Since its launch in 2021, the UGEFA Green Finance Academy has made significant contributions to the banking sector. Bank staff have gained enhanced knowledge in green finance and green business models and are already developing strategies to integrate green finance practices into their business models.
By incorporating environmental considerations into their operations, banks not only mitigate environmental risks but also capitalise on emerging opportunities in the green economy. Embracing sustainability within the financial sector will allow financial flows to the private sector, specifically to the green economy sectors, amplifying the economic, social, and environmental impacts of green finance across Uganda’s economy.
In 2024 alone, over 75 bank staff from various departments and branches of these financial institutions were trained. To date, UGEFA has trained a total of 170 bank staff since its inception. Only this year, with the guidance of UGEFA green finance experts, 11 green finance products were co-created with participants. These tailored green finance products are in development and intended for deployment to support green small and medium-size enterprises (SMEs) in Uganda.
Empowering Uganda’s Green Economy
Being one of the most entrepreneurial countries in the world, Uganda has a significant number of SMEs innovating in green sectors. Therefore, the role of financial institutions in delivering green finance is increasingly important. adelphi’s Green Finance Academy has demystified how banks can jointly contribute to positive social, environmental, and economic impacts. This training has not only equipped bank professionals with the skills needed to navigate the complexities of green finance and enhance their competitiveness in both local and global markets but has also opened doors to emerging economies and reinforced Uganda’s commitment to building a resilient and green economy.
Evolving Uganda’s Financial Sector
The Green Finance Academy has significantly contributed to the evolution of Uganda’s financial sector. The staff of financial institutions now have a better understanding of green finance and green business models, areas previously untapped by financial institutions. This expertise enables them to develop and offer tailored financial products that support the green sectors.
Participants covered a range of topics including understanding green finance, green SMEs case study analysis, the green finance actor landscape, risks and opportunities, value proposition, challenge solution mapping, and green finance instrument design, among others. The level of engagement from participants demonstrated their dedication and interest in growing their green loan portfolios and creating impact.
Future Directions
It is clear that the number of professionals reached through the Academy so far is only a small fraction of the potential that the programme has. More staff and bank managers need to undergo this training for visible actions and impacts to be realised. adelphi’s Green Finance Academy remains committed to expanding its reach and enhancing the capacity of financial institutions to support Uganda’s green economy.
UGEFA is fully funded by the European Union Delegation to Uganda and is implemented by adelphi.
If you’re interested in further details on the Green Finance Academy, please contact info@ugefa.eu
