UDB graduates 34 SMEs in Lira under Enterprise Development Programme

November 1, 2025 in Companies, Trade & Industry by Editor

Uganda Development Bank (UDB) has graduated 34 small and medium enterprises (SMEs) from its Enterprise Development Programme (EDP) in Lira, equipping them with skills to improve management, attract investment, and strengthen their operations.

The EDP, run in partnership with Makerere University Business School’s Entrepreneurship, Innovation and Incubation Centre (MUBS-EIIC), focuses on training, mentorship, and business acceleration to prepare SMEs for financing from UDB and other institutions.

The Lira cohort enrolled 40 enterprises, with 34 completing the two-month hybrid course covering entrepreneurship, financial management, governance, marketing, and innovation. Graduates received certificates during a ceremony at Lira University’s Faculty of Management Sciences.

“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,” said Andama Mahamoud, UDB’s Director of Investments. “That’s why we invest in both financial and non-financial solutions to support their growth.”

Andama urged participants to use the knowledge gained to innovate and collaborate. “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 to drive growth and impact,” he said.

Since inception, the EDP has incubated 315 SMEs in Kampala, Gulu, Mbale, and Arua, with additional sessions planned for Mbarara, Fort Portal, and Masaka later this year.

One of the graduates, Patrick Ouni, proprietor of Brixton Guesthouse in Lira, described the programme as transformative. “The training has helped us discover our personal sense of purpose. We learnt marketing principles, business planning, digital marketing, governance, and succession planning. I’m not the same person I was before joining EDP—the way I look at business has completely changed,” he said.

The EDP integrates capacity-building partnerships with national institutions including URSB, UNBS, URA, UIA, NSSF, and UWEAL. Through this network, participants gain practical exposure to compliance, standards, and business formalization—key steps in becoming bankable and investment-ready.