Uganda is taking significant steps toward a sustainable, green economy, with women and youth at the forefront of the initiative.
The Stanbic Greentech Accelerator Program, launched on November 10, 2025, is set to play a crucial role in supporting environmentally sustainable enterprises, especially in green sectors such as renewable energy, sustainable agriculture, waste management, and green mobility.
Speaking at the launch event in Kampala, Catherine Poran, the Chief Executive Officer of Stanbic Business Incubator Limited (SBIL), emphasized the importance of integrating green business models into Uganda’s economic fabric.
“Blending the green business model in Uganda’s economic growth is crucial for ensuring sustainable development, protecting the environment, fostering inclusive growth, and creating jobs, as well as building resilience to climate change,” Poran stated.
The Greentech Accelerator Program is a two-year initiative developed through a partnership between Stanbic Bank and the French Embassy in Uganda. The program aims to support 200 micro-enterprises in sectors such as sustainable agriculture, renewable energy, circular economy, and natural resource management.
It will focus on the Kampala Metropolitan Area and the Albertine Region, providing critical support in building capacity, enhancing access to finance, and opening new markets for green enterprises.
The program’s design places a strong emphasis on empowering women and youth—two key demographics in Uganda’s economy. “This initiative embodies both Stanbic and France’s commitment to fostering a resilient, innovative, and low-carbon economy,” Poran explained, adding that the partnership is focused on enhancing access to financing and creating an environment where green businesses can thrive.
The Stanbic Business Incubator, which has gained recognition over the past seven years as a leading resource for supporting small and medium-sized enterprises (SMEs), will leverage its experience to implement the Greentech program. In 2024 alone, Stanbic Bank helped SMEs secure UGX 76 billion in loans and credits.
This new initiative builds on that success and aims to take it further by reaching an additional 200 SMEs in green sectors.
Out of the 200 enterprises selected for the accelerator, 120 will be drawn from the Kampala area, while the remaining 80 will come from the Albertine region. This targeted approach reflects the program’s aim to spread the benefits of green entrepreneurship across both urban and rural areas of Uganda.
The French Ambassador to Uganda, Mrs. Virginie Leroy, hailed the launch as a timely and ambitious step toward Uganda’s green transformation.
She emphasized that this program, which builds on previous collaborations like the Network for Innovation and Sustainability in Agriculture and Tourism (NISAT), represents a significant commitment to job creation, development, and sustainable growth in Uganda.
Leroy noted that NISAT had already supported 110 MSMEs in agroecology and eco-tourism with training, mentorship, and microgrants, setting a strong foundation for the new initiative.
“The latest initiative is bigger and more ambitious, with a goal to support more young people in the green economy,” Leroy stated.
The Greentech Accelerator Program comes with an estimated budget of €687,833, including a €450,000 grant from the French Embassy, with Stanbic Bank co-financing €237,833. This financial support reflects the strong partnership between the two entities and their shared vision for a sustainable future.
James Karama, Stanbic Bank’s Head of Client Coverage in Corporate & Investment Banking, emphasized the bank’s dedication to Uganda’s growth and the broader goal of Africa’s sustainable development. “Uganda is our home, and we drive her growth. This program demonstrates our belief that Africa’s development must be sustainable,” he said.
Stanbic’s focus on women, youth, and farmers—referred to as the WYF Agenda—is at the core of the bank’s mission to promote financial inclusion, job creation, and climate resilience. “We are investing in innovation in green enterprises and, most importantly, in people—those who hold the promise of Uganda’s future,” Karama added.
Representing the Ugandan government, Johnson Abitekaniza, Assistant Commissioner for MSMEs at the Ministry of Trade, Industry, and Cooperatives, expressed his appreciation for the program, noting that Uganda had already developed a national green strategy.
He highlighted the government’s commitment to green finance and disclosed that the Ministry of Finance had set up a Green Finance Unit to oversee initiatives like the Stanbic Greentech Accelerator Program.
As the program officially kicks off, it is clear that the Stanbic Greentech Accelerator Program is not just about business development but about creating a sustainable economic future for Uganda. By empowering youth and women with the tools and resources needed to succeed in green industries, the program aims to drive both economic and environmental transformation.
This initiative is a testament to the growing importance of sustainability in Africa’s economic development, and it positions Uganda as a key player in the global green economy.
As more businesses adopt environmentally sustainable practices, Uganda will be better equipped to meet its climate goals, provide jobs, and create long-lasting economic opportunities for future generations.
