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Uganda Women Entrepreneurs To Benefit From $3 Million Finance

Uganda women entrepreneurs are set to benefit from $3million (11billion) finance courtesy of Development Finance Institutions partners consortium to bolster women entrepreneurs in East Africa.

Leading financiers announced the development at the launch if Invest 2 Impact challenge initiative for women business competition in Kampala.

Annie MarieLévesque Gender Specialist from Finn Dev Canada said business competition aims to support the growth of high potential women owned businesses.

The new initiative will support women entrepreneurs who have the potential to make positive impact on their local economies and are strong candidates for investments from development financiers.

The institutions include Fin Dev Canada, CDC group of United Kingdom, proparco of France and overseas private investment corporation of united states alongside master card foundation.

“Africa is home to more female entrepreneurs than the region in the world.it it’s with this background that these financial institutions are providing platform for female entrepreneurs to show case their successful enterprises and access critical expansion capital,’

Private Sector Foundation head of social development Fund Ruth Musoke advised women to take on the challenge by embracing management practices and professionalize their businesses.

Invest 2 Impact is an access to funding and women led business development initiative sponsored by the development finance institutions of Canada, UK, USA and France. The current project focuses in east Africa Rwanda,Uganda,Tanzania,Kenya and Ethiopia.

Uganda Development Bank managing director  Patricia Ojangole says access to finance still a big challenge to the women entrepreneurs.

Charity Namala Uganda coordinator said in total of 100 women participants will benefit from business finance this edition.

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