Over 24,000 Ugandan Micro-Businesses Receive Financing from EIB Global in Partnership with Centenary Bank
EIB Global and Centenary Bank have successfully provided financing to over 24,000 micro-enterprises in Uganda during the first year of their partnership. The initiative focuses on supporting rural businesses and female entrepreneurs, with a significant portion of funds directed toward trade and agriculture.
Why it matters
This partnership demonstrates the impact of international development finance on local economic growth and financial inclusion for underserved populations in Africa.
Over 24,000 micro-enterprises in Uganda received financing in the first year of a new partnership between the European Investment Bank Group’s development arm, EIB Global, and domestic lender Centenary Bank.
The EIB Global-Centenary Bank agreement, signed in 2024, aims to make €100 million (428 billion Ugandan shillings) available to private-sector enterprises in Uganda over seven years, with a focus on businesses led by women and on micro-enterprises located in rural areas. The accord involves an EIB Global credit line of €50 million to Centenary Bank, which specialises in microfinance and is matching the sum.
In latest figures, women represented more than 60% of beneficiaries – above a target of 50%, according to the first annual disbursement report. In addition, 75% of projects financed were in rural areas, exceeding a 60% goal. Trade was the leading sector, financed at 50%, followed by agriculture at nearly 40%.
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