$20 million will be invested in green businesses program for over the next 5 years.
The ambassador of France to Uganda H.E Xavier Sticker has emphasized the need to invent and reinvent innovative partnerships to enable the growth of green businesses in Uganda to impact positively to societies.
He made remarks during the official closing of the Network for Innovation and Sustainability in Agriculture and Tourism program which Stanbic Business Incubator Limited has been carrying out for the past two years.
The project has graduated 110 youth and women-owned MSMEs but impacted over 200 businesses through various channels.
The program which was jointly funded by the Embassy of France to Uganda and Stanbic Business Incubator Limited aimed at fostering MSMEs in the Agro-Ecology and Eco-Tourism sectors in Uganda to develop sustainably and create jobs.
Tony Otoa, the SBIL executive director believes that the program has provided capacity building to participants and can now build and grow sustainable, competitive businesses and create new jobs for youth.
"The sessions involved basic business skills training, coaching, and mentorship together with opportunities to receive micro-grants. For benchmarking purposes, the trainees were further exposed through field trips to industry leaders" He adds.
He further notes that the project has created various opportunities for the businesses that have participated in the program, with a 99% completion rate, 25% receiving funds, and 85% with improved marketing strategies among others.
The closing of the 435,000 EUR grant program has again come with the launching of a new program dubbed the Green Business Program.
The program intends to guide and support entrepreneurs in diminishing the negative effects of climate change on their businesses.
The Green Business Program will target ambitious entrepreneurs and innovators to help them and their teams define and capture the full potential of adopting the new ideas relevant to this sector.
He says that the program presents an enormous opportunity for visionary leaders to seed and grow new green businesses that will reshape the world for a sustainable future.
According to him, there are about nine sectors ripe for green business disruption including transport, building and construction, power, water, and consumer goods.
Others are; agriculture and land use, green hydrogen fuels, waste management, and industrial products.
Through the Green Business Program, Stanbic Business Incubator Ltd has committed to building 200 Green Business national champions through training and coaching, and in collaboration with partners.
A total of $20 million will be invested in the green businesses program over the next 5 years.