Uganda Development Bank (UDB) has graduated 32 Small and Medium Enterprises (SMEs) in Mbarara District under its Enterprise Development Program (EDP) reinforcing its commitment to nurturing Uganda’s business sector through practical training, mentorship, and investor readiness support.
The graduation which took place at Makerere University Business School’s (MUBS) Mbarara Campus marked the culmination of a two month incubation program delivered in partnership with the MUBS Entrepreneurship, Innovation and Incubation Centre (EIIC). It aimed to equip local entrepreneurs with the tools and skills needed to run efficient, formal, and scalable businesses.
Out of the 46 enterprises that enrolled in the training, 32 successfully completed the course and were awarded certificates. These SMEs operate across a wide range of sectors, including agriculture, manufacturing, services, infrastructure and oil and gas.
“SMEs account for about 90 percent of Uganda’s private sector and contribute more than 75 percent of our GDP. They are the backbone of our economy,” said Joshua Allan Mwesiga, UDB’s Director of Strategy and Corporate Affairs.
He noted that while many SMEs hold potential they face recurring barriers such as informality, poor financial practices, lack of proper documentation and limited access to credit. Through the EDP, UDB is offering tailored business development services to help entrepreneurs overcome these constraints particularly targeting women, youth and other underserved business owners.
The program delivered sectorspecific masterclasses, business advisory sessions, mentorship opportunities and interactive short courses in areas such as bookkeeping, tax compliance, marketing, human resource management, governance and investment readiness.
Since its inception, the Enterprise Development Program has supported 329 SMEs across Uganda, reaching regional hubs such as Kampala, Gulu, Mbale, Lira, Arua, Fort Portal, and now Mbarara. The program also works closely with key ecosystem partners including the Uganda Registration Services Bureau (URSB), Uganda Revenue Authority (URA), Uganda National Bureau of Standards (UNBS), Uganda Investment Authority (UIA), National Social Security Fund (NSSF), and Uganda Women Entrepreneurs’ Association Limited (UWEAL) to support SME formalization and growth.
UDB says it remains committed to enhancing business sustainability, formalization and access to finance for SMEs while aligning with Uganda’s broader development agenda.