Enterprise Uganda’s Rose Mary Mutyabule (L) witnesses the hand over of a certificate to one of the beneficiaries of the training
HABARI DAILY I Kampala, Uganda I Efforts to strengthen Uganda’s small and medium enterprise (SME) sector are increasingly shifting toward grooming a new generation of financially disciplined business managers, with experts emphasizing that access to capital alone is not enough to guarantee growth.
This approach was underscored during the inaugural Business Incubator Program organised by MARU Credit in partnership with Enterprise Uganda, which focused on equipping entrepreneurs with critical financial management and governance skills.
Held at the Enterprise Uganda training centre in Butabika, the three-day intensive programme brought together entrepreneurs from diverse sectors for practical, hands-on training. The initiative aimed to address a persistent gap in Uganda’s business landscape—limited managerial capacity, particularly in financial planning and accountability.
According to Joshua Mazune, the programme marks the beginning of a long-term strategy to build resilient enterprises. “Growth isn’t accidental. It is built on systems, governance, and financial clarity,” Mazune said, stressing that entrepreneurs who understand their finances and structure their operations effectively are better positioned for sustainable expansion.
Participants underwent structured modules covering bookkeeping, financial reporting, budgeting, forecasting, governance, tax compliance, and human resource management. The sessions were deliberately interactive, allowing entrepreneurs to engage directly with trainers and develop solutions tailored to their businesses.
Industry experts say such training is critical in nurturing competent financial managers within SMEs—individuals capable of making informed decisions, managing risks, and ensuring efficient use of resources.
Ronald Mukasa noted that while Ugandan entrepreneurs are naturally innovative, they often lack the technical skills needed to sustain growth. “Uganda’s entrepreneurs are innovative and resilient, but resilience must be matched with capability,” he said. “When businesses adopt proper governance, maintain accurate records, and plan strategically, they significantly increase their chances of survival and growth.”
The emphasis on financial discipline comes against a backdrop of widespread challenges facing SMEs, including poor record keeping, weak governance structures, and limited access to affordable financing. These constraints, according to Charles Ocici, continue to undermine the sector’s potential.
“These constraints often limit growth, weaken resilience, and increase vulnerability to economic shocks,” Ocici said, urging entrepreneurs to prioritise integrity, disciplined growth, and prudent financial management. He cautioned against premature expansion and misuse of business funds, advising trainees to focus on building strong foundations before scaling up.
For many participants, the training proved transformative. Peace Kwagala said the focus on bookkeeping had reshaped her approach to business. “I have not been managing my records effectively before, but now I understand how proper bookkeeping will help me make better decisions and run my business more transparently,” she said.
Similarly, Anita Mugisha highlighted the importance of integrating financial management with modern business practices such as digital marketing. She noted that maintaining a strong online presence is essential for growth and customer retention in today’s competitive environment.
Beyond technical skills, the incubator also fostered leadership development and peer learning, with structured networking sessions enabling entrepreneurs to build partnerships and share experiences. Such collaboration is increasingly viewed as key to strengthening business resilience.
MARU Credit officials observed that many entrepreneurs rush to seek financing without first establishing the internal systems needed to manage growth effectively, often resulting in misallocation of funds and eventual business failure. By contrast, training programmes that prioritise financial literacy and governance are helping to cultivate a new cadre of business leaders capable of managing capital responsibly.
With plans to roll out more cohorts, the initiative signals a growing recognition that Uganda’s economic transformation will depend not just on funding SMEs, but on equipping them with skilled financial managers who can drive sustainable growth.
