SEPTEMBER 2023 | Kampala, Uganda
The Uganda Green Enterprise Finance Accelerator (UGEFA) takes a leap forward in fostering sustainable economic development by forging a strategic partnership with Stanbic Bank, a leading financial institution in Uganda. This landmark collaboration seeks to accelerate green growth in the region and pave the way for long-term, environmentally responsible financing.
With the pressing need for sustainable financing to combat climate change and protect Uganda's natural resources, UGEFA is thrilled to add Stanbic Bank to its esteemed list of partners, which already includes Equity Bank, Opportunity Bank and Yako Bank Limited. The coming together of these financial powerhouses stands as a testament to the banking sector's commitment to spearhead environmentally sustainable initiatives in Africa.
By joining forces with commercial banks, UGEFA aims to create a community of practice, fostering innovative green finance instruments, providing much-needed green small- and medium-sized enterprises (SME) lending, empowering businesses to pursue environmentally friendly practices while contributing to the nation's economic growth.
Emma Mugisha, Head of Business & Commercial Banking Stanbic Bank Uganda: “Through this partnership, Ugandan owned SMEs will have the opportunity to receive blended funding to boost investments in their green businesses and enable the growth of their solutions and scale for greater positive environment impact.”
Christine Meyer, UGEFA Project Lead: “This partnership marks an exciting milestone in Uganda's journey towards a green future. Together, UGEFA and Stanbic Bank are positioned to make a lasting impact, fostering green growth and propelling the nation towards a greener, more resilient economy.”
Through this partnership, Stanbic Bank will gain privileged access to the UGEFA pipeline, comprising over 200 finance-ready green businesses that have graduated from the intensive finance-focused UGEFA capacity building support programmes. In total, the facility aims to unlock more than 8 Mio USD of blended finance towards green SMEs across diverse sectors, including waste management, clean energy, sustainable tourism, sustainable transport, and green manufacturing, including value-added agro-processing.
The Uganda Green Enterprise Finance Accelerator (UGEFA) is a transformative initiative focused on driving green growth and sustainable financing in Uganda. Fully funded by the European Union Delegation to Uganda and implemented by adelphi Research gGmbH, UGEFA supports green enterprises and collaborates with financial institutions and key stakeholders to provide green SME lending and create a thriving ecosystem of environmentally responsible businesses.
About Stanbic Bank:
Stanbic Bank is a leading financial institution in Uganda, committed to delivering cutting-edge financial solutions and driving economic growth across the nation. With a strong focus on sustainability, Stanbic Bank aims to be at the forefront of initiatives that promote environmentally responsible practices and contribute to the well-being of Uganda's communities.