UDB invests Shs 95 billion in Lango to boost regional economic growth
According to the UDB Annual Report 2024, the annual output of enterprises financed by the Bank grew by 3.2 percent year-on-year, from approximately Shs 5.9 trillion in 2023, to about Shs 6 trillion in 2024
LIRA CITY, November 12, 2025 — The Uganda Development Bank [ UDB ] has invested more than Shs 95 billion in 30 key projects across the Lango Sub-region as part of efforts to spur economic growth and industrialisation.
Speaking at the recent graduation ceremony of 34 small and medium enterprises [SMEs] under UDB’s Enterprise Development Programme at Lira University, the Bank’s Director of Investment, Andama Mahamoud, described the Lango sub-region as “the industrial hub of Northern Uganda and a major contributor to the national economy.”
Andama commended the region’s growing economic significance, noting that Lango serves as a food basket for the neighbouring West Nile Subregion and plays a crucial role in Uganda’s industrialisation and tax base. He revealed that UDB has channelled over Shs 95 billion into the sub-region over the past five years.
The Enterprise Development Programme equips SMEs with business management skills, mentorship, and investment-readiness training to enable them to access financing from UDB and other financial institutions. The training was conducted in collaboration with the Makerere University Business School [MUBS] Entrepreneurship, Innovation and Incubation Centre.
So far, 315 SMEs have benefited from the programme in Kampala, Gulu, and Arua, with additional regional training sessions planned.
“SMEs make up 90 percent of Uganda’s private sector and contribute over 75 percent to GDP,” Andama said, pledging continued support and mentorship for the new graduates.
He encouraged entrepreneurs to embrace innovation and technology as tools for solving community challenges and driving sustainable development.
“Think beyond the conventional. Use technology, creativity, and collaboration to address real challenges in your communities. Innovation is not just about new ideas—it’s about turning those ideas into action that adds value and drives impact,” he said.
Andama further urged the graduates to share experiences and form partnerships to scale up their enterprises.
“Share knowledge, build networks, and form partnerships with fellow SMEs. Together, you can unlock new opportunities, strengthen value chains, and amplify your impact. Collaboration is the bridge between small beginnings and big achievements.”
One of the programme beneficiaries, Patrick Ouni, praised UDB for the initiative, commending the high-quality training and selection of facilitators. He said the programme helped participants to identify their sense of purpose and develop a long-term business mindset.
“Many entrepreneurs start businesses simply because they see others succeed. This training has helped us to develop a clear vision and mission,” Ouni added.
UDB continues to invest in key sectors including agro-industrialisation, the creative industry, education, health, manufacturing, tourism and hospitality, primary agriculture, and infrastructure.
According to the UDB Annual Report 2024, the annual output of enterprises financed by the Bank grew by 3.2 percent year-on-year, from approximately Shs 5.9 trillion in 2023, to about Shs 6 trillion in 2024.
The UDB Managing Director Patricia Ojangole said the results demonstrate the Bank’s catalytic role in accelerating industrialisation and driving broad-based economic growth.
“This performance highlights the Bank’s pivotal role in transforming Uganda’s economy through inclusive and sustainable investment,” Ojangole noted.
https://thecooperator.news/landmark-us-30mln-disbursement-to-udbl-to-boost-economic-growth/
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