In a bid to boost Uganda’s green technology sector, the Stanbic Business Incubator Limited (SBIL) has partnered with the French Embassy in Uganda to support youth and women entrepreneurs through a new program dubbed the Stanbic GreenTech Accelerator.
Speaking during the official launch held at Protea Hotel, Kampala, Catherine Poran, the Chief Executive Officer of SBIL, said the initiative marks another milestone in the partnership between Stanbic and the French Embassy, underscoring Stanbic’s commitment to driving Uganda’s sustainable growth.
“It is an initiative being supported by the Embassy of France in Uganda, and not only marks another chapter of our partnership, but also Stanbic’s commitment to driving Uganda’s growth,” Poran said.
She emphasized the importance of integrating green business models into Uganda’s economic strategy, saying it is key to ensuring sustainable development, protecting the environment, fostering inclusive growth and job creation, and building resilience to climate change.
Poran explained that green business models prioritize sustainability in all aspects of enterprise operations—aiming to reduce environmental footprints while creating both economic and social value.
The Stanbic GreenTech Accelerator is a two-year initiative targeting 200 women and youth-owned micro-enterprises in sectors such as sustainable agriculture, green mobility, circular economy, waste management, renewable energy, water and health, and natural resource management.
The program will be implemented in the Kampala Metropolitan Area and the Albertine Region with the goal of promoting the growth of a green, resilient, and innovative economy by strengthening enterprise capacity, improving access to finance and markets, and creating an enabling business environment.
SBIL, a subsidiary of Stanbic Uganda Holdings Limited (SUHL), has so far supported the growth of more than 5,700 small and medium enterprises (SMEs) through training programs focused on access to finance, access to markets, and business operational skilling.
“After seven years, the Stanbic Business Incubator has gained a well-deserved position as a leading resource centre for supporting SME growth. In 2024 alone, shs 76 billion in loans and credit were availed to SMEs by Stanbic Bank,” Poran noted.
“This new program will benefit 120 SMEs from the Kampala Metropolitan Area, while 80 will come from the Albertine Region.”
Poran further cited the National Development Plan IV (NDP IV), which identifies Uganda as one of the most entrepreneurial countries globally but with low survival rates among micro, small, and medium enterprises (MSMEs).
French Ambassador to Uganda, Mrs. Virginie Leroy, hailed the partnership as a practical step toward sustainable development and job creation.
“We are very happy to join Uganda in contributing to the solution. As Catherine said, it’s about grasping opportunities—not only talking about risks but creating jobs and driving development,” she said.
Leroy explained that the project builds on a previous collaboration — the Network for Innovation and Sustainability in Agriculture and Tourism (NISAT) — which supported 110 MSMEs in agroecology and eco-tourism through training, coaching, mentorship, and micro-grants to help young Ugandans build sustainable businesses.
“This new initiative is bigger and more ambitious, with a goal to support even more young people in the green economy,” Leroy added.
The Stanbic GreenTech Accelerator is valued at €687,833, including a French Embassy grant of €450,000 (approximately shs 1.8 billion). Of this, €131,351 will be released in the first installment. Stanbic Bank will co-finance the project to the tune of €237,833, representing 34.5% of the total budget.
James Karama, Stanbic Bank’s Head of Client Coverage in Corporate & Investment Banking, said the program aligns with the bank’s core purpose and sustainability goals.
“Stanbic Uganda Holdings Limited is part of the Standard Bank Group—Africa’s largest bank by assets. Our purpose, ‘Africa is our home; we drive her growth,’ guides everything we do,” Karama said.
“Today’s launch reflects our shared belief that Africa’s development must be sustainable.”
He explained that the bank’s focus under the WYF Agenda—Women, Youth, and Farmers—is to drive inclusive economic growth.
“We are investing in innovation in green enterprises and, most importantly, in people. Through this program, we are creating opportunities for those who hold the promise of Uganda’s future,” Karama said.
“Through this agenda, we are intentionally directing our financial and non-financial resources toward financial inclusion, enterprise development, job creation, infrastructure investment, and climate resilience.”
Johnson Abitekaniza, Assistant Commissioner for Micro, Small, and Medium Enterprises at the Ministry of Trade, Industry, and Cooperatives (MTIC), welcomed the initiative, noting that it aligns with the government’s green growth strategy.
“The government has come up with a green strategy. We have also set up a desk at the Ministry of Finance for the Green Finance Unit, which is addressing these issues,” Abitekaniza said.
He commended the partnership between Stanbic Bank and the French Embassy as a model for advancing Uganda’s sustainable development agenda through private sector participation.
