By URN<\/p>\n
The Generating Opportunities for Women Entrepreneurs (GROW) Project\u00a0successfully disbursed Shillings\u00a050.096,900,000 in loans from August 2024 to January 2025. This funding, facilitated through six commercial banks, provided over 2,073 women entrepreneurs with the necessary capital to scale and grow their businesses. Alongside, the initiative is now going beyond financial aid, shifting its focus towards long-term business sustainability.<\/b>\u00a0Recognizing that access to capital alone is insufficient to drive business growth, the GROW project administrators have expanded their approach to include business management training, mentorship, product certification support, and market access facilitation.\u00a0<\/b><\/p>\n
This holistic strategy aims to equip women entrepreneurs with the tools they need to transition from survival-mode businesses to competitive enterprisesthat can thrive at local, regional, and global levels.\u00a0 Speaking at a borrowers\u2019 meeting in Kampala, the Minister of Gender, Labour, and Social Development, Betty Amongi, emphasized that a government-led study identified key barriers hindering women entrepreneurs beyond financial limitations, and these include; Limited business management skills, restricted access to modern equipment, Difficulties in obtaining product certification, and \u00a0Challenges in securing market access.<\/p>\n
To address these challenges, the GROW initiative is evolving into an integrated empowerment platform, combining financial assistance with practical solutions to remove systemic hurdles that often stifle business growth. \u201c<\/b>The goal is to transition these businesses from subsistence to sustainable, competitive enterprises,\u201d<\/b>\u00a0Minister Amongi stated.<\/p>\n
The project\u2019s expansion now includes; Increased Funding Mechanisms,\u00a0<\/b>in addition to the current loan structure, new financial pathways are being introduced: Microfinance institutions and cooperatives to cater to women needing UGX 2-3 millionloans. Introduction of grants alongside loans to ease financial strain. Risk-sharing mechanismswith banks to improve lending terms for women.<\/p>\n
Currently, GROW\u2019s Financial facility is managed by Centenary Bank, Post Bank, Finance Trust Bank, Stanbic Bank, DFCU Bank, and Equity Bank are managing GROW\u2019s discounted loan facility, ensuring that financing reaches more women entrepreneurs. Centenary Bank alone has disbursed 728 loans worth UGX 14.5 billion, surpassing its initial target of 468 loans.<\/b>\u00a0Statistics show that Women in trade, agriculture, and manufacturing have benefited the most, with the highest demand recorded in Kampala metropolitan and Buganda region as a whole.<\/p>\n
The project\u2019s terminal report indicates that despite progress, challenges persist for rural women, refugees, and persons with disabilities.\u00a0<\/b>To bridge this gap, there is a push to lower the minimum loan amount from UGX 4 million to UGX 1 million, making funds more accessible for smaller entrepreneurs. More to this, the initiative now integrates mentorship programs to connect emerging business owners with experienced women entrepreneurs, business development trainingto enhance financial literacy and management skills, and Product certification support to help women meet industry standards and access new markets<\/p>\n
The Private Sector Foundation Uganda (PSFU)CEO, Stephen Asiimwe,<\/b>\u00a0noted that demand for GROW loans is outpacing supply, demonstrating the project\u2019s strong impact.\u00a0\u201c<\/b>This initiative is about more than just funding; it\u2019s about creating an ecosystem where women-led businesses can truly thrive,\u201d\u00a0<\/b>he stated.<\/p>\n
By combining capital with knowledge, mentorship, and institutional support,\u00a0<\/b>the GROW project is transforming itself from a financial aid program into a national movement for women’s economic independence.<\/b>\u00a0This model not only boosts Uganda\u2019s ranking as one of Africa\u2019s top countries for female entrepreneurship but also positions women-led enterprises as key players in the country\u2019s economic growth.<\/b><\/p>\n
With UGX 50.1 billion already disbursed,<\/b>\u00a0the next phase of GROW is not just about reaching more women but ensuring that their businesses survive, scale, and succeed in Uganda\u2019s evolving market landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"
By URN The Generating Opportunities for Women Entrepreneurs (GROW) Project\u00a0successfully disbursed Shillings\u00a050.096,900,000 in loans from August 2024 to January 2025. This funding, facilitated through six commercial banks, provided over 2,073 women entrepreneurs with the necessary capital to scale and grow their businesses. Alongside, the initiative is now going beyond financial aid, shifting its focus towards […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-8910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/comments?post=8910"}],"version-history":[{"count":1,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8910\/revisions"}],"predecessor-version":[{"id":8914,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/posts\/8910\/revisions\/8914"}],"wp:attachment":[{"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/media?parent=8910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/categories?post=8910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/spicemedia.ug\/spicefm\/wp-json\/wp\/v2\/tags?post=8910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}