aBi Finance, partners launch Sustainable Finance Curriculum

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The Governor of the Bank of Uganda, Dr Michael Atingi-Ego, has lauded aBi Finance Limited and partners for launching a sustainable finance curriculum, which he described as a landmark in Uganda’s effort to align its financial systems with the United Nations Sustainable Development Goals and the Paris Agreement on climate change.

He emphasised that the global financial sector is at a crossroads where responsible growth must take precedence over short-term profit. David Kalyango, the Head of Supervision at Bank of Uganda, delivered his message.

This was during the launch of the initiative at the Sheraton Hotel in Kampala last week, developed by aBi Finance Ltd in partnership with the Uganda Institute of Banking and Financial Services (UIBFS), with support from the Royal Danish Embassy, the European Union, and Impact Fund Denmark.

“Previously, environmental, social and governance factors were often viewed as well-intended add-ons or burdens on the balance sheet. This mindset is economically obsolete,” he said.

He underscored Uganda’s acute vulnerability as a predominantly agricultural economy, noting that 72% of the workforce rooted in farming faces systemic shocks from climate volatility, prolonged droughts and catastrophic floods.

Research indicates that without decisive climate-focused investment, Uganda’s gross domestic product stands to contract by more than 3.1% by 2050.

While Uganda’s financial sector has demonstrated resilience, a 2022 Bank of Uganda analysis revealed a critical gap. While 22 of 30 supervised financial institutions offered ESG-related products, not a single bank was performing environmental and social stress testing.

“This gap represents not just a regulatory blind spot, but a strategic vulnerability threatening the very stability we have worked to achieve,” the governor said.

Mona Muguma-Ssebuliba, the chief executive officer of aBi Finance, noted that the program seeks to close a critical skills gap by equipping financial institutions, regulators, and development partners with tools to integrate environmental, social, and governance (ESG) principles into lending, investment, and risk management decisions.|

“This curriculum is a strategic blueprint for transformation. Our goal is to build a financial sector that is profitable, principled, and purposeful, one that mobilises capital for projects that protect natural systems, uplift communities, and foster economic resilience.”

The curriculum, a first of its kind in Uganda, comprises 11 thematic units covering areas such as sustainable investment classification, climate risk assessment, social inclusion, governance standards, green financial products, and innovation in financial technology.

It also includes modules on monitoring, reporting, and verification to help institutions identify and prevent greenwashing, a growing global concern in sustainable investing.

According to Goretti Masadde, the CEO of the Uganda Institute of Banking and Financial Services, the launch comes at a pivotal moment for the country’s financial sector.

“The global financial landscape is changing. It is no longer enough to fund growth; we must finance the future. This curriculum will help Uganda’s banks, insurers, and investors embed sustainability into the DNA of their operations,” Masadde said.

Masadde said the program reflects a collaborative process that brought together key regulators, including the Bank of Uganda, the Insurance Regulatory Authority, and the Uganda Microfinance Regulatory Authority, as well as private-sector players such as the Uganda Bankers Association and the Capital Markets Authority.

The curriculum also aligns with Uganda’s broader policy framework, including Vision 2040, the National Climate Finance Strategy, and the Green Growth Development Strategy. Officials said it would help bridge the financing gap for climate adaptation and green projects in Uganda, where demand for sustainable investment is rising but financial literacy and regulatory guidance remain limited.