IGANGA, Uganda – Hundreds of women entrepreneurs gathered in Iganga on Tuesday for a financial literacy and business growth workshop, part of Equity Bank’s “Abakyala ku Ntiiko” initiative.
Launched in March 2024, the program aims to empower women with financial management skills, improve access to financing, and foster business growth.
Why This Matters
Women entrepreneurs in Uganda often face significant barriers, including limited access to financial resources and business knowledge.
Equity Bank’s initiative addresses these challenges by providing tailored financial products and training to help women scale their businesses and achieve economic independence.
Ruth Nakaima, Deputy Speaker of Iganga Municipality, praised the program: “Equity Bank’s support has transformed the lives of many women by boosting financial literacy, enhancing confidence, and empowering them to step out of their comfort zones.”
Tailored Financial Solutions
Ronald Nakhasanga, Equity Bank’s Regional Manager, highlighted the bank’s commitment to supporting women entrepreneurs through products like:
- Equi Mama Business Loans: Designed for women aged 36 and above in registered groups, requiring no collateral.
- Youth Loans: Group-based financing for young entrepreneurs, ideal for ventures like boda boda purchases.
- Agri-Micro Credit Facility: Supporting agricultural businesses with accessible credit.
- EquiGreen Facility: Financing eco-friendly initiatives.
“When we bring women together, we show them that they are the roots of this nation. Through financial literacy and tailored products, we empower them to take charge of their economic future,” Nakhasanga said.
Success Stories
Several women shared how Equity Bank’s programs have transformed their businesses. For instance, some who previously operated informal businesses are now using loans to expand their inventory.
Others have embraced digital banking solutions, enabling seamless transactions and savings for future investments.
Barbara Namata, Equity Bank’s Relationship Supervisor for Group Lending, emphasized the importance of these micro-products: “Our offerings, like the Micro Loan and Asset Financing, are designed to meet the unique needs of women and young entrepreneurs.”
Networking and Collaboration
The workshop also provided networking opportunities, allowing women to learn from each other and explore potential collaborations.
This peer-to-peer learning is a key component of the “Abakyala ku Ntiiko” initiative, fostering a supportive community of women entrepreneurs.
The “Abakyala ku Ntiiko” drive will continue across Uganda, with upcoming workshops in Lira (March 25) and Kiboga (March 28).
These sessions aim to reach more women, equipping them with the tools to thrive in their businesses and contribute to the nation’s economic growth.
