French Embassy Teams up with Stanbic to Launch Green Tech Business Accelerator Program

Stanbic Bank in partnership with the French Embassy has launched the Stanbic Green tech Accelerator program.

The program under the Stanbic Business Incubator targets to support 200 businesses in Kampala and the Albertine region engaged in green technology and green enterprises by young women. 

The Stanbic Business incubator chief executive Catherine Poran noted that the program is proof that international cooperation and local innovation can drive meaningful change for sustainable growth 

Poran pointed out that  climate change is no longer a distant threat but a present danger which affects livelihoods. She however says Stanbic bank does not view climate change as a crisis but an opportunity to lead, innovate and empower which is why the green tech incubator is the perfect response as a platform for home grown green solutions and a pathway for inclusive sustainable economic growth.

“At Stanbic Uganda we have made a firm commitment to empower women, youth and farmers, the backbone of our economy through initiatives live ‘rising women’, ‘Stanbic for her’, youth entrepreneurship programs and agri business development, we continue to build capacity and expand opportunity. The greetech incubator and accelerator 

fulfills that component.” She remarked. 

The French ambassador to Uganda, Virginie Leroy stated that the priority of the French government is to support employment, education, and Ugandan startups and the incubator program run by Stanbic is the perfect vehicle to assist SMEs to expand and scale. 

She revealed that a previous incubator program from 2021-2023 successfully provided support to 110 MSMEs businesses engaged in Agro-ecology and eco-tourism. She however, indicated that the green tech accelerator project is more ambitious, aiming to provide support to 200 Startups in the green economy.

According to Stanbic Bank, 120 of the businesses will be selected from Kampala, while the remaining 80 will be selected from the Albertine region. 

James Kamara, representing the Stanbic CEO revealed that the bank has pledged together with partners to deploy up to 1 trillion shillings up to 2028.

He said the partnership with the French Embassy sits at the heart of the bank’s positive impact on the growth agenda, which focuses on women, youth and farmers as key drivers for social and economic transformation. 

“Through this agenda, we are intentionally directing our financial and non-financial resources towards financial inclusion, enterprise development, job creation, infrastructure development and climate resilience.” He remarked. 

He said the partnerships are designed to channel resources where they are most needed. He noted that millions of young people are full of potential, yet many struggle to find decent work and access to capital and to turn ideas into livelihoods. He says many have left the continent through dangerous avenues, and yet immigration policies abroad are sending back economic migrants. 

He announced that the partnership with the French Embassy gives young people a reason to stay and thrive here. He said France is addressing the migration crisis as a development challenge by helping to build sustainable enterprises and create jobs.

“We invite other stakeholders here, government, investors and the private sector to join us, together we can build a Uganda and a continent where every Ugandan, especially the young women and men have the opportunity to succeed at home and not abroad.”

The Stanbic Green Tech Accelerator is a two-year initiative by Stanbic Business

Incubator Ltd (SBIL) in partnership with the Embassy of France in Uganda. With a

budget of €450,000, the program targets 200 Green Tech SMEs to scale their

innovations in renewable energy, waste management, climate-smart agriculture, and

water management.