The Stanbic Business Incubator Limited (SBIL) and the French Embassy in Uganda have launched a new initiative aimed at supporting women and youth engaged in green innovation.
The Stanbic GreenTech Accelerator Program, unveiled on Friday at Protea Hotel in Kampala, seeks to promote environmentally sustainable enterprises across sectors such as renewable energy, waste management, sustainable agriculture, and water and natural resource management.
The two-year programme will benefit 200 women and youth-owned micro-enterprises — 120 from the Kampala Metropolitan Area and 80 from the Albertine Region.
SBIL chief executive Catherine Poran said the project demonstrates both Stanbic’s and France’s commitment to supporting Uganda’s transition toward a sustainable, low-carbon economy.
“Blending the green business model into Uganda’s economic growth is crucial for ensuring sustainable development, protecting the environment, fostering inclusive growth and job creation, as well as building resilience to climate change,” Poran said.
Poran added that SBIL has so far trained over 5,700 small and medium enterprises (SMEs) across Uganda, helping them access finance, markets, and business skills. She noted that Stanbic Bank extended Shs 76 billion in loans and credits to SMEs in 2024.
The French ambassador to Uganda, Virginie Leroy, said the partnership builds on an earlier initiative, the Network for Innovation and Sustainability in Agriculture and Tourism (NISAT), which supported 110 small enterprises in agroecology and eco-tourism.
“This new project is bigger and more ambitious, with a goal to support more young people in the green economy,” she said.
The GreenTech Accelerator is valued at €687,833 (about Shs 2.7 billion), with the French Embassy contributing €450,000 (around Shs 1.8 billion) and Stanbic Bank co-financing €237,833, representing 34.5% of the total budget.
James Karama, Head of Client Coverage at Stanbic Bank Uganda, said the programme aligns with the bank’s mission to drive Africa’s growth through sustainable investment.
“Uganda is our home, and we drive her growth. Through this programme, we are investing in innovation, in green enterprises, and most importantly, in people,” Karama said.
He added that Stanbic’s focus on women, youth, and farmers reflects the bank’s belief that these groups are central to Uganda’s economic transformation.
Johnson Abitekaniza, Assistant Commissioner for Micro, Small and Medium Enterprises at the Ministry of Trade, Industry and Cooperatives, said the government has also established a Green Finance Unit at the Ministry of Finance to coordinate green investment initiatives.
“The government has come up with a green strategy, and we are working closely with partners like Stanbic and the French Embassy to promote sustainable enterprise growth,” he said.
