Agro processing farms to get financial boost

The European Union (EU)-funded Uganda Green Enterprise Finance Accelerator (UGEFA) programme, which provides sustainable Ugandan enterprises with support to scale and contribute to a green and inclusive economy, has today announced that it is accepting applications for its fourth and final cohort to join its programme.

UGEFA is seeking high-potential small and medium-sized enterprises looking for debt finance to invest in their business.

UGEFA targets SMEs that specialise in eco-tourism, clean energy, sustainable transport, waste management and green manufacturing, including agro-processing (turning raw crops into finished products such as textiles and dried fruit). 

Amplifying the impact of environmentally-conscious enterprises is essential to growing the economy, improving living conditions for thousands of people and increasing access to fulfilling employment.

Applications for the final cohort of the programme which opened March 1 will close on April 14. Previous applicants have received capacity-building workshops to help them scale through a series of hands-on interactive sessions to refine their business models, financial systems management and impact measures.

Since its launch in March 2020, UGEFA has received more than 1,900 registrations, accepted 120 enterprises into the programme and delivered over 50 workshops.

UGEFA supports successful applicants through its business advisors, led by Adelphi and Finding XY. It involves tried and tested practical tools to prepare entrepreneurs for managing growth and gives them a platform to showcase their businesses and share ideas with peers. 

The aim is to help enterprises prepare their loan application and access UGEFA’s network of partner banks such as Equity Bank, Yako Bank, Opportunity Bank - to achieve the next stage of growth.

Businesses that are eligible can receive support during application clinics. 

This includes help with preparing the necessary documents as part of their applications (e.g., business plans) and providing tips and tricks on how to compile a compelling application to the programme.

Commenting on the opening of the call for applications, Rainer Agster, Adelphi executive board member says: “UGEFA provides the support green enterprises need to grow and scale. We know that access to finance is a key challenge for green SMEs – UGEFA establishes the framework to make these enterprises bankable.”