More than 30,000 low-income women entrepreneurs across Busoga sub-region, are set to gain access to affordable financing, business development support and digital financial services under a landmark partnership between the Busoga Kingdom and the Gates Foundation. Launched at the headquarters of the Busoga Kingdom in Bugembe, the Women’s Economic Empowerment (WEE) Programme aims to tackle one of the greatest challenges faced by women-owned nano and micro enterprises: limited access to affordable credit and business support. The initiative combines financing with entrepreneurship training, financial literacy, digital skills, mentorship, insurance, savings solutions and market linkages to help women build sustainable businesses and improve household incomes. The partnership brings together the community mobilisation influence of the Busoga kingdom, and the global expertise of the Gates Foundation in advancing financial inclusion. Representing William Wilberforce Gabula Nadiope IV, the Kyabazinga of Busoga, the Katukiro (Prime Minister) of Busoga kingdom, Dr Joseph Muvawala, said empowering women entrepreneurs is essential to achieving Uganda’s social and economic transformation. “When you empower a woman economically, you uplift an entire family and strengthen the community. Many women work tirelessly to support their households yet continue to face barriers in accessing finance and business opportunities.” “This partnership gives them the tools, knowledge and confidence to build sustainable enterprises and improve their livelihoods. We commend the Gates Foundation for joining hands with the Busoga Kingdom to transform lives through economic empowerment,” the Kyabazinga said in a message delivered by Dr Muvawala. Dr Muvawala added that the programme complements government efforts to improve livelihoods by combining affordable financing with practical business development support. “Access to capital alone is not enough. Entrepreneurs also need skills, mentorship and market opportunities to build resilient businesses. This partnership addresses those needs in an integrated way, creating lasting economic opportunities for women and their families.” Women own and operate thousands of Uganda’s micro and small enterprises, particularly within the informal economy, yet many remain excluded from formal financial systems because of limited collateral, low financial literacy and insufficient access to products designed around their needs. The new programme seeks to close that gap by providing an integrated pathway from financial inclusion to enterprise growth. Stephen Segujja, head of the Economic Enterprise Restart Fund (EERF), said the initiative reflects the purpose of driving Uganda’s growth by expanding economic opportunities for underserved communities. “We believe economic inclusion is one of the most powerful drivers of sustainable development. Through this partnership, women entrepreneurs will gain access not only to affordable financing, but also to the business skills, digital capabilities and market connections they need to grow resilient enterprises. We are investing in businesses that will create jobs, strengthen communities and contribute to Uganda’s long-term prosperity,” he said. Segujja added that the programme builds on their extensive experience supporting enterprise development. Through the Economic Enterprise Restart Fund, the Bank initially mobilised $40 million in partnerships and extended more than Shs 370 billion in financing to over 8,000 Saccos. In addition, the For Her programme has supported more than 10,000 women entrepreneurs with over Shs 200 billion in financing, complemented by financial literacy, governance support, bookkeeping and market access initiatives. He added that the Women’s Economic Empowerment Programme contributes to broader Positive Impact Agenda, under which the Bank has committed to mobilise up to Shs 1 trillion through strategic partnerships supporting women, youth and farmers. Catherine Poran, the chief executive of the Incubator plan, said enterprise development will be central to the programme’s long-term success. “Access to finance creates opportunity, but enterprise development sustains it. Our role is to equip women entrepreneurs with practical business skills, financial management capabilities, digital literacy and mentorship so they can build businesses that create jobs, increase household incomes and contribute meaningfully to Uganda’s economy.”The post Busoga women entrepreneurs to benefit from new initiative appeared first on The Observer Media Ltd.