dfcu Bank partners with UWEAL to celebrate and empower Uganda’s women entrepreneurs

dfcu Bank partnered with the Uganda Women Entrepreneurs Association Limited (UWEAL) to empower and recognize the achievements of women entrepreneurs at the Annual Women Business Leadership Conference 2024 and Award Dinner Gala held on November 28th and 29th, 2024, at Motiv, Lugogo.

The conference was a climax for UWEAL’s Women Entrepreneurs Month where a number of awareness activities like; Enterprise skill training and Policy advocacy forums were organised to spotlight the vital role women play in Uganda’s economic growth.

As a champion of women in business, dfcu Bank’s collaboration with UWEAL underscored its long-standing legacy of empowering female entrepreneurs in Uganda. The Bank has supported Ugandan women entrepreneurs for the past 60 years through initiatives like the Women in Business (WiB) program, the Government of Uganda’s GROW Loan, and the Rising Woman competition.

Since launching its prolific Women in Business program in 2007, dfcu Bank has impacted the lives of over 85,000 women entrepreneurs across Uganda. The program has not only provided access to financial resources, but it has also equipped over women entrepreneurs across Uganda with business knowledge and skills through training in areas such as risk management and business formalization, ensuring long-term success for their ventures.

Through the dfcu Rising Woman competition, dfcu Bank has reached over 60,000 women since the competition’s inception in 2018. The program has facilitated regional training sessions, proposal writing competitions, and mentorship opportunities, while awarding over UGX 120,000,000 in seed capital to exceptional women entrepreneurs.

dfcu Bank’s Chief Retail Banking Officer, Annette Kiconco, highlighted the transformative potential of empowering women, “When women succeed, families and communities thrive. Women entrepreneurs not only grow businesses but also create employment opportunities and invest in their communities. At dfcu, we are committed to fostering this multiplier effect by supporting women entrepreneurs with the tools they need to achieve their goals.”

More recently, dfcu through the GROW initiative has also further compounded this impact by addressing the unique challenges faced by women in business. Over the past three months, dfcu Bank has disbursed approximately UGX 5 billion in GROW loans to women entrepreneurs across the country empowering them to expand their enterprises.

“With over 40% of Uganda’s SMEs owned by women, there is no doubt that Uganda’s businesswomen are resourceful and creative in solving market problems. But beyond just doing business, we want to make sure that our businesswomen are also thriving. This is the objective of this forum this year and the reason we’ve collaborated with partners like dfcu Bank that can provide practical solutions for problems faced by women-led businesses,” UWEAL Chairperson of Board of Directors, Elizabeth Rumanyika Kasenene noted at the conference.

Through its partnership with UWEAL for the WBLC and Award Dinner Gala, dfcu Bank reaffirmed its dedication to creating financial solutions tailored to the needs of women entrepreneurs. The Bank’s innovative approach integrates financial assistance with mentorship and training, creating a sustainable environment where women can thrive and contribute to Uganda’s economic transformation.