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Kampala, Uganda | THE INDEPENDENT | Stanbic Uganda Holdings Limited (SUHL) has officially flagged off two innovative programs aimed at supporting businesses to access finance, fostering economic growth within Uganda’s dynamic SME sector.
Dubbed the Stanbic Accelerator Program (SAP) and the Supplier Development Program (SDP), the two are under the implementation of the Stanbic Business Incubator Limited (SBIL), which is a subsidiary of SUHL.
“Each year, we inject about Shs2 billion into the Incubator. The programs mark a significant milestone in SBIL’s commitment to empowering entrepreneurs and small business owners across the country. These initiatives are designed to equip SMEs with the essential skills, knowledge, and resources needed to thrive in today’s competitive business landscape,” said SUHL Chief Executive, Francis Karuhanga.
SBIL has partnered with MTN Uganda, Uganda Chamber of Mines and Petroleum, Uganda Registration Services Bureau (URSB), NSSF, GIZ, Petroleum Authority of Uganda, and many more strategic partnerships, bringing together key players in the sector to support SMEs that enrol for these programs to scale and create social impact.
MTN Business’ Justina Ziraba, said MTN will work with the Stanbic Incubator to enable targeted businesses to build digital identities and digital brands.
SBIL Chief Executive Tony Otoa, said strategic partnerships have enabled SBIL to impact over 3000 businesses in three years.
“We want to have a 99% support rate to all the entrepreneurs who seek access to finance,” Otoa said.
The Stanbic Accelerator Program is tailored to support SMEs in their journey towards growth and investment readiness. Through this program, business owners will gain invaluable insights and training to enhance their company’s growth prospects. Key focus areas include building competence in capital raising, fostering resilience, and creating employment opportunities. Furthermore, the program will facilitate the development of a robust pipeline for potential investors, thus fostering sustainable economic growth. Meanwhile, the Supplier Development Program in alignment with Uganda’s growing energy sector, will demystify opportunities and empower SMES to participate actively.
