Centenary Bank’s Enterprise Finance Summit spotlights smart financing for Ugandan SMEs

Centenary Bank, in partnership with the African Guarantee Fund (AGF), Wednesday to the inaugural Enterprise Finance Summit at the Mestil Hotel in Kampala  under the theme “Empowering Enterprise Growth through Smart Financing Options.”

The summit gathered business owners, financial experts, and partners to address critical challenges and showcase tailored financing solutions for Small and Medium Enterprises (SMEs) in Uganda.

The summit underscored Centenary Bank’s commitment to fostering a robust SME ecosystem, recognizing its vital role in national development.

Setting a thought-provoking tone, Keynote Speaker Charles Ocici, Director General of Enterprise Uganda, delved into the intricacies of Uganda’s entrepreneurial landscape.

He highlighted the persistent “missing middle” phenomenon, the often short lifespan of brands, and the stark realities entrepreneurs face when seeking loans.

Ocici reminded the audience that banks are crucial enablers for stretching entrepreneurial potential, urging them to cultivate a strong culture of meticulous record-keeping, analytical decision-making, and the vital separation of personal and business finances.

Centenary Bank Managing Director, Fabian Kasi, reaffirmed the bank’s dedication to empowering SMEs, which he described as “the heart of Uganda’s economic growth,” driving job creation and poverty reduction, particularly among women and youth.

Acknowledging that access to affordable financing remains a major challenge, Kasi emphasized the strategic importance of their collaboration with the African Guarantee Fund.

“Our partnership with the African Guarantee Fund is essential,” he stated, “enabling us to extend greater support to SMEs and women-led enterprises.”

He added that the summit aims to highlight financial solutions, foster meaningful connections, and strengthen the SME ecosystem for sustainable growth, positioning Centenary Bank as a trusted partner in advancing inclusive development.

Alvin Ochieng from the African Guarantee Fund lauded Centenary Bank for convening the summit and brought a sharp focus to Africa’s staggering $42 billion gender financing gap.

He revealed that despite women driving 60% of entrepreneurship across the continent, they receive a mere 7% of start-up funding. Ochieng showcased the significant impact of the joint AFAWA (Affirmative Finance Action for Women in Africa) initiative, which has already channeled over $200 million in loans to Ugandan entrepreneurs while also bolstering capacity through training programs, trade finance seminars, and women’s business forums.

He stressed that “true success lies not only in financing but in businesses grown, jobs created, and communities transformed,” urging women and business leaders to seize these opportunities.

Further enriching the discussions, 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 for business growth, including issues of honesty and limited credit access.

She strongly urged women entrepreneurs to be responsible borrowers – ensuring loans are manageable, purposeful, and strictly aligned with their business needs, prioritizing necessities over wants to build scalable and sustainable enterprises.

Dr. John Walugembe, Senior Consultant with the World Bank, encouraged entrepreneurs to embrace technological advancements like Artificial Intelligence (AI), increase their market visibility, foster collaboration with peers, and build strong, transparent relationships with banks to propel business growth.

The summit concluded with engaging discussions between panelists and the audience, which brought to light critical insights and actionable solutions for advancing enterprise financing.

Key themes included the indispensable role of robust partnerships and open communication, the importance of ongoing dialogue, strengthening relationship management, deeper engagement with SMEs, creating greater value for women entrepreneurs, support for cost and investment structures, and encouraging SMEs to diligently understand all loan documentation.

The inaugural Enterprise Finance Summit firmly reinforced Centenary Bank’s commitment, in partnership with the African Guarantee Fund, to be a trusted partner in expanding access to finance, empowering women and underserved communities, and fostering inclusive development for Uganda’s vibrant enterprise sector.