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 the Green Impact project.
Mariah Kizza, the Project Management Assistant Gender and Inclusion said that 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.
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
According to Kizza, the project shall be for 24 months from January 2023 to December 2024, targeting 25 MSMEs/SMEs in Soroti City, Uganda.
In Africa alone, buildings and building related activities account for 32% of Carbon dioxide emissions. Yet the building stock in the continent is set to double by 2050 while the global material usage will be more than double by 2060.
A third of this rise will be due to increasing demand for construction building materials.
GGGI highlighted a number of key barriers to green entrepreneurship and innovation at start up or incubation stage.
“Limited education or training on entrepreneurial skills, limited access to mentorship and technical , managerial support, and limited knowledge on financing sources and access, as well as how to apply to private investment opportunities,” said Kizza.
Kiiza further revealed that to address the challenges, the project shall promote green buildings development in African Green Cities through policy, entrepreneurial and business practice support entrepreneurship. Additionally, innovation, entrepreneurship, and access to financing are definitive factors in terms of boosting green entrepreneurship and green economy in Uganda.
The target is to have at least 50% of the selected enterprises owned or founded by women and youth.
Other stakeholders of the project include, Uganda Investment Authority, Uganda Freezones Authority, and National Building Review Board.
Global Green Growth Institute -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.