Kampala, Uganda: The Global Green Growth Institute (GGGI), and E4Impact Foundation with support from the Ministry of Foreign Affairs and International Corporation, Italy, have kick-started a partnership to implement the Business for Green Impact project.
The project shall be for 24 months from January 2023- December 2024, targeting 25 MSMEs/SMEs in Soroti City, Uganda.
The project will focus on institutional capacity strengthening of enterprises in the green buildings sub-sector through policy, adoption of an entrepreneurial and green development process. In Africa alone, buildings and building related activities account for 32% of CO2 emissions.
Mariah Kizza, Project Management Assistant Gender and Inclusion- Global Green Growth Institute/Courtesy Photo.
Yet the building stock in the continent is set to double by 2050 while the global material use will more than double by 2060. A third of this rise will be due to increasing demand for construction building materials.
Key barriers to green entrepreneurship and innovation at start up or incubation stage are currently limiting rapid growth in the building sector. These include: (1) limited of education or training on entrepreneurial skills, (2) limited access to mentorship and technical, managerial support, and (3) limited of knowledge on financing sources and access, as well as how to apply to private investment opportunities.
To address these challenges, the project shall promote green buildings development in African Green Cities through policy, entrepreneurial and business practice support entrepreneurship. Entrepreneurs need bold innovative solutions to the challenges of green buildings.
The proposed project is a continued effort to increase adoption of the green growth model among SMEs/MSMEs in the green building sector, as well as enhance the capacity of entrepreneurs to develop and sustain green businesses, thereby contributing to the local economic development while addressing climate change mitigation and adaptation.
Innovation, entrepreneurship, and access to financing are definitive factors in terms of boosting green entrepreneurship green economy in Uganda. GGGI together with E4Impact shall under component 1 of the project launch and introduce green entrepreneurship training program for 25 MSMEs/SMEs.
The target is to have at least 50% of the selected enterprises owned or founded by women and youth. To further boost local research, the project will document innovative solutions locally and internationally to be applied by MSMs/SMEs.
Also, 20 city council members of Soroti and 20 city technical personnel shall be key stakeholders to support the adoption and implementation of green building codes prior to approvals of the building plans. Other key stakeholders include Uganda Investment Authority, Uganda Freezones Authority, and National Building Review Board.
During the training, the Green 25 MSMEs/SMEs shall develop business model canvas for financial support, which can create over 200 green jobs. The project is expected to increase annual revenue of the MSMEs/SMEs in the green building sector; increase women’s participation in business and increase employment opportunities within green enterprises.
It will also lead to a growth of a socially inclusive transition to a green economy for Uganda’s cities, industrial diversification, economic competitiveness and green jobs for women and youth.
Also, the competitively selected enterprises that will join the program can expect to receive the following benefits:
Customized training program; on green building practices,
Technical Assistance to embed green building principles in the business model including strengthening the systems and processes,
Coaching and Mentorship – personalized and group coaching to unpack training into business implementation,
Links to financial and investment opportunities for scaling their green building ventures,
Networking and peer learning to strengthen innovations and build a community of best practices in green building industry,
Networking opportunities to showcase their solution and meet with investors and other stakeholders.
Partial scholarship to join the Global MBA in Impact Entrepreneurship offered by the Catholic University of Milan and Uganda Martyrs University (E4Impact MBA program).
About the Global Green Growth Institute (GGGI).
Based in Seoul, GGGI is a treaty-based international, inter-governmental organization- with 45 Members and over 20 countries and regional integration organization(s) in the process of accession – dedicated to supporting and promoting strong, inclusive, and sustainable economic growth in developing countries and emerging economies.
With operations in over 30 countries, GGGI serves the role of an enabler and facilitator of Members’ transition into a low-carbon green economy, providing policy advice and technical support in the development of green growth plans, policies and regulations, mobilization of green investments, implementation of green growth projects, and development of local capacities and knowledge sharing.