KAMPALA, September 10, 2025 — Centenary Bank Managing Director, Fabian Kasi, has reaffirmed the bank’s commitment to empowering Ugandan small and medium enterprises [SMEs], emphasising that they are central to the country’s economic growth, job creation, and poverty reduction, particularly among women and youth.
Kasi acknowledged that access to affordable financing continues to be a significant challenge for SMEs in Uganda. “That is why our partnership with the African Guarantee Fund [AGF] is crucial, as it enables us to extend greater support to SMEs and women-led enterprises,” he said.
He made these remarks today during the inaugural Enterprise Finance Summit held today at Mestil Hotel in Kampala. The summit, hosted by the Bank in partnership with AGF, was held under the theme: “Empowering Enterprise Growth through Smart Financing Options.”
He explained that the summit’s goal was to highlight financial solutions, foster meaningful connections, and strengthen the SME ecosystem for sustainable growth. “Our bank remains a trusted partner in expanding access to finance, empowering women, and supporting underserved communities to advance inclusive development,” he added.
Insights on Uganda’s entrepreneurial landscape
The keynote speaker, Charles Ocici, Director General of Enterprise Uganda, shared valuable insights into Uganda’s entrepreneurial landscape. He discussed the ‘missing middle’ phenomenon, the short lifespan of new companies, and the challenges faced by entrepreneurs in securing loans.
Ocici stressed the importance of building a strong culture of record-keeping, analysing financial data to guide decision-making, and ensuring a clear distinction between personal and business finances.
“Banks are here to help you stretch your potential,” Ocici said, urging entrepreneurs to adopt sound financial practices and make informed decisions for long-term success.
Addressing the gender financing gap
Alvin Ochieng from the AGF also spoke at the summit, thanking Centenary Bank for hosting the event. He highlighted the urgent need to close Africa’s US$ 42 billion gender financing gap. He stated that while women drive 60 percent of entrepreneurship in Africa, they receive only 7 percent of start-up funding.
Ochieng also underscored the impact of the joint African Women’s Finance Initiative] [AFAWA], which has already provided over US$ 200 million in loans to Ugandan entrepreneurs. In addition to financing, AFAWA has contributed to capacity building through training, trade finance seminars, and women’s business forums.
True success, he stressed, is measured not only by financing but also by businesses grown, jobs created, and communities transformed. He urged women and business leaders to seize these opportunities and leverage available support.
Encouraging responsible borrowing and sustainable growth
Dr. Theopista Ntale Sekitto, Uganda Country Director at New Faces New Voices and Africa Ambassador at the Global Banking Alliance for Women, highlighted key challenges hindering business growth. These included honesty, limited credit access, and the importance of responsible borrowing.
She urged women entrepreneurs to ensure that loans are manageable, purposeful, and aligned with their business needs. “Focus on necessities, not luxuries,” she advised, stressing the importance of building sustainable enterprises that can withstand economic challenges.
Connecting stakeholders and empowering SMEs
The Summit brought together hundreds of stakeholders, including business owners, financial experts, and partners, to explore the Bank’s financing solutions for SMEs. Attendees were provided with valuable insights on how smart financing can unlock growth potential and empower enterprises across Uganda.
By fostering connections and sharing expertise, the event helped bridge gaps between SMEs and financial institutions, highlighting the essential role of financing in driving business success and sustainable economic growth.
SMEs) are vital to Uganda’s economy, contributing over 70 percent of the GDP and creating over 90 percent of jobs, dominating sectors like agriculture, manufacturing, and trade. Despite their importance, SMEs in Uganda face challenges like access to finance, lack of standardisation, and management skills, which are being addressed through policies and support initiatives from the government and private sector.
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