48 entrepreneurs graduate from Stanbic Business Incubator

— Forty-eight entrepreneurs have successfully graduated from the Stanbic Business Incubator, after completing months of intensive training, mentorship, and coaching under two flagship enterprise development initiatives: the Stanbic Accelerator Programme (SAP) and the Supplier Development Programme (SDP).

The graduation ceremony, held on Friday in Kampala, marks a significant milestone in efforts to strengthen Uganda’s private sector by equipping small and medium-sized enterprises (SMEs) with the tools needed to access capital, scale operations, and become more competitive in national and regional value chains.

Speaking at the event, Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), emphasized the centrality of entrepreneurs to Uganda’s economic future.

“We believe that sustaining Uganda’s economic growth depends on a vibrant private sector, from which entrepreneurs can emerge to innovate and create new jobs,” Karuhanga said. “However, entrepreneurs also need training and mentorship to fully exploit the opportunities available.”

The Stanbic Business Incubator was established in 2018 as a strategic investment by Stanbic Bank to nurture entrepreneurial capacity, enhance SME bankability, and support the goals of Uganda’s national development agenda. Since its inception, the incubator has trained over 4,500 entrepreneurs across sectors including agribusiness, construction, ICT, and manufacturing.

Catherine Poran, Chief Executive of the Stanbic Business Incubator, noted that the programmes are aligned with National Development Plan IV (NDP IV), which identifies the private sector as a key driver of inclusive growth and job creation.

“In alignment with NDP IV’s goal of fostering a competitive private sector, the Stanbic Business Incubator has developed programmes that streamline access to finance, markets, and capacity building,” she said.

Through SAP and SDP, entrepreneurs received tailored support in areas such as business strategy, financial management, market linkage, procurement readiness, and digital transformation. Participants also benefited from exposure to industry mentors, corporate buyers, and potential investors.

Representing the Office of the Prime Minister, Hon. Lillian Aber commended the initiative and urged graduates to embrace innovation and digital tools to improve productivity.

“I encourage you to embrace digital technology, including the use of artificial intelligence, to harness your work. The government remains committed to working with all stakeholders to build a strong and prosperous future for Uganda,” she said.

The graduation comes at a time when SMEs remain a critical component of Uganda’s economy—accounting for over 80% of the private sector and employing approximately 2.5 million people. Yet many of these businesses continue to face structural barriers such as limited access to affordable credit, poor governance structures, and weak market linkages.

Through partnerships with government agencies, development partners, and the private sector, the Stanbic Business Incubator aims to bridge these gaps and create a pipeline of investment-ready businesses capable of driving industrialization, exports, and employment.

According to Stanbic, several alumni of the incubator have gone on to secure long-term contracts with large corporates, export their products regionally, and improve their credit ratings with financial institutions.

As the country seeks to recover from global economic shocks and build resilience, the role of structured entrepreneurship support like that provided by Stanbic will be pivotal in unlocking Uganda’s full growth potential.