A Groundbreaking Initiative in Eastern Uganda
In a groundbreaking effort to empower women entrepreneurs in Eastern Uganda, Equity Bank has been diligently engaging with hundreds of small-scale and micro-business owners in the Busoga sub-region. The initiative is known as “Abakyala ku Ntiiko,” a program aimed at equipping women with essential financial management knowledge, accounting, and record-keeping skills, ultimately improving their access to financing and nurturing business growth.
A Successful Engagement in Iganga
The town of Iganga recently hosted the second edition of this transformative initiative. Women from various sectors gathered with a shared eagerness to learn how to manage their finances better, secure much-needed financial support and drive the expansion of their businesses. Since its introduction in March 2024, the Abakyala ku Ntiiko initiative has significantly altered the financial landscape for women in micro and small-scale enterprises throughout the country.
Empowerment through Education and Mentorship
Ruth Nakaima, Deputy Speaker of Iganga Municipality, praised Equity Bank for its empowering work. She highlighted how training in financial management and accounting has not only boosted financial literacy but also significantly increased the confidence of many women, encouraging them to step outside their comfort zones and pursue success.
Financial Solutions Tailored for Women
Ronald Nakhasanga, Equity Bank’s Regional Manager, emphasized the bank’s commitment to supporting women entrepreneurs. Tailored offerings like the Equi Mama business loans, school fees loans, youth loans, and SACCO loans have played a crucial role in this support system. “When we bring women together, we want to show them that they are the roots of this nation,” Nakhasanga stated with pride.
Diverse Financial Products for Growth
Barbara Namata, Relationship Supervisor at Equity Bank, outlined a variety of products designed to empower businesses and individuals. Whether through microloans, asset financing, or eco-friendly initiatives, the bank is helping women take charge of their economic futures by providing the necessary financial tools to expand their enterprises.
Celebrating Successes and Networking Opportunities
The engagement offered a platform for women to share success stories, showcase how financial literacy, and banking solutions have aided in business scaling, and explore collaborative opportunities among fellow entrepreneurs. Some have transitioned from informal operations to formal business entities, leveraging loans to bolster inventories and embracing digital banking for seamless transactions.
The Road Ahead
The Abakyala ku Ntiiko initiative will continue its journey across different regions, moving to Lira in the North on March 25th and Kiboga in the central on March 28th. This ambitious drive continues to bring the profound message of empowerment, community support, and sustainable growth to women entrepreneurs throughout Uganda.
According to ChimpReports, the initiative has facilitated these pivotal changes and promises a bright future ahead for women in business.
