Overview:
The deal, unveiled in Kampala, is expected to unlock finance and technical support for small- and medium-sized enterprises (SMEs) that are tackling some of the country’s most pressing environmental challenges.
Ugandan entrepreneurs building environmentally sustainable businesses have been handed a major boost following a new partnership between the Uganda Green Enterprise Finance Accelerator (UGEFA) and Housing Finance Bank.
The deal, unveiled in Kampala, is expected to unlock finance and technical support for small- and medium-sized enterprises (SMEs) that are tackling some of the country’s most pressing environmental challenges.
The collaboration aims to bridge one of the biggest gaps in Uganda’s green economy—access to affordable finance. Many eco-focused start-ups struggle to secure funding despite their potential to reduce waste, expand clean energy use, and promote sustainable tourism. By pooling UGEFA’s expertise in nurturing green enterprises with Housing Finance Bank’s innovative financing solutions, the partnership promises to create a lifeline for businesses ready to scale.
Speaking at the launch, Housing Finance Bank’s chief risk officer, Marietta Naiga, said the initiative is not just about money but about rewriting how finance can power transformation. “Housing Finance Bank is proud to embark on this partnership with UGEFA because it reflects our bold commitment to building a future where finance drives transformation, empowers innovation, and supports enterprises shaping Uganda’s green economy,” she said.
The programme will prioritize SMEs in clean energy, sustainable manufacturing, eco-friendly tourism, green mobility, and waste management—sectors that remain underdeveloped yet vital for Uganda’s transition to a low-carbon economy.
The European Union, a strong supporter of UGEFA’s work, hailed the partnership as timely. Cristina Banuta, EU programme manager for Access to Finance, Agribusiness and Land, said the collaboration could set new standards for sustainable development. “By expanding access to finance for environmentally conscious SMEs, we are fostering sustainable growth and resilience. We look forward to seeing the positive outcomes this partnership will bring,” she noted.
UGEFA, which has already supported dozens of green businesses in Uganda, used the event to announce a new call for applications from enterprises across the country. Successful applicants will benefit not only from affordable loans through partner banks but also tailored business advisory services and capacity building.
Christine Meyer, project lead at UGEFA, stressed that the goal is to widen the reach of green finance and accelerate impact. “This partnership underscores our commitment to broadening the reach of green finance and supporting Uganda’s entrepreneurs in delivering sustainable solutions. With the launch of our new call for applications, we invite green businesses across the country to join us in accelerating positive change,” she said.
With Uganda facing rising urban waste, deforestation, and the urgent need for renewable energy alternatives, the initiative comes at a critical time. Analysts say that by channeling resources to SMEs, the partnership has the potential to spark innovation, create jobs, and ensure that the shift to a greener economy is both inclusive and resilient.