Women-started businesses in Uganda will embark on accessing unsecured loans so as to boost their businesses that were affected by the pandemic of Covid-19.
This is being done because there is a lot of competition from the male led businesses a thing that puts the females’ at the verge of collapsing. The fact that women are part of the vulnerable groups of people in society today puts them at the forefront of profiting from the financial institutions (SACCOs).
“For women to gain from this, they need to be in groups, Sacco’s and other starting ups who share a common problem.”
While addressing the public on one of the Ugandan big media houses today, Connie Kekyihembo – the Chief Executive Director of Uganda Women Entrepreneurs Association Limited (UWEAL) said that the only thing these women need to find out is a reputable person in the society who will come out and explain about them that they are members of that community.
The beneficiaries will need no collateral security and the only thing is that they will be availed the funds at once if they can describe their businesses well.
The only challenge is that they have not been registering…the first thing when we get in touch with them, go and register…the money they are allowing is (50-900) million. A group of 50 women, it means its possible each can get one million and start a business of tomatoes, Kekyihembo lamented.
This is a driving line by government to support women which they should embrace at once. Even the practical enterprises of women like sewing, welding and others will be funded and brought to normal.
Barbara Ofwono Buyondo – Board Chairperson of UWEAL also threw light this move. She said that they want to see that women can produce quality and standadized goods before their outside market is opened for it does better when they start dealing with outside countries when they have the best goods worth selling.
