{"id":10971,"date":"2023-12-19T17:03:14","date_gmt":"2023-12-19T17:03:14","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=10971"},"modified":"2023-12-19T17:03:20","modified_gmt":"2023-12-19T17:03:20","slug":"stanbic-uganda-holdings-usadf-line-up-funding-of-usd-400000-seed-money-for-local-entrepreneurs","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/stanbic-uganda-holdings-usadf-line-up-funding-of-usd-400000-seed-money-for-local-entrepreneurs\/","title":{"rendered":"Stanbic Uganda Holdings, USADF Line-Up Funding Of USD 400,000  Seed Money  For Local Entrepreneurs"},"content":{"rendered":"\n<p><strong>By Zulfah Namatovu<\/strong><\/p>\n\n\n\n<p>Twelve (12)  Ugandan entrepreneurs have been awarded USD 400,000 in seed funding  in a partnership between the United States African Development Foundation (USADF) and Stanbic Uganda Holdings Limited (SUHL).<\/p>\n\n\n\n<p>Under the five-year USD 2 million dollar partnership  development grants will be extended  to Micro, Small and Medium sized enterprises (MSMEs), Cooperatives, and producer groups\u00a0 in Uganda . The grants are meant to improve capacity and organizational  systems  meet investment requirements by commercial investors.<\/p>\n\n\n\n<p>The program will fund MSMEs whose past investment proposals to financial institutions have been declined. The primary aim is to help the MSMEs address the gaps and challenges they face in qualifying for investments, link them to Stanbic Uganda and other financial institutions for potential follow-up on post grant commercial investment.<\/p>\n\n\n\n<p>Each grant under the partnership will be valued up to USD 40,000 per MSME and will be implemented within a period of 12 to 24 months.<\/p>\n\n\n\n<p>USADF is pooling resources with SUHL\u2019s anchor subsidiary Stanbic Bank. Stanbic Business Incubator Limited (SBIL), also a subsidiary of SUHL, are the implementers of the project.\u00a0 Each partner will be contributing $200,000 over each of the five years. This investment ceiling will be reviewed every year with possibilities of increasing it to $500,000 per year by each part<\/p>\n\n\n\n<p>Since its inception in 2018, Stanbic Incubator has contributed to the growth of over 3,800 SME\u2019s around the country.<\/p>\n\n\n\n<p>Executive Director and Head of Business Banking at Stanbic Bank, Mr. Emma Mugisha, said, \u201cthrough this partnership,\u00a0 we are motivated and excited by the prospect of supporting Small and Medium Enterprises(SMEs) in the process of investment readiness through provision of grant capital and technical assistance.\u201d<\/p>\n\n\n\n<p>\u201cOur aim is to catalyse agricultural growth in Uganda by empowering SMEs, cooperatives and producer groups operating within the agricultural sector for this first cohort. We shall support other mainstream sectors including but not limited to Energy, Health, construction, and other professional services that are aligned to Uganda\u2019s National Development Programs,\u201d Mugisha stated.\u00a0<\/p>\n\n\n\n<p>Director of Program Operations for Africa at USADF, Timothy Nzioka,  expalined that the accelerator program aims at making the SMEs &#8220;investor ready&#8221; by providing the necessary tools that help them address the challenges.\u00a0&#8221; We are looking at SMEs that are able to provide employment opportunities, those that are able to do value addition, amongst others.\u201d<\/p>\n\n\n\n<p>The program will fund MSMEs whose past investment proposals to financial institutions have been declined. The primary aim is to help the MSMEs address the gaps and challenges they face in qualifying for investments, link them to Stanbic Uganda and other financial institutions for potential follow-up on post grant commercial investment.<\/p>\n\n\n\n<p>Each grant under the partnership will be valued up to USD 40,000 per MSME and will be implemented within a period of 12 to 24 months.<\/p>\n\n\n\n<p>Director General of the Uganda Investment Authority (UIA) , mr.Robert Mukizasaid, said thus : &#8220;As SMEs, look beyond the Ugandan market.\u00a0 In Uganda, we are about 45 million people on average but we are part of East African Community and Africa at large, which have bigger market bases.\u00a0 You can end up becoming global leaders if you harness the huge market in Africa and beyond.\u201d\u00a0<\/p>\n\n\n\n<p>Tony Otoa, the Chief Executive at SBIL said, \u201cAs Stanbic Uganda Holdings, we believe that Uganda is our home, we drive her growth. Therefore, as the Incubator, we are proud to be part of Uganda\u2019s economic growth through supporting SMEs who are the main revenue contributors to the country\u2019s economy.\u201d<\/p>\n\n\n\n<p><strong>Editor:msserwanga@gmail.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Zulfah Namatovu Twelve (12) Ugandan entrepreneurs have been awarded USD 400,000 in seed funding in a partnership between the<\/p>\n","protected":false},"author":1,"featured_media":10973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24],"tags":[],"class_list":["post-10971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/12\/Screenshot_20231218_223125_Gmail-750x375-1.jpg","jetpack-related-posts":[{"id":16426,"url":"https:\/\/prowebinhost.com\/anzu\/billionaires-africa-ranks-the-10-richest-investors-on-the-uganda-securities-exchange-in-2026\/","url_meta":{"origin":10971,"position":0},"title":"Billionaires.Africa ranks the 10 richest investors on the Uganda Securities Exchange in 2026","author":"UgandaUpdate","date":"February 8, 2026","format":false,"excerpt":"A 34% rally has lifted Uganda\u2019s Securities Exchange\u2014still a market where a few liquid stocks and a small circle of investors drive most of the action. Uganda\u2019s Securities Exchange may be small by global standards, but it consistently tells a familiar story: a few liquid counters drive most trading, and\u2026","rel":"","context":"In &quot;National News&quot;","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/02\/IMG_9436.webp","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/02\/IMG_9436.webp 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/02\/IMG_9436.webp 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/02\/IMG_9436.webp 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/02\/IMG_9436.webp 3x"},"classes":[]},{"id":10924,"url":"https:\/\/prowebinhost.com\/anzu\/standard-bank-group-names-francis-karuhanga-new-chief-executive-stanbic-uganda-holdings\/","url_meta":{"origin":10971,"position":1},"title":"Standard Bank Group Names Francis Karuhanga New Chief Executive Stanbic Uganda Holdings","author":"UgandaUpdate","date":"December 15, 2023","format":false,"excerpt":"By Zulfah Namatovu in Kampala The Standard Bank Group has named Francis Karuhanga as the new Chief Executive for Stanbic Uganda Holdings (SUHL), the listed entity under which Stanbic Bank is operated, alongside four other subsidiaries\u2014Stanbic Properties Limited, SBG Securities, StanbicBusiness Incubator, and FlyHub. Patrick Mweheire, the Standard Bank Group\u2026","rel":"","context":"In &quot;National News&quot;","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/12\/Francis-Karuhanga-Press-Image.png","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/12\/Francis-Karuhanga-Press-Image.png 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/12\/Francis-Karuhanga-Press-Image.png 1.5x"},"classes":[]},{"id":10591,"url":"https:\/\/prowebinhost.com\/anzu\/economic-empowerment-prison-officers-to-get-free-financial-literacy-training-from-stanbic-bank\/","url_meta":{"origin":10971,"position":2},"title":"Economic empowerment: Prison officers to get free financial literacy training from Stanbic Bank","author":"UgandaUpdate","date":"November 16, 2023","format":false,"excerpt":"By Our Reporter Prison Officers and their spouses will get free financial literacy training from one of Uganda's leading banks Stanbic Bank Uganda. The program is designed to enhance the prison officers personal economic progress. The programme which was launched on Wednesday by Stanbic Bank in partnership with the Uganda\u2026","rel":"","context":"In &quot;National News&quot;","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/11\/DSC_6811-scaled.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/11\/DSC_6811-scaled.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/11\/DSC_6811-scaled.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/11\/DSC_6811-scaled.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/11\/DSC_6811-scaled.jpg 3x"},"classes":[]},{"id":1958,"url":"https:\/\/prowebinhost.com\/anzu\/stanbic-bank-in-ugly-image-as-seniour-managers-grab-morgaged-property\/","url_meta":{"origin":10971,"position":3},"title":"STANBIC BANK IN UGLY IMAGE AS SENIOR MANAGERS GRAB MORTGAGED PROPERTY","author":"UgandaUpdate","date":"September 27, 2020","format":false,"excerpt":"One of Uganda\u2019s leading commercial\u00a0 banks ,Stanbic bank risks having its image and reputation dented forever after senior managers allegedly sold to themselves -on the cheap -a prime property that was mortgaged by a client. Ms.\u00a0 Beatrice \u00a0Odongo a director of \u00a0McDowell on September 23rd filed a \u00a0\u00a0written complaint to\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/09\/Stanbic.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/09\/Stanbic.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/09\/Stanbic.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/09\/Stanbic.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2020\/09\/Stanbic.jpg 3x"},"classes":[]},{"id":11360,"url":"https:\/\/prowebinhost.com\/anzu\/stanbic-bank-cuts-interest-rates-in-new-oil-sorted-campaign\/","url_meta":{"origin":10971,"position":4},"title":"Stanbic Bank cuts interest rates in new \u2018oil sorted\u2019 campaign","author":"UgandaUpdate","date":"January 29, 2024","format":false,"excerpt":"Kampala, Uganda \u2013 January 29, 2024 To stimulate economic activity, Stanbic Bank Uganda has announced a new lending campaign dubbed Oli Sorted, aimed at facilitating Ugandans to access affordable credit to finance their personal and commercial needs. Israel Arinaitwe, the Head of Personal Banking at Stanbic Bank said after the\u2026","rel":"","context":"In &quot;Oil and gas&quot;","block_context":{"text":"Oil and gas","link":"https:\/\/prowebinhost.com\/anzu\/category\/oil-and-gas\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/01\/dogo2-scaled.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/01\/dogo2-scaled.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/01\/dogo2-scaled.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/01\/dogo2-scaled.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/01\/dogo2-scaled.jpg 3x"},"classes":[]},{"id":14606,"url":"https:\/\/prowebinhost.com\/anzu\/postbank-to-change-name-to-pearl-bank\/","url_meta":{"origin":10971,"position":5},"title":"PostBank to change name to Pearl Bank","author":"UgandaUpdate","date":"June 11, 2025","format":false,"excerpt":"The shareholders of PostBank Uganda have approved a resolution to change the company's to Pearl Bank Uganda Limited, in a move aimed at aligning with the bank\u2019s strategic growth agenda and national pride. The rebrand is now subject to regulatory approval by the Bank of Uganda. This development was announced\u2026","rel":"","context":"In &quot;National News&quot;","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/06\/PostBank-AGM-2025.webp","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/06\/PostBank-AGM-2025.webp 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/06\/PostBank-AGM-2025.webp 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/06\/PostBank-AGM-2025.webp 2x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pc0aOV-2QX","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/10971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/comments?post=10971"}],"version-history":[{"count":1,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/10971\/revisions"}],"predecessor-version":[{"id":10974,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/10971\/revisions\/10974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media\/10973"}],"wp:attachment":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media?parent=10971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/categories?post=10971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/tags?post=10971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}