Equity Bank has reaffirmed its commitment to women’s economic empowerment with the launch of the second edition of its “Abakyala Ku Ntiiko” initiative, a program designed to support female entrepreneurs in Uganda. The event in Kampala attracted hundreds of businesswomen, financial experts, and industry leaders, all focused on fostering financial literacy and business growth. This initiative reflects Equity Bank’s broader mission of equipping women with the resources and knowledge needed to scale their businesses. With women playing a significant role in the Ugandan economy, such efforts are critical in addressing financial disparities and fostering economic sustainability.
Equity Bank Managing Director Gift Shoko underscored the transformative power of financial inclusion for women. He emphasized that when women gain financial independence, their families and communities benefit significantly. The bank’s approach goes beyond financing, integrating training, mentorship, and strategic networking to ensure women entrepreneurs succeed. Equity Bank has tailored financial products, such as the Equi-Mama suite, to provide targeted support, including business advisory services and insurance coverage.
Laura Bahemuka, the Head of Micro Segment at Equity Bank, highlighted the challenges that women face in accessing and managing finances. She pointed out that systemic barriers such as gender discrimination and the burden of balancing business with family responsibilities often hinder financial growth. Equity Bank’s programs aim to bridge this gap by offering structured training on savings, budgeting, and loan management, ensuring that women are well-equipped to handle business finances effectively.
The initiative has already begun transforming the lives of many women entrepreneurs. Jane Nalubowa, a participant from last year’s edition, shared how financial literacy training helped her expand her businesses and create employment opportunities for other women. Her success story is just one of many that illustrate the impact of Equity Bank’s interventions in empowering women-led enterprises.
According to the Uganda Bureau of Statistics, nearly 40 percent of small and medium-sized enterprises in Uganda are owned by women. These businesses form a critical part of the economy, supporting families and creating jobs. Recognizing this, Equity Bank established credit facilities in 2021 that have since supported over 400,000 women and youth with financing, insurance, and mentorship. The bank believes that financial independence is a cornerstone of long-term economic development.
In addition to providing financial products, Equity Bank places a strong emphasis on financial education. Bahemuka noted that the bank does not simply provide loans but ensures that clients receive essential training in business management. “It is not enough to offer financial support; we must also empower women with the knowledge to sustain and grow their businesses,” she said. This hands-on approach ensures that financial literacy becomes a foundation for business success.
Following the Kampala event, Equity Bank will take the “Abakyala Ku Ntiiko” initiative to other regions across Uganda. The next events are scheduled for Masaka on March 18, Iganga on March 21, Lira on March 25, and Kiboga on March 28. These regional engagements will allow more women to access financial training and support, further expanding the initiative’s impact. As more women gain the skills and resources to thrive in business, the broader economic benefits will be felt across communities and industries in Uganda.
