Stanbic Bank Secures 20 Million USD For Environmental Support
There are about nine sectors ripe for green business disruption including transport, building and construction, power, water and consumer goods,Otoa noted.
UGANDA - Stanbic bank has set a side a fund of 20m USD to facilitate advocates of the environment in particular the vegetation or the green plant cover.
In partnership with the french consulate to Uganda, the launch has been termed, " The Green Business Initiative," at Serena hotel on Wednesday in kampala.
The ceremony happens at a time when Stanbic bank concludes a 2 years' project known as ,"The Network for Innovation and Sustainability in Agriculture and Tourism," (NISAT), where over 100 small business owners have benefited, through various training programs, still being funded with a 435000 EUR from the France Embassy.
H.E Xavier Sticker, the ambassador of France to Uganda, at the same occasion addressed that as the project is getting closed, a new chapter is opening for the network and with it an opportunity to invent and reinvent innovative partnerships to enable the growth of green businesses and impact positively the societies.
The Chief Executive, Stanbic Business Incubator Limited (SBIL) Tony Otoa, informed journalists that, the Green Business Program will target ambitious entrepreneurs and innovators to help them and their teams define and capture the full potential of adopting the new ideas relevant to this sector.
However, this presents an enormous opportunity for visionary leaders to seed and grow new green businesses that will reshape the world for a sustainable future, he said.
"The Green Business Program is a five years project intending at guiding and supporting entrepreneurs in diminishing the negative effects of climate change on their businesses."
There are about nine sectors ripe for green business disruption including transport, building and construction, power, water and consumer goods,Otoa noted.
Others include agriculture and land use, green hydrogen fuels, waste management, and industrial products, he said.
The New Economy is here and it gives far-sighted entrepreneurs the opportunity to succeed with new products and services that reduce carbon emissions and help to transition Uganda’s economy to net-zero while creating thousands of green jobs, Nelson Kasadha, the Programs Manager SBIL described.
In lengthy comments, Kasadha added that through the Green Business Program, Stanbic Business Incubator Ltd has committed to building 200 Green Business national champions through training and coaching, and in collaboration with partners.
He explained that the project looks at creating and scaling sustainable businesses that drive Uganda’s energy transition and the pathway to net zero, developing the sustainability leaders of the future, improving the socio-economic wellbeing of Ugandans through proliferation of green energy products and services and finally increase the demand and supply of green jobs.
