Africa-Press – Uganda. Uganda Development Bank Ltd (UDB) has graduated a new cohort of Small and Medium Enterprises (SMEs) in Mbarara District under its Enterprise Development Program (EDP), equipping entrepreneurs with critical skills to become investor-ready and build sustainable businesses.
The Enterprise Development Program provides business advisory services that prepare both start-ups and established enterprises to access financing from financial institutions while strengthening their operational capacity. The program comprises incubation, acceleration, and mentorship initiatives designed to address common challenges faced by SMEs.
Implemented in partnership with Makerere University Business School’s Entrepreneurship, Innovation and Incubation Centre (MUBS-EIIC), the hybrid program delivers training in capacity building, business incubation and acceleration, sector-focused master classes, structured short courses, and strategic partnerships.
For the Mbarara Cohort 2025, 46 enterprises were enrolled in the incubation phase, with 32 successfully completing the intensive two-month training program. The businesses represented diverse sectors, including agriculture, manufacturing, services, infrastructure, and oil and gas.
To date, UDB has incubated 329 SMEs across cohorts held in Kampala, Gulu, Mbale, Arua, Lira, Fort Portal, and Mbarara.
Speaking at the graduation ceremony held at Makerere University Business School, Mbarara Campus in Kamukuzi, UDB Director for Strategy and Corporate Affairs, Joshua Allan Mwesiga, underscored the importance of SMEs to Uganda’s economy.
“SMEs account for about 90 percent of Uganda’s private sector and contribute more than 75 percent to GDP. They are the backbone of our economy and a major driver of job creation,” Mwesiga said.
“However, studies show that two out of every three start-ups in Uganda fail within their first year.”
He noted that under its Special Programs, UDB continues to implement targeted interventions aimed at improving access to finance for SMEs, youth, and women.
“These interventions address key barriers such as lack of collateral, informality, and business readiness,” he said, adding that the Bank remains committed to supporting SMEs throughout their growth journey to enable easier access to credit.
One of the program beneficiaries, Muhanguzi Emmanuel, 40, praised UDB for equipping entrepreneurs with practical skills in financial management and bookkeeping.
“Before this training, I lacked knowledge on how to organise my books of accounts, conduct market analysis, and manage risk,” said Muhanguzi, who runs Jurassic World Vegetable Enterprise, a business that produces organic insecticides to protect crops from weevils.
“The trainers introduced us to software that helps track capital inflows and outflows and automatically generates financial reports. These are practical tools I did not even acquire at university.”
Muhanguzi encouraged fellow entrepreneurs to embrace partnerships and collaboration to strengthen their businesses.
Another participant, Mumpe Julian, 32, who operates a coffee farming and apiary enterprise, said the training highlighted the dangers of replicating business ideas without adequate research.
“We learned about mindset, debt management, financial literacy, and business planning,” Mumpe said. “The case studies shared showed how resilience helps businesses survive. It helped us appreciate that it is never too late to start or restart.”
The EDP equips participants with essential competencies in management best practices, corporate governance, record-keeping, risk management, marketing, human resource management, and financial planning.
This comprehensive approach is informed by UDB’s extensive experience in financing, implementing, and monitoring development projects.
The program is implemented in collaboration with key public and private sector partners, including the Uganda Registration Services Bureau (URSB), Uganda National Bureau of Standards (UNBS), Uganda Revenue Authority (URA), Uganda Investment Authority (UIA), National Social Security Fund (NSSF), and Uganda Women Entrepreneurs’ Association Limited (UWEAL).
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