KAMPALA, UGANDA – Centenary Bank and the African Guarantee Fund (AGF) have officially kicked off a strategic partnership to tackle the financing challenges faced by Uganda’s small and medium-sized enterprises (SMEs), a critical driver of the country’s economy.
The two institutions hosted their first Enterprise Finance Summit on Wednesday at Mestil Hotel in Kampala under the theme “Empowering Enterprise Growth Through Smart Financing Solutions.” The event brought together over 100 stakeholders, including SME owners, policymakers, and development partners.
This summit follows a December 2023 partnership agreement between Centenary Bank and AGF aimed at expanding affordable financing for SMEs, especially those led by women and youth.
Centenary Bank Managing Director Fabian Kasi emphasized the central role SMEs play in Uganda’s development.
“SMEs create employment and support livelihoods across the country. They form a major part of our financing portfolio, with over 150,000 businesses currently served,” Kasi noted.
He added that the bank’s commitment to SMEs remains unwavering, given their contribution to reducing unemployment and poverty in Uganda.
A key focus of the summit was improving financial inclusion for women entrepreneurs, who often face additional barriers in accessing capital. According to the 2023/2024 Uganda National Household Survey, 31% of households are led by women highlighting the need for inclusive financial solutions.
AGF’s Capacity Development Officer, Alvin Ocheng, praised the initiative’s potential impact:
“Improving SME access to financing especially for women-led businesses will unlock entrepreneurial potential and drive sustainable economic growth,” he said.
Centenary Bank also showcased its SME-targeted products, such as the Cente Supawoman program for women entrepreneurs and the GROW loan, designed to support micro and small businesses in scaling up.
The summit aimed to connect SMEs with practical financing options, while also fostering networking and collaboration among stakeholders in Uganda’s enterprise ecosystem.
The Centenary Bank–AGF partnership is expected to roll out further financing initiatives in the coming months, reinforcing the role of SMEs in national economic development.