The Stanbic Business Incubator Limited (SBIL) has entered into a landmark partnership with the Embassy of France in Uganda to implement a two-year Green Tech Incubator and Accelerator for Entrepreneurship Program, targeting youth and women-led start-ups in Uganda’s emerging green economy.
Funded through a new grant agreement signed this week, the project is valued at €687,833, with the French Embassy contributing €450,000 (approximately Shs1.8 billion). The first installment of €131,351 is expected to be disbursed shortly. SBIL will co-finance the remaining €237,833, representing 34.5% of the total program cost.
Speaking at the signing held at the French Embassy in Kampala, French Ambassador Virginie Leroy said the initiative will support over 200 micro and small enterprises in green sectors such as sustainable cities, green mobility, circular economy, renewable energy, waste management, water and health, and smart agricultural technologies.
“This project aims to strengthen capacities, enable access to finance and markets, and create an ecosystem where youth and women-led businesses in the green space can thrive,” Ambassador Leroy stated.
Stanbic Business Incubator CEO, Catherine Poran, welcomed the partnership and said the funding will help accelerate green innovation in Uganda by equipping at least 300 entrepreneurs with tools to pilot and scale solutions, and directly training over 1,000 entrepreneurs — at least 60% of whom will be women and youth.
“We are grateful to the French Embassy for supporting our vision to transform Uganda through entrepreneurship. This investment will drive sustainable, inclusive growth,” Poran said.
Founded in 2018, the Stanbic Business Incubator is the enterprise development arm of Stanbic Uganda Holdings Limited, part of the Standard Bank Group, Africa’s largest banking group by assets.
SBIL has supported over 11,400 entrepreneurs with training in strategy, financial and risk management, and helped facilitate access to finance and markets.
The initiative will be rolled out across the Kampala Metropolitan Area and the Albertine Region, with a focus on businesses in the green economy.
The acceleration phase (3–6 months) will support 130 SMEs to develop coherent business plans, marketing strategies, and human resource recruitment plans. Simultaneously, 130 homesteads (50% women, 30% youth) will gain essential knowledge and networks to expand their operations and form strategic partnerships.
The incubation phase (6–18 months) will guide 70 selected entrepreneurs in the green tech space to improve their products, access innovation hubs, and develop robust go-to-market strategies.
To address financing gaps, at least 60 SMEs will access funding—grants, loans, or investments—through a €300,000 blended finance facility earmarked for the program.
The project builds on France’s ongoing efforts to support innovation and job creation in Uganda. In recent years, the French Embassy has backed a number of high-impact programs, including support for over 110 SMEs via SBIL, and training for 500 women and youth in hospitality and agroecology under the Youth Employability Project (2023–2025).
Other recent initiatives include the SPICE Project (2024–2025), which supports startups in cultural and creative industries—ranging from animation and video games to music and virtual reality.
Aaron Akampa, Head of Enterprise Banking at Stanbic Bank, emphasized the bank’s role in not only linking SMEs to training opportunities but also facilitating access to funding.
“Beyond training, liquidity is key. Alongside the Uganda Energy Credit Capitalisation Company, we have funding available to support these SMEs,” Akampa said. “Green finance is a top priority at Standard Bank Group over the next five years.”
Poran reaffirmed the bank’s long-standing commitment to Uganda’s development.
“From agriculture to infrastructure, every milestone represents livelihoods transformed. With this program, we’re extending that legacy into the green economy—empowering youth, women, and farmers to solve climate challenges and create new opportunities.”
