Annette Kiconco, Chief Retail Banking Officer, dfcu BankEvery economy has untapped growth potential. In Uganda, much of it sits within women-owned businesses that are creating jobs, building enterprises and driving local commerce, often with limited access to the financing needed to scale. The GROW Project, a Government of Uganda initiative supported by the World Bank, was established to help close that gap by providing affordable financing and business development support to women entrepreneurs. Through participating financial institutions such as dfcu Bank, women can access the capital and capabilities needed to grow sustainable businesses. Annette Kiconco, Chief Retail Banking Officer at dfcu Bank, discusses the barriers women continue to face, the opportunities emerging through GROW, and what meaningful impact looks like for women-led enterprises and the wider economy. What makes investment in women entrepreneurs an economic priority for Uganda?Women-owned enterprises are deeply embedded in Uganda’s productive economy, particularly in agriculture, trade, manufacturing and services. They support household incomes, sustain local supply chains and create employment in both urban and rural markets.Uganda’s 10-fold growth ambition will require stronger private sector participation and a larger base of enterprises capable of scaling. Expanding the productivity and competitiveness of women-owned businesses therefore sits squarely within the country’s economic transformation agenda. It also advances the Government of Uganda’s commitment to women’s economic advancement by moving more entrepreneurs from participation to meaningful commercial scale.What is preventing more women-owned businesses from reaching scale?Many women entrepreneurs have established customers, active trading relationships and clear opportunities to expand, but remain undercapitalised relative to the size of those opportunities. The constraint is most visible when a business needs to purchase equipment, raise production volumes, build inventory, improve distribution or fulfil larger orders.Business formalisation also affects growth. Financial records, governance structures, registration status and operating systems increasingly determine whether an enterprise can access finance, win contracts and enter formal value chains. Without those foundations, viable businesses can remain commercially active but structurally limited.Why does the cost and structure of financing matter just as much as access to credit?The quality of financing has a direct bearing on business performance. A manufacturer investing in equipment, an agribusiness expanding processing capacity or a trader building stock ahead of peak demand needs capital structured around the cash flows and return cycle of that investment.Nearly two decades of supporting women entrepreneurs through the dfcu Women in Business programme has shown that affordable, well-structured financing enables businesses to invest in productive assets, improve margins, increase output and create jobs. Through GROW, dfcu is issuing financing that supports business expansion and productive investment, not only short-term liquidity.How does the GROW Project support Uganda’s broader economic agenda?GROW converts a national policy priority into practical business financing for women entrepreneurs. The initiative supports the Government of Uganda’s focus on inclusive growth by directing affordable capital and business development support to enterprises that already contribute to production, trade and employment.As an issuing bank under the programme, dfcu is helping translate that agenda into enterprise-level growth. When women-owned businesses invest in equipment, expand output, strengthen working capital and enter larger markets, the benefits feed into productivity, employment, supply chain development and the wider 10-fold growth agenda.Women entrepreneurs being trained by dfcu on business growth and sustainabilityHow is dfcu Bank leveraging its experience to deliver GROW effectively?The Bank’s role in GROW builds on the dfcu Women in Business programme, launched in 2007, and the experience gained from supporting more than 85,000 women through financing, mentorship, training and advisory services.That track record matters because women-owned businesses do not face uniform challenges. A grower, processor, distributor, trader and manufacturer require different forms of financing and business support. dfcu brings sector understanding, credit experience and a tested women’s enterprise platform to the delivery of GROW financing.What role does dfcu’s national footprint play in expanding access to GROW financing?The need for growth capital is not concentrated in Kampala. Women entrepreneurs across the country are building businesses in agriculture, trade, services and manufacturing, often in markets where proximity to financial services directly affects access.dfcu does not only give loans, but it also empowers women entrepreneurs through various capacity building programsThrough 55 branches across Uganda, dfcu is able to reach entrepreneurs closer to where they operate. That national footprint strengthens the Bank’s ability to originate, assess and support businesses across regions, while ensuring GROW financing is not limited to major urban centres.How does dfcu’s branch network improve the quality of support offered to women entrepreneurs?A national branch network gives the Bank more than distribution reach. It provides local market intelligence. Branch teams understand regional business cycles, sector realities and customer needs, which helps shape more relevant conversations around financing and business support.Women entrepreneurs at an event organised by dfcu bankFor women entrepreneurs, this means access to a bank that can engage with the operating realities of their businesses, from seasonal cash flows to supply chain pressures. It also allows dfcu to combine financing with practical advisory support, helping entrepreneurs strengthen financial discipline and position their businesses for sustainable growth.Beyond financing, how is dfcu supporting women entrepreneurs to build stronger businesses?Capital delivers stronger outcomes when businesses also have the systems and skills required to manage growth. Through Women in Business and related advisory interventions, dfcu supports entrepreneurs with financial literacy, mentorship, business training and market-oriented guidance.This support improves the ability of entrepreneurs to keep better records, manage cash flow, formalise operations and prepare for larger commercial opportunities. It is a critical part of ensuring that GROW financing translates into stronger, more competitive enterprises.What indicators will demonstrate that the programme is achieving meaningful impact?The clearest indicators will be seen in business performance: revenue growth, profitability, productive capacity, employment, asset acquisition and entry into larger markets. These measures show whether financing is converting into enterprise expansion.More than 1,600 women have already benefited from GROW financing through dfcu, confirming strong demand for affordable growth capital. Over time, the deeper measure of success will be the number of women-owned businesses that formalise, scale, create jobs and contribute more visibly to Uganda’s private sector growth.The post dfcu: Why Backing Women Entrepreneurs is Key to Uganda’s 10-Fold Growth appeared first on Business Focus.