Speaking as the chief guest at the Uganda Development Bank first cohort graduation of Enterprise Development Program, Col. Edith Nakalema, the head of SHIPU highlighted the indispensable role of strategic leadership in the evolution of MSMEs. In a call to action, she emphasized the critical need for micro, small, and medium enterprises (MSMEs) to adopt strategic leadership and robust business structures, urging them to identify sustainable markets as a cornerstone for growth and transformation into larger enterprises.

Col. Edith Nakalema stated that MSMEs remain stagnant not because of a lack of innovation or hard work, but because they haven't established the leadership and structures necessary for growth. She pointed out that without a clear strategy and the ability to adapt to market demands, businesses risk falling into a cycle of limited growth, unable to scale or reach broader markets. "Market hinders the progress of a business, you need to assess sustainable market for growth, but also leadership and a structured system help to identify how the business will grow, you should also build clear structures for good succession," Col. Nakalema remarked.

Col. Nakalema's message resonated with many in attendance, particularly as she outlined the steps necessary for MSMEs to transition from small-scale operations to larger, more impactful enterprises. "Our commitment to supporting these businesses reflects our belief in their potential to drive economic transformation and create a lasting impact. We eagerly anticipate today's graduates' positive contributions to our economy. I commend UDB for undertaking this novel intervention that aligns with their mandate to spur the country's socio-economic development, now that you are trained how to manage businesses I know you will do better an grow Into large businesses”.

According to the research from the International Labour Organisation, Uganda has over 1.1 million  micro, small and medium enterprises which contribute 80% to the national GDP. However, they have been affected by limited access to finance, market and information gap among others hindered their potential growth. Col. Nakalema further revealed that of the factors that hinder business growth, 42% are energy related challenges, 38% are tax related challenges adding that MSMEs rely on informal sources for financial assistance.

UDB Managing Director, Patricia Ojangole said the three-month incubation program saw acquire skills in how to ably grow and sustain their businesses. She explained that “It is not that there is no money. Funding is available but there are no bankable projects to get the funding. For example, UDB is capitalized but businesses are not ready to access this money. We therefore started this program to reduce stories of businesses starting and collapse in the first one or two years”.