By Isaac Wandubire
When the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) loan Project was introduced last year, its goal was to help women entrepreneurs expand their businesses and improve their livelihoods. Today, many women, especially from marginalized regions, are seeing the impact of this initiative and testifying to its success.
Women from areas such as Karamoja, Bukedi, and Busoga have praised the project for giving them the financial support they needed. Dr. Ruth Aisha Biyinzika Kasolo, the GROW Project coordinator at the Private Sector Foundation Uganda (PSFU), noted that Uganda has communities that are often overlooked, and the project was designed to reach such groups.
Among the beneficiaries is Edith Ruth Amongin from Soroti City, who received Shs19 million through Finance Trust Bank. She used Shs12 million to buy more farm produce during the October harvest season, ensuring a steady supply from farmers. The remaining Shs7 million was invested in her poultry business.
Lydia Wanyama, a maize flour trader from Kamuli in the Busoga region, also shared her success story. Before receiving a Shs10 million loan, she struggled due to limited capital. But with the funds, she increased her stock from 6 tons to 10 tons, expanded her customer base, and now supplies schools and wholesale stores. She hopes to start her own maize farm within the next two years.
During a recent Grow Project workshop attended by over 500 women entrepreneurs, the Minister of Gender, Labour, and Social Development, Hon. Betty Amongi, urged beneficiaries to repay their loans on time. This, she said, would allow more women to benefit.
The GROW Loan is available through Finance Trust Bank, Equity Bank, Centenary Bank, Stanbic Bank, and Post Bank. It comes with a 10% interest rate and is payable over 24 months. Many women believe this initiative is not just changing businesses but transforming lives. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
