MARU Credit, in partnership with Enterprise Uganda launched its inaugural Business Incubator Program, a strategic initiative designed to empower small and medium-sized enterprises (SMEs) across
Uganda.
Small and Medium Enterprises are the backbone of Uganda’s economy.
According to the Uganda Bureau of Statistics, SMEs account for approximately 90 percent of the private
sector and contribute more than 80 percent of manufactured output.
The sector employs over 2.5 million Ugandans, making it a critical driver of income generation and economic resilience.
Despite their importance, nearly half of SMEs do not survive beyond their fifth year.
Limited access to affordable finance, weak financial management systems, poor record-keeping, and governance gaps remain among the leading causes of business failure.
The inaugural three-day workshop is taking place from February 25–27, 2026, at Enterprise Uganda in Kampala.
The fully sponsored program has attracted strong interest, with 80 entrepreneurs signing up to participate in this first cohort.
The overwhelming response underscores the demand for structured enterprise development support among Uganda’s SME community.
The three-day program combines entrepreneurial mindset development with practical financial and operational tools.
Participants undergo training in leadership and governance, entrepreneurial mindset, and leading in uncertain environments.
The curriculum also covers the fundamentals of business finance, including bookkeeping and record-keeping, basic accounting and reporting, business planning, budgeting, forecasting, sources of capital, and working capital management.
Speaking at the official opening, Joshua Mazune, Managing Director of MARU Credit, emphasized the institution’s long-term vision for SME transformation.
“Ugandan SMEs do not fail for lack of ambition; they fail for lack of structure. At MARU Credit, we are not merely financing businesses; we are building bankable enterprises. This incubator represents a deliberate shift from simply lending capital to cultivating financially disciplined, investment-ready entrepreneurs who can scale sustainably, create jobs, and compete confidently in Uganda’s evolving economy,” he said.
In her opening remarks, Enterprise Uganda’s Rosemary Mutyabule added, “Our core mandate is to support businesses, and we do so through strong partnerships.
The MARU Incubator will help demystify access to capital while enabling entrepreneurs to gain a deeper understanding of their businesses and strengthen their readiness for growth.”
As a financial institution serving entrepreneurs across Uganda, MARU Credit has observed that many businesses seek funding before establishing proper bookkeeping systems, cash flow discipline, or governance structures.
Recent data from the Bank of Uganda shows that access to formal credit remains constrained for many small enterprises, largely due to inadequate financial documentation and risk management practices.
By strengthening internal systems and improving financial literacy, the incubator prepares SMEs to become investment-ready and bankable.
Grace Kwagala, an entrepreneur who is starting an international school, said that she was excited to participate in the MARU Incubator.
She said, “I want to gain more knowledge in the areas of financial literacy and cash-flow management.”
Kafumba Peter, an entrepreneur in the agri-solutions sector and one of the program participants, shared his motivation for joining the incubator: “As someone who has grown my agri-solutions business without ever taking a loan, I realized there is still a lot I need to understand about structured financing and debt management. I want to learn how to use credit strategically—not just access it, but manage it responsibly to scale sustainably.”
In addition to technical training, the program incorporates structured networking opportunities, mentorship engagement, and post-training work plans to support implementation beyond the classroom.
This inaugural cohort marks the beginning of what MARU Credit intends to establish as a recurring platform for SME growth, supporting entrepreneurs not only with capital but with capability.
Applications for future cohorts will be announced in the coming months.
