The National Social Security Fund (NSSF), in partnership with the Mastercard Foundation, has awarded UGX 3.3 billion in seed funding to 45 women-led businesses under its Hi-Innovator program.
Each selected business will receive UGX 75 million, pending a due diligence process to ensure they meet the program’s operational and compliance standards.
The funding follows a competitive pitching session held in Kampala, where 56 women-led enterprises presented before a panel of experienced entrepreneurship experts.
The Hi-Innovator initiative, implemented by Outbox, is designed to support small and growing businesses (SGBs) in Uganda to become scalable and sustainable enterprises. The selected businesses represent key sectors including agriculture, digital economy, light manufacturing, tourism, health, green business, and Edtech—industries identified for their high growth potential and impact.
Derrick Sebbaale, representing the NSSF Head of Strategy, said the initiative highlights the growing influence of women entrepreneurs in shaping Uganda’s economic future.
“We are proud to witness women entrepreneurs leading the way and shaping the future of their businesses,” Sebbaale said. “We are committed to empowering these businesses to cement their operations, drive sustained economic growth, and make a lasting impact on the nation’s development.”
This latest funding round brings the total number of women-led businesses supported by the Hi-Innovator program to 249. In a previous round, 32 enterprises received UGX 1.1 billion in funding.
Richard Zulu, Founder of Outbox, explained the strategic focus of this round.
“This round of selections was guided by the potential of these industries to create dignified and sustainable employment opportunities, particularly for youth and women, who are critical drivers of Uganda’s economic transformation,” he said.
Since its launch in 2021, the Hi-Innovator program has supported 390 businesses with over UGX 28 billion in funding. The initiative has created 224,755 jobs and strengthened Uganda’s entrepreneurial ecosystem through financial support, technical training, and mentorship.
Sebbaale reaffirmed the program’s ambition to reach 500 businesses by the end of 2025, underscoring its long-term commitment to innovation and inclusive economic growth.
