Housing Finance Bank has announced a strategic partnership with the Uganda Women Entrepreneurs Association Limited (UWEAL) to accelerate the growth of women-led small and medium enterprises (SMEs) in Uganda.The partnership is geared toward addressing key challenges faced by female entrepreneurs, such as limited access to finance and financial literacy, which often hinder business sustainability.
Under this collaboration, Housing Finance Bank will offer tailored financial products specifically designed for women-led SMEs, empowering them with the tools needed to overcome financial barriers and thrive in the competitive business landscape.
Speaking on the partnership, Peace K Ayebazibwe, Executive Director of Housing Finance Bank, emphasized the pivotal role women play in Uganda’s economic development.
“Women are the backbone of our families, communities, and businesses. If we empower women, we will witness significant advancements in our nation’s economy. Yet, many women-led enterprises struggle with access to finance, which stifles their growth potential. Through this partnership, we aim to bridge that gap and foster financial inclusion for women entrepreneurs,” he remarked.
Ayebazibwe also pointed out that women, who often shoulder the responsibility of supporting their families, are still underrepresented in the formal financial sector. “Without empowering women, true economic progress cannot be achieved,” he added.
Angela Ndawula, Head of Business and Institutional Banking at Housing Finance Bank, urged women entrepreneurs to maintain proper business records, both for financial transparency and for effective business management.
“Keeping accurate records, whether manually or digitally, is essential to assess the financial health of a business. As the banking sector shifts toward digitalization, we are committed to ensuring that women-led enterprises can adapt and thrive in this evolving financial environment,” she said.
UWEAL CEO, Connie Kekihembo, applauded Housing Finance Bank for its commitment to supporting women entrepreneurs, noting that the bank has introduced favorable interest rates as low as 16% specifically for women-led businesses.
“This partnership presents a crucial opportunity to promote financial solutions that are accessible to our mothers and sisters, who may otherwise miss out on formal financial services,” Kekihembo said.
She further outlined the objectives of the partnership, which include accelerating financial inclusion for women, fostering the sustainable growth of women-led businesses, and promoting innovative housing solutions tailored to women’s needs. As part of this initiative, UWEAL plans to establish a Women’s Special Center to provide continued support to female entrepreneurs across the country.
This partnership, she said, is set to empower more women to access the financial resources and knowledge they need to scale their businesses.
Leave a Reply