Kampala, Uganda – August 28, 2024
In a major stride towards empowering women in business, Uganda’s Vice President, H.E Jessica Alupo, officially launched the GROW Loan initiative, aimed at supporting women entrepreneurs across the country. The launch event took place on August 28, 2024, at Hotel Africana in Kampala, attracting key government officials, business leaders, and representatives from women’s organizations.
The GROW Loan initiative is designed to provide affordable financial solutions to women-owned businesses, helping them access capital to expand their enterprises. The program targets women entrepreneurs in various sectors, including agriculture, trade, and manufacturing, with a special focus on small and medium-sized enterprises (SMEs).
During her address, Vice President Alupo emphasized the critical role that women play in driving Uganda’s economy and the need for greater financial inclusivity to unlock their potential. “Women entrepreneurs are the backbone of many communities, and by providing access to affordable loans, we are giving them the tools to thrive and grow their businesses,” she stated.
The Vice President also highlighted the government’s commitment to improving financial literacy and business training for women, ensuring that they not only have access to loans but also the skills to manage and grow their enterprises sustainably.
The launch of the GROW Loan program is part of a broader government initiative to empower women economically and reduce the barriers that limit their access to financial services. The program is expected to reach thousands of women entrepreneurs across the country, creating jobs, fostering innovation, and boosting Uganda’s economy.
Several beneficiaries of the GROW Loan were present at the event, sharing their stories and expressing their optimism about how the loan will positively impact their businesses. Nanteza Hadija a participant from Mityana who travelled to Kampala for this launch, shared her gratitude, saying, “This loan will help me expand my business and reach new markets. It’s a game-changer for women like me who have big dreams but are limited by capital.”
As Uganda continues to prioritize women’s empowerment and economic development, the GROW Loan marks a significant milestone in addressing the financial challenges women entrepreneurs face.
About GROW Loan
The GROW Loan is a government-backed initiative aimed at fostering entrepreneurship among women by providing affordable loans and business development support. The program focuses on boosting financial inclusion and promoting economic growth in Uganda.
