The Minister for Gender, Labour and Social Development Hon. Amongi Betty has encouraged all women entrepreneurs who have accessed Generating Growth Opportunities and Productivity for Women Enterprises(GROW)Loan to diligently repay . “This not only ensures the sustainability of the fund, allowing more women to benefit, but also helps you build a strong credit history, opening doors to future financial opportunities.” Among said in her remarks during a meeting with GROW Loan facility beneficiaries held in Kampala.
Minister used the same platform to extend her appreciation to the World Bank group for funding this project. “This project is the first of its kind to provide wholistic products and services. On behalf of Government of Uganda, we do not take this for granted. We shall do our best to realise the envisaged impact.” She said.
“To the women entrepreneurs present, congratulations on your remarkable achievements of accessing the GROW Loan. Very many women entrepreneurs are aspiring to get GROW Loan! By taking this bold step, you are not only advancing your own businesses but also contributing significantly to the economic growth and development of Uganda. I would like to express my sincere appreciation to the Participating Financial Institutions particularly, Finance Trust Bank and Centenary Bank with us today. Thank you for your commitment in delivering GROW Loan. I know you could be undergoing immense pressure to deliver due to the high demand for this product to the women.” she stated.
Minister added that “On the other hand, I urge all the Participating Financial Institutions to take keen interest in the issues raised by women entrepreneurs at this meeting. You need to come up with tangible solutions to address these challenges to make the application process faster and transparent. Above all, much as GROW loan repayment is in your full mandate under this project, I call upon you ensure to ensure that you do not repeat mistakes committed by money lenders such auctioning collateral security without due process. As we move forward, I encourage all women entrepreneurs who have accessed the GROW Loan to diligently repay their loans. This not only ensures the sustainability of the fund, allowing more women to benefit, but also helps you build a strong credit history, opening doors to future financial opportunities.”
“I also urge you to take full advantage of the various products and services available through the GROW Project. Engage in the tailored skilling opportunities, access affordable financing, and utilize the productive infrastructure provided. These resources are designed to support your business growth and success. I want to reiterate my congratulations to all the women entrepreneurs here today. Your resilience and entrepreneurial spirit are paving the way for a brighter future for women in Uganda. I look forward to witnessing the continued growth and success of your enterprises, and the positive impact you will make in your communities and beyond.” She remarked.
“The GROW Project is a Government of Uganda initiative implemented by the Ministry of Gender, Labour and Social Development in partnership with the Private Sector Foundation Uganda (PSFU). I wish to express my gratitude to the Minister of Gender, Labour and Social Development for her exceptional leadership in guiding several components of the project.” said Mr. Stephen Asiimwe, CEO Private sector foundation Uganda.
He said that “the primary purpose of this meeting is to engage with the women entrepreneurs who have benefited from the GROW loans. We aim to conduct a needs assessment of their businesses, inform them about the various products and services available through the GROW Project, and highlight how they can continue to leverage these resources for further growth. This event also offers a unique opportunity for networking and knowledge-sharing, allowing these entrepreneurs to connect, exchange experiences, and inspire others to explore similar funding opportunities.”
The core objective of the project is to facilitate the transition of women-owned businesses from micro to small enterprises, and from small to medium enterprises, thereby empowering women entrepreneurs, especially in high-growth sectors. These sectors have the potential to create more jobs and contribute to poverty alleviation in our communities.
So far, the Government of Uganda has disbursed a total of UGX 50,096,900,000 to the PFIs, with Centenary Bank and Finance Trust Bank receiving the largest share of UGX 12 billion each. Other disbursements include Post Bank (UGX 11.8 billion), DFCU Bank (UGX 7.9 billion), Equity Bank (UGX 1.8 billion), and Stanbic Bank (UGX 4.5 billion) as at January 30th, 2025
“As at the end of January 2025, a total of 2,073 beneficiaries nationwide had accessed the GROW Loans and this is no mean achievement I want to thank all the Participating Financial Institutions for their support in ensuring the successful implementation of the GFF across the country.” He stated
