"We need to demistify what green is".
If you are looking for a clear explanation of what green SMES are, and the services that UGEFA offers to them in Uganda, this is the interview you should watch. Our team's Green Finance specialists, Fred Opio and Barbara Akello, were interviewed on UBC television'S Good Morning Uganda to talk about discounted loans for green SMEs in Uganda.
"The purpose of the project is to support green SMEs access financing through our local partner banks, and to improve how these SMEs can operate in achieving their objectives", says Opio. But, who is eligible for UGEFA? "When we talk about green SMEs, we talk about SMEs that are sustainable and eco-inclusive in their operations", explains Akello. The SMEs that we work with have an environmental impact - companies that are into plastic recycling, or waste management, also SMEs that are into clean energy, like using biogas for cooking, or those in tourism, helping conserve nature and wildlife, those are green businesses."
UGEFA offers training and capacity building to green SMEs, and takes them through investment and strategic planning. We introduce these SMEs to our partner banks to get the loans, and - as UGEFA - we repay 33% of their total loan amount. That is the financial advantage of being part of UGEFA, "we try to reduce the burden of the enterprise on paying back the loan", explains Akello.