468 Entrepreneurs graduate from Stanbic Business Incubator

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Stanbic Bank Uganda has awarded 468 entrepreneurs from 156 Small and Medium Enterprises (SMEs) certificates after completing business training courses at the bank’s Business Incubator in Kampala.

This is the fourth graduation ceremony of entrepreneurs from the Stanbic Business Incubator since its inception in February 2018. The training has recently been expanded upcountry to Gulu, Hoima and Mbarara where regional incubator centres have been established. In Hoima for example, 32 business associations have been set up and 80 in Mbarara to add to the 150 started in Kampala.

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Stanbic Bank’s Chief Executive Patrick Mweheire said, “Recent statistics show improvements in real productivity and revenue gains made by businesses that have completed the training. 62% of the companies showed positive growth through expansion into new markets and have taken on new employees. This demonstrates the continued growth we hope to for SMEs across the country.”

Speaking during the graduation ceremony, the guest of honour His Excellency the British High Commissioner to Uganda – Peter West said, “The Stanbic Business Incubator has brought much needed business development services to Ugandan enterprises and is filling a large gap in the enterprise development landscape.

Stanbic Bank’s Head of Enterprise Development Tony Otoa said, “Over the two years since the programmes inception, total of 1,489 entrepreneurs from 505 SME’s have been successfully trained and graduated during the last two years,”

Julia Mager, Team Leader for the GIZ E4D/SOGA Programme said, “E4D/SOGA is pleased to be partnering with the Stanbic Incubator. The Incubator has brought much-needed business development services to Ugandan enterprises. The programme aligns with the E4D/SOGA initiative’s objective of promoting local employment through capacity development of both Ugandan enterprises and people, particularly to maximize local benefits brought about by investments in the oil and gas sector.”

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