Prime
PSFU, Gender ministry start implementation of Shs812b women project
Ms Damali Ssali
What you need to know:
- The programme, supported by the World Bank, seeks to provide women entrepreneurs with access to capital and training in business governance and financial management
The Private Sector Foundation Uganda (PSFU) and Minister for Gender have started implementation of a Shs812.9 billion ($217m) women entrepreneurs’ empowerment programme.
The programme, which is supported by the World Bank, seeks to provide women entrepreneurs with access to capital and training on business governance and financial management.
Ms Damali Ssali, the PSFU chief programmes and project officer, said the programme gives PSFU an opportunity to support vulnerable sections and groups of Ugandans, among whom include women, youth and small and medium-sized business.
“Women entrepreneurs will be able to access patient capital of Shs2m and above, with flexible interest and repayment terms,” she said during an online engagement with private sector stakeholders early this week. Ms Ssali also noted that as part of the larger private sector, PSFU was cognizant of the fact that many women-led businesses fail as a result of lack capital and poor governance.
Therefore, she said, apart from loans, PSFU would also provide sector-specific training for the different women entrepreneurs in order to benefit each sector.
“For example, if you are in the digital space, we train you on digital skills and if you are in agriculture, we shall train you specifically on issues related to agriculture. This is in addition to giving you the general business skills including business governance and financial management,” she said.
The programme codenamed GROW comes on the back of sustained efforts by PSFU to support women and youth entrepreneurs, which according to Stephen Asiimwe, the PSFU executive director, feeds into the larger Lead Firm Structure initiative seeks to respond to challenges faced by the women and youth.
“We must actively be involved in all efforts to transform this country. Over 75 per cent of our recommendations were absorbed and included in the national budget, which is a good starting point. As seen through both our advocacy works and projects we are implementing, we are fully committed to transforming the entire economy,” he said.
