Kampala, 14 September 2021, Equity Bank Uganda Limited and the Uganda Green Enterprise Finance Accelerator (UGEFA) have established new partnership for the provision and expansion of green financing portfolio in Uganda.As a UGEFA Partner Bank, Equity Bank will support over 200 SMEs, who are members of UGEFA in doing green businesses. The 200 have undergone a 6-month finance-focused UGEFA Catalyser programme for business development. This partnership between Equity Bank and UGEFA affirms the role of banking institutions in supporting green enterprises in Uganda. The partnership will boost green financing in the domestic green SME ecosystem.Speaking durig the signing of the partnership, Equity Bank Uganda Executive Director Banking Operations Mr. Anthony Kituuka said “With the glaring negative effects of climate change affecting the entire world, protection of the environment and sustainable use of our natural resources is key to all our interventions. We believe that the battle of environmental protection cannot be won by government alone. Equity, a financial corporate citizen is cognizant to its role in sustainable financing and strategically provides its infrastructure and expertise, to accelerate and scale programs and projects aimed at protecting our planet.”Energy is a key driver for activities in manufacturing, agriculture, transport, in households, institutions and industrial operations. Generation of energy using conventional technologies has led to adverse Green House Gas emission and pollution to the environment. Equity Group Holdings Plc whose purpose is to transform lives, give dignity and expand opportunities for wealth creation continues to play a leading role in supporting businesses access affordable and suitable clean energy for all, which is the focus of SDG No. 7.
Despite the availability of cleaner and more efficient energy solutions, majority of households, businesses, institutions and industries lack knowledge on such solutions or cannot access or afford to invest in them. As the world stares at a climate change catastrophe, supporting businesses to go green will help them to be more resillient and environmentally sustainable.
“Equity Group, is addressing these challenges by increasing awareness of the benefits of a more greener economy and encouraging SMEs to adopt cleaner production processes and operations that protect our planet“ said Eric Naivasha Associate Director Equity Group Foundation.The Equity Group has committed $220 million for climate financing to facilitate access to clean energy generation, adoption and purchase of innovative clean energy technologies that directly impact peoples’ health, incomes and the environment.UGEFA’s collaboration with financial institutions fosters a community of practice among financial institutions and other stakeholders to provide green lending to SMEs and support creation of green jobs.