UGEFA Impact Assessment 2024

The Uganda Green Enterprise Finance Accelerator (UGEFA) has made significant strides in addressing the financing needs of green small and medium-sized enterprises (SMEs) in Uganda since its inception in 2020. This report highlights the impact of UGEFA, which has provided capacity building to 206 enterprises and facilitated 88 loans totalling UGX 26.9 billion (EUR 7 million; USD 7.3 million) as of June 2024. UGEFA's efforts have supported SME resilience and growth, with 70% of SMEs meeting or exceeding growth expectations, and an average year-on-year increase in revenue of 38% from 2019 to 2022. The project has integrated funding facilitation approaches using blended finance to support an increased volume of green finance through financial institutions and increased access to finance for green SMEs, with 58% of SMEs being first-time borrowers. Support to Business Development Service (BDS) providers has resulted in 95% of BDS providers now offering tailored support to green SMEs. Overall, UGEFA has transformed Uganda's green entrepreneurial ecosystem by increasing the availability and quality of tailored support, fostering collaboration and, most importantly, increasing access to finance.