The event held in Kampala under the theme “Accelerating Action For Prosperity in Business” brought together hundreds of women entrepreneurs, financial experts and industry leaders to foster financial literacy, networking, business financing, peer mentorship and small business management.
Recognising women’s crucial role in driving economic growth, Abakyala Ku Ntiiko is designed to equip women with the necessary knowledge and resources to scale and thrive in their businesses. Through this initiative, Equity Bank continues its commitment to supporting female entrepreneurship in overcoming financial barriers and achieving sustainable growth.
Speaking at the event on Wednesday, Equity Bank Managing Director Mr Gift Shoko encouraged the women entrepreneurs to value networking.
“We believe that when women are financially empowered, they uplift families and communities as a whole,” said Equity Bank Managing Director Gift Shoko. “The second edition of Abakyala Ku Ntiiko reaffirms our dedication to providing practical solutions that drive real change for women in micro-business.”
Laura Bahemuka, Equity Bank Head of Micro Segment, highlighted the challenges women face in managing finances due to multiple responsibilities and systemic barriers such as gender discrimination.
She said Equity Bank has developed tailored products like the Equi-Mama suite to address these challenges, offering personalised financial planning, investment advice and insurance coverage, which is a preserve for a few. Additionally, the Bank provides free financial literacy training and access to unsecured financing, mentorship and networking opportunities for women.
The Equi-Mama product also includes medical insurance specifically designed for women, covering maternal health, long-term illness, permanent disability and life insurance.
“One of our important target markets is women. We all know the importance of financial independence for women, it not only gives them the confidence to make their own decisions, but it also allows them to support their families and communities.
However, women face unique challenges when it comes to managing their finances: they often have to juggle multiple responsibilities, including their families, businesses, careers and personal lives. In addition, they may encounter systemic barriers such as gender discrimination in their various workstations or businesses, which can make it difficult to achieve financial stability,” said Bahemuka.
One of the event’s highlights was a testimonial panel featuring women who benefited from last year’s program. Ms Jane Nalubowa, who runs about four different businesses shared: “I learned how to manage my finances better and access affordable credit. Today, my business has grown, and I am now employing more women in my community.”
According to statistics from UBOS, nearly 40 percent of small and medium-sized enterprises are owned by women in Uganda. These businesses employ millions of people and support hundreds of households.
Equity Bank recognizes the important role women have to play in a community’s development and growth. To help women in small enterprises overcome the challenges face daily, it set up credit facilities in 2021 that now support over 400,000 women and youth with free financial management training, networking opportunities, peer mentorship, insurance cover, and unsecured financing.
Under the Equi-Mama credit facility, women are encouraged to save as well as provided with financial support to grow their enterprises. Bahemuka explains that the bank uses the world-renowned notion that “women are the best savers and payers” to enroll and empower them financially as a way of transforming society.
Bahemuka says free financial literacy training has become mandatory for the youth and women. “We realized that it is not good to keep pumping our clients with money without taking them through basics such as saving, budgeting, loan management. Therefore, we participate in grooming each of them in the management of whatever business one invests in.”
Following the launch in Kampala, Abakyala Ku Ntikko events will focus on regional events in Masaka (18th March), Iganga (21st March), Lira (25th March) and Kiboga (28th March).
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