Lira, Uganda | The Uganda Development Bank Limited (UDB) has graduated a new cohort of 34 Small and Medium Enterprises (SMEs) in Lira District and Lira City under its Enterprise Development Program (EDP), equipping them with vital business and investment-readiness skills.
According to Andama Mahamoud, the Bank’s Director of Investments, the training was part of UDB’s commitment to supporting enterprise growth through incubation, acceleration, and mentorship.
The program, he said, focuses on capacity building and skill development and was implemented in partnership with the Makerere University Business School Entrepreneurship, Innovation and Incubation Centre (MUBS-EIIC).
Andama explained that the program is designed to nurture selected private enterprises through targeted training and mentorship to enhance their ability to access financing from UDB and other financial institutions.
A total of 34 participants successfully completed the two-month training, bringing the total number of SMEs incubated by UDB to 315 across previous cohorts in Kampala, Gulu, and Arua.
He revealed that similar regional training sessions will be held later this year in Mbarara, Fort Portal, and Masaka, as part of the Bank’s wider effort to strengthen enterprise capacity across Uganda.
Andama emphasized the vital role of SMEs in Uganda’s economy, noting that they account for 90% of the private sector and contribute over 75% of the national GDP.
He said this makes them the backbone of Uganda’s economy and a key driver of job creation, which is why UDB invests in both financial and non-financial solutions to support their growth.
He pledged continued support to the graduates, assuring them that the Bank would “walk with them” as they put their newly acquired knowledge and skills into practice.
Andama also challenged entrepreneurs to embrace innovation, encouraging them to think beyond conventional methods and use technology, creativity, and collaboration to solve real community problems.
He said innovation should not stop at generating new ideas but must translate into actions that create value, drive growth, and impact society.
He further urged SMEs to share knowledge, build networks, and form partnerships, saying collaboration is the bridge between small beginnings and big achievements.
One of the program’s beneficiaries, Patrick Ouni, who runs Brixton Guesthouse in Lira, said the training transformed his perspective on business and purpose.
He noted that many entrepreneurs start businesses simply because others have succeeded, which often leads to failure.
Through the EDP, participants learned key principles of marketing, business planning, governance, and digital marketing that changed how they view entrepreneurship.
Ouni added that the participants also gained a deeper understanding of the importance of tax compliance and business formalization as key factors in becoming bankable.
The Enterprise Development Program equips SMEs with essential skills in corporate governance, record keeping, risk management, marketing, human resources, and financial management.
The holistic approach ensures participants are prepared to navigate complex markets and attract investment for sustainable growth.
The initiative is implemented in collaboration with key national institutions, 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).
About UDB
The Uganda Development Bank Limited (UDB) is Uganda’s national Development Finance Institution (DFI), mandated to accelerate socio-economic development through sustainable financial interventions.
The Bank supports private sector projects with potential to create jobs, boost production, enhance tax contributions, and generate foreign exchange.
UDB primarily invests in primary agriculture, agro-processing, and manufacturing, which account for about 80% of its portfolio, but also supports projects in tourism, human capital development, and infrastructure, including ICT.
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