Uganda Development Bank (UDB) has graduated a new cohort of small and medium-sized enterprises in Mbarara district under its Enterprise Development Programme (EDP), equipping them with skills to become investor-ready.
Through business advisory services, the state-owned development bank prepares both start-ups and established enterprises to access financing from financial institutions and sustain their operations. The support is delivered through the Enterprise Development Programme, which focuses on incubation, acceleration, and mentorship.
Implemented in partnership with Makerere University Business School’s Entrepreneurship, Innovation and Incubation Centre, the hybrid programme offers training in capacity building, business incubation and acceleration, sector-focused masterclasses, structured short courses and strategic partnerships.
Under the Mbarara Cohort 2025, 46 enterprises were enrolled in the incubation programme, with 32 completing the intensive two-month training. The enterprises operate across sectors, including agriculture, manufacturing, services, infrastructure, and oil and gas.
So far, 329 SMEs have been incubated under previous cohorts held in Kampala, Gulu, Mbale, Arua, Lira, Fort Portal, and Mbarara.
SMEs account for 90% of Uganda’s private sector and contribute more than 75% of the country’s gross domestic product. They are the backbone of our economy and a major source of jobs,” said Joshua Allan Mwesiga, UDB’s director for strategy and corporate affairs, during the graduation ceremony held on Friday at the Makerere University Business School Mbarara campus in Kamukuzi.
“Yet studies show that two out of every three start-ups in Uganda fail within their first year,” he added.
Mwesiga said UDB, under its special programmes, continues to roll out targeted interventions aimed at addressing the challenges faced by SMEs, youth, and women in accessing credit, including collateral constraints, informality, and limited business readiness.
He reaffirmed the bank’s commitment to supporting SMEs throughout their growth journey to enable them to access financing more easily.
One of the programme beneficiaries, Muhanguzi Emmanuel, 40, praised UDB for equipping entrepreneurs with practical knowledge in financial management and bookkeeping.
“Before this programme, I did not know how to organise my books of accounts, conduct market analysis, or manage risks. The training has equipped me with these skills,” said Muhanguzi, who runs Jurassic World Vegetable Enterprise, a business that produces organic insecticides to protect crops from weevils.
He added that participants were introduced to accounting software that helps track capital inflows and outflows and automatically generates financial reports.
“These are practical tools that I did not even acquire at university,” he said, calling on entrepreneurs to embrace collaboration and partnerships.
Another participant, Julian Mumpe, a coffee farmer and apiarist, said poor research and blind replication of business ideas remain a major cause of business failure.
“We have learned a lot, from developing the right mindset to debt management, financial literacy, and business planning,” said Mumpe, 32.
The Enterprise Development Programme equips participants with skills in corporate governance, record-keeping, risk management, marketing, human resource management, and financial management, among others. The approach is designed to help enterprises navigate market challenges and attract investment for growth.
The programme is implemented in collaboration with the Uganda Registration Services Bureau, Uganda National Bureau of Standards, Uganda Revenue Authority, Uganda Investment Authority, National Social Security Fund, and Uganda Women Entrepreneurs’ Association Limited.
