Eight Ugandan businesses have been selected to participate in the first phase of the Climate Finance Accelerator Uganda (CFA), a UK-sponsored programme aimed at developing and financing large-scale climate projects.

The projects, which are from the waste, transportation, energy, agriculture, forestry, and land sectors, are looking for more than USD 90 million in funding.

Each company will receive one-on-one support and advice from financial and technical experts to help strengthen their projects and increase their chances of attracting investors.

In March 2024, the projects will hold an event in Kampala to meet with international, UK, and Ugandan investors and financial institutions.

The British High Commissioner, Kate Airey, expressed enthusiasm for the quality of the projects chosen for the first cohort of CFA Uganda as well as the private sector’s commitment to addressing the climate emergency.

The eight selected projects are Clean Energy Partnership for Africa (CEPA), Kyamuhunga Tea Company, NLS Waste Services, Protone Energies, Silverfleet, Kwanza Infrastructure Group, Umeme Limited, and Zembo Motorcycles Limited.

The Climate Finance Accelerator is a technical assistance programme funded by the UK Government’s International Climate Finance in the Department for Energy Security and Net Zero. It aims to provide promising investment opportunities in the critical area of climate change and to assist Ugandan businesses in their growth.