Centenary Bank, Uganda’s largest commercial microfinance bank, convened more than 100 business leaders, policymakers and entrepreneurs this week for the first Enterprise Finance Summit, an event aimed at helping small and medium-sized businesses gain access to financing.
The summit, held Sept. 10 at Mestil Hotel in Kampala, was organized with the African Guarantee Fund (AGF), a Pan-African institution that provides credit guarantees and financial products to banks in order to expand lending to small businesses. The event followed a December 2023 agreement between Centenary Bank and AGF to strengthen support for entrepreneurs across the country.
“Access to affordable financing remains a major challenge,” said Fabian Kasi, Centenary Bank’s managing director. “That is why our partnership with the African Guarantee Fund is essential, enabling us to extend greater support to SMEs and women-led enterprises.”
Kasi noted that small and medium-sized businesses form the backbone of Uganda’s economy, driving employment and poverty reduction, particularly among women and young people. He said the bank intends to use the summit to promote financial solutions, build networks and “strengthen the SME ecosystem for sustainable growth.”
Women-led enterprises were a recurring theme throughout the day. According to Uganda’s 2023–24 National Household Survey, 31 percent of households are headed by women. Yet female entrepreneurs often face higher barriers to credit, including limited collateral and systemic bias in the financial sector.
Alvin Ochieng of AGF pointed to the wider challenge across Africa. “While women drive 60 percent of entrepreneurship, they receive just 7 percent of start-up funding,” he said. Ochieng highlighted the AFAWA initiative — a joint program with the African Development Bank — which has so far delivered more than $200 million in loans to Ugandan businesses. The program also runs trade finance seminars and women’s business forums. “True success,” he added, “lies not only in financing but in businesses grown, jobs created and communities transformed.”
Other speakers, including World Bank consultant John Walugembe, urged entrepreneurs to adapt to new technologies such as artificial intelligence, seek visibility in markets and build stronger relationships with financial institutions.
Centenary Bank, founded in 1983 as a credit trust for rural communities, has a long record of working with small businesses. Its programs include Cente Supawoman, a product for women entrepreneurs, and GROW loans, which provide working capital. The bank also runs financial literacy training sessions across Uganda.
Panel discussions at the summit featured voices from Enterprise Uganda, Nshuti Financial Advisory Services and the Federation of Small & Medium Enterprises. Topics ranged from risk management to the role of “smart financing” in improving competitiveness.
For Centenary Bank and AGF, the meeting was the first in what they say will be a continuing series of efforts to bridge financing gaps and create new opportunities for Uganda’s growing base of entrepreneurs.
