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Uganda Development Bank (UDB) together with its partners, United Nations Development Programme (UDNP) and Kabale University, have launched the Kabale University Business Incubation Centre (KABBIC), a multidisciplinary innovation hub designed to foster entrepreneurship, innovation, and business development in the Kigezi region.<\/p>\n
The hub aims to address challenges faced by potato farmers, processors, and other stakeholders in the Irish potato value chain by offering innovative solutions, capacity-building opportunities, and improved market access.<\/p>\n
During the launch, Hajji Muzamiru Mukwatampola who represented the Permanent Secretary of the Ministry of Education and Sports, Dr. Kedrace Turyagyenda, emphasized the need to leverage Uganda\u2019s population 78% of whom are below the age of 30.<\/p>\n
\u201cThis is both an opportunity and a challenge. The youth must turn ideas into opportunities to drive national development. The incubation centre will create jobs, promote local industrialization, and help farmers overcome challenges such as transportation and post-harvest losses,\u201d Hajji Muzamiru Mukwatampola told guests.<\/p>\n
Prof. Joy Kwesiga, the Vice Chancellor Kabale University said the centre was initiated to answer the question of how universities can help young people in job creation to solve the problem of unemployment in Kigezi sub-region.<\/p>\n
\u201cThis centre will specifically promote entrepreneurship and incubation support, skilling programs, research and commercialization and community engagement. The business incubation centre model shall combine both equity and fee-based approaches to ensure its sustainability while nurturing start-ups that can eventually stand on their own,\u201d Prof. Kwesiga said.<\/p>\n
UDB will provide financial support, including loans for inputs, storage facilities, and transportation, to farmers and entrepreneurs in the Irish potato value chain. The Bank will also equip farmers with financial literacy training on loan management and investment in value addition.<\/p>\n
Through its collaboration with Kabale University, UDB will ensure farmers and entrepreneurs receive the technical support and access to equipment needed to qualify for financing. The five-year Potato Value Chain Programme is projected to significantly boost production of value-added Irish potato products, create approximately 10,000 jobs, strengthen food security, and benefit an estimated 150,000 farmers.<\/p>\n
The collaboration between UDB, UNDP, and Kabale University remains vital for pooling resources, expertise, and networks to foster sustainable agricultural development.<\/p>\n
\u201cOur partnership reflects our commitment to inclusive and sustainable industrialization. By investing in initiatives such as the Potato Value Chain Programme, UDB will support farmers by giving them the financial and technical support they need to meet the quality standards required by major offtakers,\u201d said Alexander Nsaba, Senior Investment Officer \u2013 Primary Agriculture at UDB during the event.<\/p>\n","protected":false},"excerpt":{"rendered":"
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