The Independent Uganda: You get the Truth we Pay the Price
Mbale, Uganda | THE INDEPENDENT | Uganda Development Bank Ltd (UDB), through its Enterprise Development Program (EDP), has graduated a new cohort of Small and Medium Enterprises (SMEs) in Mbale, equipping participants with critical business skills and investor-readiness knowledge to drive sustainable growth.
Delivered in partnership with Makerere University Business School’s Entrepreneurship, Innovation and Incubation Centre (MUBS–EIIC), the program combines practical training and advisory support through a hybrid learning model.
In the Mbale Cohort 2025, 32 enterprises were incubated, and 28 successfully completed the intensive two-month training. The participating businesses represented diverse sectors, including primary agriculture, manufacturing, agro-processing, education, health, tourism, and ICT—highlighting the dynamism and potential of Uganda’s SME landscape.
The EDP is a flagship non-financial intervention by UDB designed to nurture private enterprises through targeted mentorship and capacity building. The goal is to enhance business preparedness for accessing financing from UDB and other financial institutions. To date, 275 SMEs have benefitted from the initiative, following earlier cohorts in Kampala, Gulu, and Arua. Similar regional trainings are planned this year in Lira, Mbarara, Fort Portal, and Masaka as part of the Bank’s commitment to strengthening enterprise capacity across Uganda.
“The SME sector is the engine that drives growth in our economy, which is why we focus on empowering it,” said Francis Mwesigye, Director of Economic Research and Knowledge Management and Chief Economist at UDB, during the graduation ceremony in Mbale. “Through this flagship intervention, we aim to equip entrepreneurs with practical skills and tools to start, strengthen, and scale their businesses. The program also positions participants to access UDB’s tailored financial solutions and compete effectively in today’s market.”
Mwesigye noted that SMEs make up about 90% of Uganda’s private sector, contribute roughly 80% of manufacturing output, and employ over 2.5 million people. However, only around 30% of these enterprises survive beyond their third year of operation. “This highlights the sustainability challenges many Ugandan businesses face,” he added. “As a development bank, we are deliberately addressing these gaps by helping entrepreneurs build resilient and sustainable enterprises—aligning directly with our mandate to improve the quality of life for Ugandans.”
Richard Magola, proprietor of Richie Hotels and Safaris and one of the program’s beneficiaries, shared his experience: “Before joining the EDP, I was operating informally without registration or proper records. I struggled with basic business principles. Since completing the training, I have organized my operations, drafted a business proposal, registered my business, pay taxes, and already see the benefits of professional management.”
The EDP equips participants with essential skills in management, corporate governance, record keeping, marketing, human resources, risk and financial management. The comprehensive training draws on UDB’s extensive experience in financing and monitoring enterprise growth, and is implemented in collaboration with key partners 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).
