Brussels – Supporting the Ugandan economy, with a particular focus on women-led businesses and micro-enterprises located in rural areas. Since the launch of the new partnership between EIB Global, the specialised division of the European Investment Bank (EIB) set up to manage activities and partnerships outside the European Union, and the Ugandan bank Centenary Bank, some 24,000 micro-enterprises in Uganda have benefited from the investments provided for under the agreement between the two.
Signed in 2024, the agreement aims to provide €100 million, equivalent to 428 billion Ugandan shillings, over a period of seven years to micro-enterprises with fewer than ten full-time employees. More specifically, it provides for a €50 million EIB credit line to the Ugandan bank specialising in microfinance, which will in turn contribute an equivalent amount. According to the latest figures, women account for over 60 per cent of beneficiaries, exceeding the 50 per cent target set out in the agreement. Seventy-five per cent of the projects are in rural areas, again exceeding the target threshold of 60 per cent. Among the sectors receiving the most funding is trade (60 per cent), followed by agriculture (40 per cent). On this point, the chief executive of Centenary Bank, Godfrey Byekwaso, explained that the partnership’s support “has helped to bridge local financing gaps,” offering “a better opportunity to serve and grow small businesses, successfully integrating them into the formal system.” In addition to the economy, the partnership also extends to refugees in Uganda from countries such as the Democratic Republic of the Congo and South Sudan. Consequently, of the loans disbursed in 2025, 200 were allocated to refugees to help them achieve greater economic independence.
To date, the credit line for Centenary Bank represents the largest microfinance loan granted by EIB Global in a country within the Africa, Caribbean, and Pacific region. In total, since 1981, EIB Global has disbursed over €388 million here to support private sector enterprises, focusing primarily on agriculture and gender equality. The partnership also aims to contribute to the EU’s Global Gateway strategy for sustainable development by boosting investment in agricultural value chains in Uganda, promoting job creation and supporting rural development.
English version by the Translation Service of Withub
