The Orient Bank Business Academy season one was concluded on Thursday 20th April 2017 with a graduation ceremony that was presided over by the Deputy Governor Bank of Uganda Dr. Louis Kasekende.
As part of the training, the small businesses were tasked to come up with growth plans for their businesses. The 5 businesses with the best growth plans were to win funding of up to UGX 30 million depending on the feasibility of their plans & their business needs.
2ambale, an e-commerce business, emerged the best student of the Orient Business Academy after developing the best business growth plan and was awarded 20 million shillings by the bank to grow their business.
Elma Foods, emerged second and were awarded 10 million shillings to grow their business.
Other businesses that were awarded funding were Happy Bee Honey, Mutundwe Chalk Factory and African Culture Leather Factory who walked away with 5 million shillings each.
Orient Bank has launched a business academy to provide Micro and Small Enterprises with business management training and financial support to enable them grow and contribute to Uganda’s job creation and economic development. Speaking at the launch of the academy, Orient Bank MD, Julius Kakeeto noted that although Uganda has the highest levels of entrepreneurship in the world, it also has one of the highest business failure rates with most business start-ups dying within 5 years. The Chief Guest at the launch was the Deputy Governor, Bank of Uganda, Dr. Louis Kasekende who commended Orient Bank for the initiative saying that SMEs are an engine of economic growth and must be supported by both government and the private sector. The academy that is being run in partnership with the Makerere University Business School (MUBS) – Entrepreneurship Centre will train 20 to 30 Micro and Small Businesses and provide business growth funding of up to 30 million shillings. Dr. Moses Muhwezi, the Deputy Principal, MUBS was also at the launch and he welcomed the partnership with Orient Bank.
Applications to the Orient Business Academy run from 5th to 23rd September at any Orient Bank branch in Kampala and Wakiso.