment to enterprise growth.
The Stanbic GreenTech Accelerator is set to equip local businesses with the skills, financing, and tools needed to thrive in eco-friendly sectors, contributing to sustainable development, job creation, and climate resilience across Uganda.