The Uganda Green Enterprise Finance Accelerator (UGEFA) Programme-funded At Uganda

  • Country: Uganda
  • Open to: Ugandan
  • Fund type: Full funded
  • Open date: 21st October 2021
  • Deadline: 09th December 2021
Description
We reduce the risk of financing change by working together with financial institutions to co-create funding facilitation mechanisms for green SMEs, and launch them with enterprises that have graduated from our acceleration program to prepare for a wider roll-out.
We support green enterprises through a comprehensive and finance-focused accelerator programme to develop the business and financial skills needed to access financing and scale their positive environmental impacts and employee contributions.7
The Uganda Green Enterprise Finance Accelerator aims to facilitate the flow of green finance into the Ugandan SMEs sector through strengthening green SMEs and improving available financial mechanisms for SME debt financing.

Green businesses in Uganda are being urged to apply to an accelerator programme that offers free finance-focused workshops and discounted loans to help them scale up.

The Ugandan Green Enterprise Finance Accelerator (UGEFA) is looking to help high-potential small and medium-sized enterprises that specialise in eco-tourism, clean energy, sustainable transport, waste management and green manufacturing, including agro-processing, turning raw crops in finished products like textiles and dried fruit.

Applications to join UGEFA’s accelerator programme open today and close on 30 November. During the six-month programme, successful applicants will receive customised business development support from expert advisors. This tailored scheme includes capacity building workshops and peer learning, delivered by implementation partners, Adelphi and Finding XY.

After graduating from the UGEFA programme, enterprises are matched with banking partners. If they prove to be investible they are provided loans, 33% of which is covered by UGEFA, through funding from the European Union.

According to the Uganda Green Growth Development Strategy, an economy that considers people and planet, as well as profit, can boost GDP by 10 per cent and create four million jobs two decades from now.

This will require significant investment, however, with US$11 billion needed by 2024. Overcoming current funding barriers is critical to unlocking the country’s green economy. UGEFA will help eligible businesses ensure they meet the requirements of lenders so they can get access to the money they need to grow.

Businesses that are eligible (see criteria below) can receive support through the application process during application clinics – improving their business plans and ensuring they have necessary financial documentation. They will also provide networking opportunities with peers and business advisors and ensure that businesses gain a comprehensive understanding of the loan application process.

Commenting on the latest call for applications, Adelphi Executive Board Member, Rainer Agster said: “The current pandemic is a massive challenge for all enterprises, but it also provides an opportunity for a transformation towards a greener economy. UGEFA wants to work with enterprises accelerating this green transformation in Uganda. We are looking forward to receiving applications by green enterprises, who want to work with us and our partners.”

Finding XY’s Programme Lead Eddie Sembatya added: “The level of ingenuity among Uganda’s green entrepreneurs is second to none. We need to maximise their impact and that is why we are urging eligible businesses to submit applications to the programme and help transform Uganda’s business landscape.”

Applicants must be:

  • Registered businesses;
  • Engaged in a green sector, specifically clean energy, sustainable transport, sustainable tourism, waste management or green manufacturing, including in the supply chain of sustainable agricultural products;
  • Operational for 2+ years;

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