Eight Ugandan businesses focused on addressing climate change have been chosen to participate in the inaugural phase of the Climate Finance Accelerator Uganda (CFA), a program sponsored by the UK government. These businesses, selected from over 160 applications, span sectors such as waste management, transportation, energy, and agriculture, with a combined funding request of over USD 90 million.
Each of these businesses will receive personalized support and guidance from financial and technical experts to strengthen their projects and increase their potential for attracting investment. This support includes assistance with financial modeling, pitch preparation, and enhancing gender equality and social inclusion aspects within their projects.
Following capacity-building sessions, the businesses will have the opportunity to engage with international, UK, and Uganda-based investors and financial institutions at a final event in Kampala in March 2024, facilitating potential investment opportunities.
British High Commissioner Kate Airey commended the quality of the selected projects, highlighting the UK’s commitment to supporting promising investment opportunities in climate-related initiatives in Uganda. She also emphasized the importance of gender equality, noting the strong representation of women in the leadership teams of these businesses.
Amanda Kabagambe, Managing Director of Bethel Advisors, the implementers of CFA Uganda, expressed confidence that the selected businesses will contribute to Uganda’s sustainable green transition. She also emphasized the significance of empowering female entrepreneurs and promoting their access to affordable capital.
The selected projects encompass a range of innovative solutions, including renewable energy integration, waste-to-energy facilities, electric vehicle fleets, and sustainable agriculture practices. These initiatives aim to drive positive environmental impact, enhance operational efficiency, and empower local communities across Uganda.
