dfcu Bank launches GROW initiative in Eastern Uganda
The event, held in Jinja, marks a bold step towards providing financial support, business training, and mentorship to help women scale their enterprises.
dfcu Bank has launched the GROW initiative, a transformative program aimed at empowering women entrepreneurs in Eastern Uganda.
The event, held in Jinja, marks a bold step towards providing financial support, business training, and mentorship to help women scale their enterprises.
The GROW Loan, specifically tailored for women, offers affordable credit and capacity-building opportunities for female-led businesses. This initiative comes as part of dfcu Bank’s broader Women in Business (WiB) program, which is committed to uplifting women in key sectors like agriculture, trade, and manufacturing across the region.
During the launch, Hope Nakhayenze, Chief Risk Officer at dfcu Bank, emphasized the bank’s commitment to understanding and supporting women in business.
“We’re not just providing financial support—we’re engaging with these women to understand their businesses and challenges. The GROW Loan is designed to provide not only affordable credit but also mentorship and training to ensure long-term success,” she said.
The GROW Loan is offered at an attractive interest rate of 10% per annum, with repayment periods of up to two years. Women can access loans ranging from 4 million to 200 million UGX, with a special bonus incentive for those who make consistent payments throughout their loan term.
Eastern Uganda, particularly towns like Jinja, Mbale, and Iganga, is home to a thriving community of women-led small and medium-sized enterprises (SMEs). These women play a critical role in driving local economies, with their businesses spanning agriculture, trade, and manufacturing.
Jinja Mayor, Alton Peter Kasolo, hailed the launch of the GROW initiative as a “milestone in empowering our women entrepreneurs,” stating that the partnership between dfcu Bank, the Government of Uganda, and the World Bank will significantly contribute to the region’s growth and prosperity.
In just the past month, dfcu Bank has already disbursed 5.2 billion UGX to 113 women entrepreneurs and provided training to over 800 women in key areas such as risk management and business skills.
As dfcu Bank continues to expand its GROW initiative, women entrepreneurs across Eastern Uganda can look forward to greater access to the resources they need to thrive, transforming not only their own lives but their communities as well.
