Uganda Development Bank (UDB) has launched a lucrative digital economy platform to connect startups, SMEs, and large corporations with investors and lenders.

The RISE Platform (Reshaping Industries for a Sustainable Economy), supported by the Chairman of the Bankers Association, aims to foster innovation and drive sustainable industrialization.

Speaking at the launch on Thursday, March 20, 2025, Arshad Rab, CEO and Chairman of the International Sustainability Council, encouraged businesses and innovators to take part.

“RISE is more than just a platform; it is a movement for big ideas and bold solutions. If you have a breakthrough solution that can address today’s economic, social, or environmental challenges, this is where you belong,” Arshad Rab said.

Arshad Rab, in calling on innovators, entrepreneurs, and industrial players to step forward and be part of this transformative journey, insisted that financial institutions must actively seek and support game-changing ideas that have the potential to transform industries and improve lives.

He emphasized the power of collaborative action between technology providers and seekers to break down barriers and create stronger partnerships.

“Engineering companies should form groups or consortia to drive affordable and sustainable industrialization. Together, we can build industries that are not only profitable but also beneficial for society and the environment,” Arshad Rab stated.

Patricia Ojangole, the Managing Director of UDB, reinforced the bank’s commitment to sustainable development.

She explained that the initiative was the main objective for the placement of sustainable food systems, industrialization, and services at the heart of the bank’s investment strategy.

Stephen Hamya, Chief Internal Auditor at UDB, described the launch as a turning point for sustainable financing in Uganda.

“Today, we are not just launching a platform; we are opening doors to new opportunities. This marks the beginning of a new way of thinking about financing,” Hamya said.

“In the months and years to come, we will hear incredible success stories of businesses that started their journey through RISE. These will be stories of progress, transformation, and real impact,” he added.

RISE enables financial institutions to identify and support businesses with high-impact potential. This approach allows UDB to fund projects that create jobs, improve livelihoods, and drive economic transformation.