BecomingGolden

On Thursday, 28th November 2024, the Uganda Women’s Entrepreneurs Association Limited (UWEAL) held the 11th Annual Women in Business Leaders’ Conference, bringing together inspiring voices to explore the theme “Invest in Women: Accelerate Progress.” The event began with remarks from Sarah Kitakule, Chairperson of the UWEAL Board, who highlighted the pivotal role women play in Uganda’s economy. She noted that 40% of SMEs are owned by women, positioning Uganda third globally in this regard. However, she posed a critical question: Are women truly thriving?

With 80% of women operating in the informal sector, Sarah stressed the untapped potential of women in Uganda. She noted that empowering women economically could have a ripple effect, benefiting society at large. Women are more likely to invest in their homes and families, prioritize household welfare, and improve nutrition and feeding practices within their
communities.

Sarah Kitakule concluded her remarks by urging participants to move beyond discussions and ensure the conference delivers meaningful actions that empower women and accelerate progress.

Annette Kiconco, Chief Retail Banking Officer of DFCU Bank, emphasized the institution’s unwavering commitment to supporting women entrepreneurs through customized credit solutions and growth-oriented initiatives. She pointed out DFCU’s efforts to help women formalize their businesses, unlocking access to broader opportunities and sustainable success.

A notable example is the bank’s Kyadondo Center, a dedicated hub for women entrepreneurs. Beyond financial services, the center offers essential knowledge and skills to help women thrive in their ventures. Annette reaffirmed DFCU’s dedication to creating an enabling environment for women-led businesses to flourish. Please visit: https://www.dfcugroup.com/dfcu-
services/dfcu-women-in-business/ for more information about the initiatives.

The first panel discussion featured Alex Asiimwe, Commissioner from the Ministry of Gender, Labour, and Social Development, and Hellen Alobo, Gender Specialist from CARE International Uganda, addressing challenges and opportunities for women’s economic empowerment.

Alex emphasized the legal protections provided under the Constitution, citing Articles 33 and 40, and urged women to use these as a foundation for advocacy. He also highlighted the government’s GROW Program, which offers financial support through secured loans and capacity building via financial literacy and digital skills training. While concerns were raised
about limited availability of GROW funds, Alex reassured attendees that additional funding was underway and encouraged women to stay in touch with their banks. For more on the GROW
Program, visit: https://www.uweal.co.ug.

Hellen shed light on cultural barriers, such as limited access to land, male-dominated financial decision-making, and restricted use of mobile phones for business. She explained how CARE International works with families and communities to redistribute unpaid domestic work and raise awareness among men and boys about shared responsibilities. By collaborating with
cultural leaders, CARE challenges norms that hinder women’s progress and creates a more supportive environment. Learn more about CARE’s initiatives here: https://www.care.org.

The panel concluded with a collective call for stronger collaboration among government, communities, and organizations to foster an inclusive environment where women entrepreneurs can thrive.

The second panel discussion featured speakers from Housing Finance Bank, Agile Media Africa, and the petroleum sector, offering practical strategies for women entrepreneurs to grow their businesses while driving sustainable development.

Transitioning from firewood and charcoal to gas was identified as a crucial step for sustainability. Gas, being cost-effective and environmentally friendly, reduces household expenses and conserves resources. This shift also presents a promising business opportunity for women to venture into gas distribution and tap into this expanding market. Women interested in
exploring this opportunity can find guidance and support through relevant programs.

Housing Finance Bank’s Harold Grace Muzira introduced the Zimba Mpola Mpola Program, which now extends beyond mortgages to provide flexible financing tailored to individual income flows. Women with land who want to build can access incremental loans, helping them overcome challenges like limited land ownership, financial constraints, and literacy gaps. For
more details, visit: https://www.housingfinance.co.ug.

From Agile Media Africa, Aggie Patricia Turwomwe highlighted the importance of brand identity and authentic storytelling for business growth. She encouraged women to leverage social media platforms like TikTok and Instagram to share their stories, noting that consistency and quality content could help them attract meaningful engagement, regardless of follower count.

In conclusion, the 11th Annual Women in Business Leaders’ Conference 2024 highlighted the significant role women play in driving Uganda’s economy while addressing key challenges such as cultural norms, limited resources, and language barriers. Practical solutions like the GROW
Program, Housing Finance’s Zimba Mpola Mpola initiative, and digital tools for branding were emphasized as pathways to progress.

The conference reinforced the need for collaboration among government, private sector, and development partners to create an environment where women entrepreneurs can thrive. Investing in women is a direct investment in progress, paving the way for a more inclusive and prosperous
society.