UDB equips Mbarara SMEs on Credit access and sustainable operations
By Solomon Lubambula
Uganda Development Bank Ltd (UDB) has graduated a new cohort of Small and Medium Enterprises (SMEs) in Mbarara District under its Enterprise Development Program, equipping them with the skills and knowledge needed to become investor-ready.
Through business advisory services, UDB prepares both start-ups and established enterprises to access financing from financial institutions and sustain their operations.
The programme is implemented in collaboration with Makerere University Business School’s Entrepreneurship, Innovation and Incubation Centre and runs in a hybrid format, offering training, capacity building, business incubation and acceleration, sector-focused master classes, structured short courses, and strategic partnerships.
In the 2025 Mbarara cohort, 46 enterprises enrolled in the incubation programme, with 32 successfully graduating after completing an intensive two-month training. The businesses cut across agriculture, manufacturing, services, infrastructure, and the oil and gas sector.
Speaking at the graduation ceremony held at Makerere University Business School, Mbarara Campus, UDB Director for Strategy and Corporate Affairs, Joshua Allan Mwesiga, said SMEs account for about 90 percent of Uganda’s private sector and contribute over 75 percent to the country’s GDP. He noted that while SMEs are the backbone of the economy and a key driver of job creation, studies show that two out of three start-ups in Uganda fail within their first year.
Mwesiga added that through its Special Programmes, UDB continues to implement targeted interventions, including dedicated financing schemes for SMEs, youth, and women, to address challenges such as limited collateral, informality, and inadequate business readiness.
One of the programme beneficiaries, Emmanuel Muhanguzi, said the training addressed critical gaps in bookkeeping, market analysis, and risk management. He added that the beneficiaries were introduced to accounting software that enables them to track capital inflows and outflows by simply entering data, with the system generating detailed financial reports.
