By Guest Writer
Women entrepreneurs benefiting from the Government of Uganda’s Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project have been encouraged to leverage financing and business support to build sustainable enterprises, create jobs and contribute to Uganda’s economic growth. The call was made during a Women Borrowers Engagement organised by dfcu Bank in partnership with the Ministry of Gender, Labour and Social Development, the Private Sector Foundation Uganda (PSFU), the World Bank and the GROW Project implementation team.
The engagement brought together women entrepreneurs who have accessed financing under the programme, alongside representatives from Government, development partners and the private sector, to share experiences and discuss opportunities for business growth.
Addressing participants, Margaret Karume, Executive Director and Chief Credit Officer at dfcu Bank, challenged women entrepreneurs to view themselves not only as business owners but also as employers and contributors to Uganda’s economic transformation. She noted that when women grow their businesses, they create jobs, strengthen families and support communities. Karume encouraged beneficiaries to use the financing strategically, maintain proper records and separate business finances from personal expenditure to build stronger, sustainable enterprises.
The discussions highlighted the programme’s growing impact, with dfcu having disbursed more than UGX 24.2 billion to 496 women-owned enterprises across Uganda. Beneficiaries have used the financing to acquire productive assets, expand operations and strengthen businesses across sectors including agriculture, trade, manufacturing, education and business services.
Speaking at the engagement, Annette Kiconco, Chief Retail Banking Officer at dfcu Bank, said GROW was designed to address barriers that have historically constrained the growth and productivity of women-owned enterprises. She noted that while access to affordable financing remains critical, sustainable growth also depends on strong business practices, financial discipline and access to the right support.
Funded by the World Bank and implemented by the Ministry of Gender, Labour and Social Development in partnership with PSFU and participating financial institutions, GROW combines access to finance with business development services, mentorship, training and market linkages. More than UGX 160 billion has been disbursed to over 10,000 women entrepreneurs through participating financial institutions, with the programme targeting 60,000 women-owned enterprises by December 2027.
Representing the Minister of State for Gender, Labour and Social Development, Hon. May Kuteesa Kamuli, GROW National Coordinator John Ssengendo said the programme was established not simply to provide financing, but to support sustainable enterprises capable of generating employment and improving livelihoods. He also encouraged financial institutions to recognize productive movable assets, including equipment, inventory and machinery, when considering collateral.
PSFU Chief Executive Officer Stephen Asiimwe urged women entrepreneurs to invest in productive businesses that create value and employment, noting that sound record keeping and financial management remain critical for businesses seeking additional financing and future growth opportunities.
GROW Project Coordinator Dr Ruth Aisha Biyinzika Kasolo encouraged women whose enterprises are growing to professionalize their operations by recruiting competent staff, separating business and personal finances, accurately accounting for costs and profits, and developing succession plans.
With participation in the GROW Project, dfcu builds on nearly two decades of support for women entrepreneurs through its Women in Business programme, established in 2007. Through financing, mentorship, business advisory services and initiatives such as Rising Woman, the Bank has supported more than 80,000 women entrepreneurs across Uganda. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
