BecomingGolden

Written by Adv. Brownie Ebal

I attended the Women in Investment Breakfast 2024 in the capacity of Partner at Nuwajuna Associated Advocates (NAA), where I serve as Secretary of Powerhouse Investment Club and as Legal Affairs for Water Family Investment Club. Both clubs are startups with a combined portfolio of over 200 million shillings. The breakfast, held on October 23rd at Kampala’s Protea Hotel, was a highlight of the World Investor Week (WIW) 2024, which focused on the theme “Tech-Enabled Financial Inclusion: Bringing Sustainable Finance and Investment Opportunities to Everyone.”

The event underscored the critical role of technology in expanding financial inclusion, particularly for women, and was organized by the Capital Markets Authority (CMA) and Uganda Securities Exchange (USE) as part of broader efforts to promote financial literacy. Ms. Jacintah Akino, Manager of Legal and Compliance at USE, opened the event with welcome remarks, emphasizing the importance of empowering women through financial education and inclusion.

Ms. Renita Nabisubi, Non-Executive Director at USE, delivered an insightful presentation on technological advancements at the Uganda Securities Exchange, explaining how technology can offer women more opportunities to invest their savings in instruments that generate returns. She expressed hope that the week would provide women with practical insights into raising capital for their businesses, encouraging participants to ask critical questions. She concluded by stating, “Together, we can build stable financial systems where everyone thrives.”

The keynote speech by Ms. Josephine Okui Ossiya, CEO of CMA, centered around the event’s theme, which she described as speaking to the heart of finance. She emphasized the importance of leveraging technology to ensure financial inclusion and pointed out that financial inclusion is more than just a goal; it is a catalyst for social and economic transformation. For women in particular, this intersection of potential and opportunity can lead to profound impacts. She quoted, “Educate a woman to educate the nation,” underscoring the far-reaching effects of women’s empowerment in finance. She concluded with a call to action, urging women to reflect on how they can deliberately create the impact they wish to see as they invest in different spaces.

The first panel discussion focused on empowering women investors, exploring strategies for investment opportunities, raising capital, and overcoming challenges. Some of the challenges highlighted included low income, which affects women’s ability to invest, the burden of black tax, limited learning opportunities for women to qualify for leadership roles, procrastination, and the tendency to be risk averse.

The panelists shared practical strategies for raising capital, emphasizing the importance of formalizing businesses, structuring them in a way that allows operations to continue even in the absence of the founder, and positioning businesses effectively by being able to confidently speak about them. Above all, the panel stressed the need for women to be intentional in their business and investment endeavors.

In terms of technology, the discussion underscored how advancements have made it easier for women to engage in financial transactions even without cash on hand, with mobile money serving as a prime example of how technology is transforming access to finance and enabling more women to participate in the economy.

Another key session explored investment success stories, featuring women at various stages of life who have successfully navigated the capital markets. Moderated by Lyn Tukei, the panel included representatives from institutions such as Britam, SBG, UAP, and Sanlam. These women shared personal stories and experiences, offering practical insights on how technology has played a pivotal role in shaping their investment journeys. They highlighted how technology has transformed the way they approach investing, making it more accessible and efficient.

The panelists also emphasized the importance of cultivating a habit of saving as a foundation for investment. They encouraged women to start small, be consistent, and embrace the power of compounding. They highlighted the value of seeking expert advice to gather all necessary information, using technology to conduct thorough research, and avoiding becoming an enemy of progress by sharing valuable information with others. Additionally, they stressed the importance of focusing on long-term investments for sustainable growth.

The event concluded with remarks from Ms. Irene Birungi, CEO of the Presidential CEO Forum, who reflected on the discussions of the day and called for continued efforts to promote tech- enabled financial inclusion for all, particularly women. The breakfast provided an invaluable platform for networking, knowledge sharing, and fostering connections among women investors, professionals, and regulators, further strengthening the collective push towards inclusive financial markets.

In conclusion, the discussions highlighted the critical role of women in the investment landscape, emphasizing the importance of combining legal expertise with business acumen. As professionals in the legal field, we have a unique opportunity to empower ourselves and others to navigate investment opportunities effectively. By fostering financial literacy and collaboration, we can drive meaningful change and create sustainable ventures that positively impact us and our communities.