UDB graduates Lira cohort of SMEs under enterprise development program

By Our Reporter

The Uganda Development Bank Ltd (UDB) has graduated a new cohort of 34 Small and Medium Enterprises (SMEs) in Lira District and City through its Enterprise Development Program (EDP), providing them with the skills and knowledge necessary to become investor-ready.

Andama Mahamoud, Director of Investments at the Bank said this support is provided through the Enterprise Development Program (EDP), which includes incubation, acceleration, and mentoring initiatives.

He said the training focused on capacity building and skill development was done in collaboration with Makerere University’s Business School Entrepreneurship, Innovation and Incubation Centre (MUBS-EIIC).

He added that the program is designed to equip and nurture selected private enterprises through targeted training and mentorship, enhancing their ability to secure financing from UDB and other financial institutions.

He noted that a total of 34 successfully graduated after completing two months training and that to date, 315 SMEs have been incubated across previous cohorts held in Kampala, Gulu, and Arua.

He added that this year, the Bank plans to hold similar regional training sessions in Mbarara, Fort Portal, and Masaka as part of its ongoing efforts to strengthen enterprise capacity throughout the country.

“SMEs make up 90% of Uganda’s private sector and contribute over 75% to our GDP. They are the backbone of our economy and a key driver of job creation. That’s why we invest in both financial and non-financial solutions to support their growth,” he said during the graduation ceremony held on Friday at Lira University.

He pledged that the Bank would continue to walk with the graduates, providing them with guidance and support as they apply what they have learned.

Andama further challenged businesses to embrace innovation.

“Think beyond the conventional. Use technology, creativity, and collaboration to solve real problems in your communities. Innovation is not just about new ideas—it’s about turning those ideas into action and add value to drive growth and impact,” he said.

“Share knowledge, build networks, and form partnerships with fellow SMEs. Together, you can unlock new opportunities, strengthen your value chains, and amplify your impact. Collaboration is the bridge between small beginnings and big achievements.”

Patrick Ouni, one of the programme’s beneficiaries, said the training has helped participants discover their personal sense of purpose. Many people start businesses simply because they see others succeed, which can lead to failures,” said Ouni, who runs Brixton Guesthouse, a hospitality establishment in Lira that offers accommodation, conference facilities, outside catering, and car washing services.

“We learnt marketing principles, business planning, human-centric and digital marketing skills, succession planning, governance among other sessions that we found to be valuable. So, I am not the same person that I was before joining EDP. The way I am looking at business is completely different,” he added.

‎‎Ouni adds that participants appreciated why tax compliance as well as business formalization are critical for any business to be bankable.

The EDP provides participants with essential skills in management best practices, corporate governance, record-keeping, risk management, marketing, human resources, and financial management, among others. This comprehensive approach lays a strong foundation for their future success, ensuring they are well-equipped to navigate market complexities and attract necessary investment for growth. This training is based on the Bank’s extensive knowledge of business, the operating environment, and experience gained from funding, implementing, and monitoring similar projects.

The program is implemented in collaboration with partners, including the Uganda Registration Services Bureau (URSB), Uganda National Bureau of Standards (UNBS), Uganda Revenue Authority (URA), Uganda Investments Authority (UIA), National Social Security Fund (NSSF), and Uganda Women Entrepreneurs’ Association Limited (UWEAL).

About Uganda Development Bank Limited

Uganda Development Bank Limited (UDB) is the country’s national Development Finance Institution (DFI) with a mandate to accelerate socio-economic development in Uganda through sustainable financial interventions. Consistent with this mandate, the Bank supports projects within the private sector that demonstrate the potential to deliver high socio-economic value, in terms of job creation, improved production output, tax contribution, and foreign exchange generation, among other outcomes.

These projects fall within the key priority sectors of our economy and in line with Uganda’s development priorities. The Bank’s financing interventions are mainly in Primary Agriculture, Agro-processing, and manufacturing which account for about 80%of its investment portfolio. The Bank however undertakes specific interventions in other sectors including Tourism, Human Capital Development, and Infrastructure including ICT.