Uganda Development Bank (UDB) and partners have launched the Incubator Program second phase under Enterprise Development Product (EDP) to prepare enterprises to become investor-ready. The launch took place on Wednesday at Uganda Management Institute in Kampala.

The Director Strategy and Corporate Affairs, Allan Mwesiga, said the program is a commitment by the bank to foster sustainable socio-economic development.

Babara Kasekende, the Head of Business Advisory at UDB, said the program is is aimed at increasing their footprint and impact on Ugandan businesses across the country through Business development services. She said the program will help entrepreneurs develop the knowledge and skills necessary to grow and sustain their businesses.

“The program will offer training with a customized curriculum designed for Ugandan businesses and cater to the specific needs of the enterprises and the environment in which they operate,” she said.

According to Dr Sarah Kyejjusa of Makerere University Business School, the objective of the Enterprise Development Product is to reduce poverty while protecting the natural environment, promote industrialization in Uganda and to build a sustainable food system for Uganda.

The incubator program will have a hybrid approach that will be implemented by UDB and Makerere Business School Entrepreneurship Innovation and Incubation Centre (MUBS EIIC) for a period of 3 to 9 months.