By Jumah Kakomo
The Government of Uganda is calling on women to take full advantage of entrepreneurship courses offered under the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project to acquire essential skills in managing loans, making informed investment decisions, and building profitable businesses.
This initiative, funded by the World Bank and implemented by the Ministry of Gender, Labour and Social Development (MGLSD) in partnership with the Private Sector Foundation Uganda (PSFU), aims to uplift female entrepreneurs and help them scale their businesses from micro to small, and from small to medium enterprises across Uganda, including in refugee-hosting districts.
Speaking at the opening of the GROW Loan Borrower’s engagement meeting in Kampala on Friday, the Minister for Gender, Labour and Social Development, Betty Amongi, emphasized the importance of financial independence for women, urging them to take charge of their financial futures. She said entrepreneurship is key to boosting economic independence and sustainable livelihoods for women, particularly through the effective management of loans.
The meeting, attended by hundreds of women entrepreneurs from Kampala and surrounding areas, provided an interactive platform for participants to share their experiences, challenges, and successes. Amongi encouraged women to explore all facets of the GROW project, not just its loan component, highlighting the additional services available, including grants, training, and other business development resources.
Amongi also announced that the government has set aside Shs 98.8 billion for disbursement in the current financial year, urging women entrepreneurs to prepare proper collateral to access these funds. The Minister addressed concerns from women who felt excluded from the project, acknowledging that one of the major barriers to accessing GROW loans has been stringent collateral requirements, which many women have struggled to meet.
Dr. Ruth Aisha Kasolo, the GROW Loan Project coordinator, revealed that over 20,000 beneficiaries have already accessed loans, many of which have been invested in agriculture, trade, and service businesses. She expressed optimism about the project’s success and its impact on beneficiaries’ lives, pointing to the skills and knowledge women are gaining to manage their finances and scale their businesses.
Kasolo credited the project’s success to strong collaborations with various financial institutions, such as Centenary Bank, Finance Trust Bank, Post Bank, Equity Bank, and DFCU Bank, as well as government agencies. Centenary Bank’s General Manager for Corporate Communications and Marketing, Ms. Beatrice Lugalambi, shared that 728 women had benefited from the project through the bank and expressed pride in the positive change the initiative is bringing to Uganda’s entrepreneurial landscape.
Stephen Asiimwe, CEO of PSFU, expressed excitement about the project’s growth, revealing that by January 31, 2025, 273 beneficiaries had accessed GROW loans through their support. He pledged continued assistance from PSFU to ensure the ongoing success of the project.
Hon. Esther Davinia Anyakun, Minister of State for Labour, Employment, and Industrial Relations, also urged beneficiaries to utilize the funds wisely, emphasizing the need to invest in income-generating activities that will ensure loan repayment and improve long-term livelihoods.
The GROW project is expected to continue its positive impact, empowering women entrepreneurs across Uganda with the tools they need to build profitable, sustainable businesses, fostering economic independence and growth for the nation.
