Uganda Green Enterprise Finance Accelerator (UGEFA) and dfcu Bank Forge Alliance to Boost Green Economic Development

In a strategic move towards fostering green economic development in Uganda, the Uganda Green Enterprise Finance Accelerator (UGEFA) has announced a groundbreaking partnership with dfcu Bank. The collaboration, aimed at accelerating a sustainable transition to a green economy, is set to play a pivotal role in amplifying access to finance for small- and medium-sized enterprises (SMEs) driving environmental innovation in Uganda.

dfcu Bank, known for its commitment to transforming the Ugandan economy and enhancing the well-being of its citizens, has aligned its vision with UGEFA’s mission to bolster the green economy through SMEs and financial institutions working together to scale innovative products and services. The partnership signals a significant step forward in the shared commitment to sustainable development.

The collaborative efforts of dfcu Bank and UGEFA will facilitate the provision of credit to support SMEs operating in key sectors such as clean energy, green manufacturing, sustainable tourism, waste management, and green mobility and transportation. The overarching goal is not only to provide financial support but also to amplify the environmental impact generated by these SMEs while contributing to the creation of both direct and indirect jobs.

The partnership agreement was formalized on November 2nd through a signing ceremony attended by key representatives of both parties. Charles Mudiwa, CEO of dfcu Bank, and Sanne Willems, Head of Sustainable Development at the European Union Delegation to Uganda, represented their respective organizations during the ceremony held at the headquarters of dfcu Bank in Kampala. The agreement solidifies UGEFA’s position, with the European Union Delegation to Uganda as its donor and adelphi as its implementing organization.

In a statement at the partnership announcement, Charles Mudiwa, CEO of dfcu Bank, emphasized the significance of the collaboration in fulfilling the bank’s purpose of “Transforming Lives and Businesses in Uganda.” He expressed confidence in the partnership’s potential to enable responsible growth for businesses, benefitting multiple individuals, businesses, and communities.

Christine Meyer, UGEFA Project Lead, shared her sentiments, stating, “We are honored to welcome dfcu Bank to a community of committed role models financing change in Uganda. This partnership between dfcu Bank and UGEFA is poised to create lasting impacts, increasing access to finance for green SMEs and scaling green sector financing in Uganda.”

The alliance positions dfcu Bank among a select group of financial institutions leading the charge in driving environmentally sustainable initiatives in Uganda. The collaboration sets the stage for joint efforts to establish innovative green finance instruments, further facilitating access to finance for green SMEs and driving positive change in the country.