Africa-Press – Uganda. Uganda Development Bank Ltd (UDB) has graduated a new cohort of Small and Medium Enterprises (SMEs) in Lira District through its Enterprise Development Program (EDP), providing them with the skills and knowledge necessary to become investor-ready.
The Uganda Development Bank (UDB) supports both startups and established businesses in need of advisory assistance for accessing funding from the Bank or other financial institutions, as well as sustaining their operations.
This support is provided through the Enterprise Development Program (EDP), which includes incubation, acceleration, and mentoring initiatives.
In collaboration with Makerere University’s Business School Entrepreneurship, Innovation and Incubation Centre (MUBS-EIIC), the hybrid program offers regional training, capacity building, business incubation and acceleration, sector-focused master classes, structured short courses, and partnerships with entities focused on capacity building and skill development.
Participants completed a two-month training course as part of the EDP and received certificates upon graduation. The program is designed to equip and nurture selected private enterprises through targeted training and mentorship, enhancing their ability to secure financing from UDB and other financial institutions.
In the Lira Cohort 2025, 40 enterprises participated in the incubation program, with 34 successfully graduating after completing the intensive training. These enterprises spanned various sectors, including agriculture, manufacturing, services, and the creative industries.
To date, 315 SMEs have been incubated across previous cohorts held in Kampala, Gulu, Mbale, and Arua. This year, the Bank plans to hold similar regional training sessions in Mbarara, Fort Portal, and Masaka as part of its ongoing efforts to strengthen enterprise capacity throughout the country.
“SMEs make up 90% of Uganda’s private sector and contribute over 75% to our GDP. They are the backbone of our economy and a key driver of job creation. That’s why we invest in both financial and non-financial solutions to support their growth,” stated Andama Mahamoud, Director of Investments at Uganda Development Bank, during the graduation ceremony held on Friday at Lira University’s Faculty of Management Sciences.
He pledged that the bank would continue to walk with the graduates, providing them with guidance and support as they apply what they have learned.
Andama further challenged businesses to embrace innovation.
“Think beyond the conventional. Use technology, creativity, and collaboration to solve real problems in your communities. Innovation is not just about new ideas—it’s about turning those ideas into action and add value to drive growth and impact,” he said.
“Share knowledge, build networks, and form partnerships with fellow SMEs. Together, you can unlock new opportunities, strengthen your value chains, and amplify your impact. Collaboration is the bridge between small beginnings and big achievements.”
Patrick Ouni, one of the program’s beneficiaries, praised UDB’s training, highlighting the careful selection of trainers and the effectiveness of the sessions.
“The training has helped us discover our personal sense of purpose. Many people start businesses simply because they see others succeed, which can lead to failures,” said Ouni, who runs Brixton Guesthouse, a hospitality establishment in Lira that offers accommodation, conference facilities, outside catering, and car washing services.
“We learnt marketing principles, business planning, human-centric and digital marketing skills, succession planning, governance among other sessions that we found to be valuable. So, I am not the same person that I was before joining EDP. The way I am looking at business is completely different,” he added.
Ouni noted that participants appreciated why tax compliance as well as business formalization are critical for any business to be bankable.
The EDP provides participants with essential skills in management best practices, corporate governance, record-keeping, risk management, marketing, human resources, and financial management, among others. This comprehensive approach lays a strong foundation for their future success, ensuring they are well-equipped to navigate market complexities and attract necessary investment for growth.
This training is based on the UDB’s extensive knowledge of business, the operating environment, and experience gained from funding, implementing, and monitoring similar projects.
The program is implemented in collaboration with partners, including the Uganda Registration Services Bureau (URSB), Uganda National Bureau of Standards (UNBS), Uganda Revenue Authority (URA), Uganda Investments Authority (UIA), National Social Security Fund (NSSF), and Uganda Women Entrepreneurs’ Association Limited (UWEAL).
For More News And Analysis About Uganda Follow Africa-Press
