Friday, July 4, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
ADVERTISEMENT

Create a business environment that allows sustainable financing flow, Ugandan entrepreneurs told

by Margaret Nantongo | Reporter
03/08/2023
in News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter
Francis Kisirinya, the Chief Membership Officer for PSFU said that it is prudent that financers align their offerings with business needs.
Francis Kisirinya, the Chief Membership Officer for PSFU said that it is prudent that financers align their offerings with business needs.

KAMPALA – Uganda needs to work on a credible business pipeline to be able to attract the right kind of financing, financial experts have said.

Kenneth Kitariko, the project manager, access to finance with the European Union Delegation in Uganda says this is critical for creating a business environment that attracts sustainable financing.

Related posts

Rotary District 9213 Gov. Geoffrey Kitakule speaks at a press conference Tuesday at Protea Hotel Kampala.

New Rotary Governor Kitakule calls for collaboration as new year begins

01/07/2025
224

CNOOC Uganda, Chinese team hold medical camp in Kikuube District

01/07/2025
166
Flexipay cashback Trolley Dash winner Kyomuhendo Leticia ejoying her moment as she checked out of the supermarket

Stanbic Bank unveils FlexiPay cashback promotion to boost digital transactions

01/07/2025
164

Looming unemployment: Farmers, Residents in shock as NEMA boss orders the demolition of multi million chicken farm

30/06/2025
312

He made the remarks at the sustainable business for Uganda platform, a Business-Financier Meet platform that allows project promoters to familiarize themselves with Uganda’s different financing options and meet one-on-one with the key players in this space to showcase their investment projects while understanding how best to work with financiers.

The platform brought together over 100 seasoned entrepreneurs with investment projects who are searching for appropriate funding options in debt, equity, and leasing.

“We have a perennial problem in Uganda where we have not had a credible pipeline and it is important entrepreneurs have a good investment plan but more critically that they are able to pay back the money that they borrow to be able to grow and scale. For a long time in Uganda we have known that 20% of SMEs close in the first year, 30% in the second, 50% in the fifth year, and by the 10th year, 70% of the companies have closed. This means there is a lot of work to do,” Mr. Kitariko said.

He reaffirmed the EU’s commitment to supporting Ugandan entrepreneurs through various initiatives to nurture the growth of Uganda’s entrepreneurial ecosystem.

The Sustainable Business for Uganda Platform, a partnership between the European Union, the Government of Uganda, and the Private Sector Foundation Uganda is working collaboratively to improve access to finance for entrepreneurs and investors by addressing issues such as lack of information on available financing options. As such, the Sustainable Business for Uganda Platform (SB4U) is organizing a Business-Financier Meet to bring together promoters of viable projects and different classes of financiers, both bank and non-bank financiers.

Francis Kisirinya, the Chief Membership Officer for PSFU said that it is prudent that financers align their offerings with business needs.

“One of the challenges that Ugandan businesses face is access to finance as most of the financing comes from families. Whereas there are other forms of financing from commercial banks and equity among others, these are very limited to make any big change. One of the reasons we mostly have financing from families is a lack of awareness. Many financiers have failed to align their offerings with the business needs, leave alone make awareness,” Kisirinya said.

“Many times, the financiers use one coat fits all method. They have a product and whoever walks in is given that kind of financing. Sometimes products are mismatched with businesses and in the end businesses don’t succeed. This is a call to financers to understand customers and their business better and design the appropriate financing for them,” he said, urging entrepreneurs to always honour contracts they sign with financers.

“There are contracts agreed between entrepreneurs and financers but one thing we had noticed is that some of the financed don’t comply with agreements they sign. That’s why in some cases you see companies failing to pay back their loans on the agreed dates when they could even afford it. It is very important for both the financer and the person being financed to negotiate and agree on the terms of these contracts. This helps in how the relationship works,” Kisirinya said.

“In some cases, borrowers divert money into doing one thing not specified while getting the finances. It is therefore important that if agreements are signed, they are complied with.”

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: FeaturedUganda

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
305

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
618
Minister of Health Dr. Ruth Aceng and Permanent Secretary Dr. Diana Atwiine pay their respects at the burial of Dr. Joshua Musinguzi, a champion in the fight against HIV/AIDS in Uganda. Their presence honors his legacy and dedication to improving healthcare in Uganda.

 FULL LIST: Health Service Commission Shortlists Applicants for Key Roles

18/06/2025
1k
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
497
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4364 shares
    Share 1746 Tweet 1091
  • How to Renew Your National ID Online: NIRA Pre-Registration Portal 2025 Guide

    3942 shares
    Share 1577 Tweet 986
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2662 shares
    Share 1065 Tweet 666
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3323 shares
    Share 1348 Tweet 823
  • How to Check PLE Results 2024 on Phone, Online

    1783 shares
    Share 713 Tweet 446
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1650 shares
    Share 660 Tweet 413
  • MPs clear govt to cancel 2020 academic year

    2796 shares
    Share 1150 Tweet 686

Recent Articles

Deo Akope

June Real Stars Awarded

03/07/2025

Hon. Kasolo nominated for NRM Vice Chairperson, Buganda Region

03/07/2025
Sandra Nabakka, Day Light Solar Energies

Day Light Solar Energies selected for The Safe Water Accelerator 2025

03/07/2025
George William Kiyingi, PostBank's Head of Agent Banking and Fintech Distribution, highlights how the Wendi digital wallet has surpassed UGX 1 trillion in PDM disbursements

Wendi Digital Wallet surpasses UGX 1 Trillion in PDM disbursements

03/07/2025
Mr. Richard Baguma addressing participants.

Government urged to prioritize Health sector in SDG 3

03/07/2025

Kakuru pledges to amplify voices of entrepreneurs after historic nomination

02/07/2025
Sheila Agaba (centre), the Business Manager at the Stanbic Business Incubator Limited, posing for a photo with other stakeholders at the event

Stanbic partners with GIZ to support women in green businesses in Uganda, Kenya and Tanzania

02/07/2025

Recent CommentsRecent Comments

  • The Journey of Ibrahim Traoré on How President Ibrahim Traoré’s ambitious vision is driving Burkina Faso’s economic growth push
  • Ugandan Scientists Finalists For European Inventors Prize — Press Uganda on Ugandan scientists finalists for European inventors prize
  • Government Pumps UGX1 Trillion Into UDB To Drive Industrialization, SME Growth — Press Uganda on Government pumps UGX1 Trillion into UDB to drive Industrialization, SME growth
  • PS Ggoobi Tips On Building USD 500b Economy — Press Uganda on PS Ggoobi tips on building USD 500b economy
  • Museveni Meets German Envoy Matthias Schauer After Subversion Claims — Press Uganda on Museveni meets German envoy Matthias Schauer after subversion claims

UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • June Real Stars Awarded
  • Hon. Kasolo nominated for NRM Vice Chairperson, Buganda Region
  • Day Light Solar Energies selected for The Safe Water Accelerator 2025
  • Wendi Digital Wallet surpasses UGX 1 Trillion in PDM disbursements
  • Government urged to prioritize Health sector in SDG 3
  • Kakuru pledges to amplify voices of entrepreneurs after historic nomination

OpED

HELLEN MASIKA: From Darkness to Solar Light in Kijumba 

Why de-register a Motor Vehicle in Uganda: and Consequences of Non-Compliance

Challenges of taxing law firms in Uganda

SHEILA ABOTH: Maternal healthcare must be everyone’s business because it takes a village

DARIUS NIWAHA KISHAHO: Securing Health After Retirement: Why a Post-Retirement Medical Cover is a Necessity, Not a Luxury

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d