Minister for Science, Technology and Innovation Jonard Asiimwe has called for increased financing and other support for women-owned rural enterprises, saying their contribution will be critical if Uganda is to accelerate its drive towards a 500-billion-dollar economy. Asiimwe said women currently own close to 40 per cent of micro, small and medium enterprises in Uganda, a figure he described as significant given the social and economic barriers they face, particularly limited access to capital. He said greater access to affordable financing would enable more women to start, sustain and expand businesses and create employment in their communities.
Asiimwe cited a group of about 5,000 women who he said had been supported by his foundation and accumulated savings of Shs8 billion. He said the savings had enabled members to sustain and expand their businesses while also extending affordable loans to other members.
The minister was speaking during the graduation of women-led technology and technology-enabled businesses under the Standard Chartered Foundation Women in Tech Programme. Five startups — AeroCAD Learner, Ingo Female Transporter, MobiKlinic Holdings, Rhizonecare Ventures and Che Innovations Uganda — each received 10,000 dollars, equivalent to about Shs37 million, to support their next phase of growth.
The funding followed a competitive pitch process held during the graduation of the programme’s second cohort. The programme supported women-led businesses through a six-month business acceleration programme that included mentorship, investment-readiness training, networking and exposure to investors and other players in Uganda’s innovation ecosystem.
Asiimwe said supporting women innovators would contribute to job creation, strengthen communities and advance Uganda’s Tenfold Growth Strategy. “By empowering women innovators, we are expanding opportunity, creating jobs, strengthening communities, and accelerating Uganda’s journey towards the Tenfold Growth ambition.”He called for stronger collaboration between government, the private sector, development partners and universities to create an enabling environment for innovators and entrepreneurs.
Japheth Kawanguzi, Chief Executive Officer of Innovation Village and the programme’s lead trainer, said the catalytic funding would help the five businesses turn the knowledge, networks and investment-readiness skills gained during the programme into business growth.
“The catalytic fund provides these founders with an opportunity to translate the knowledge, networks and investment-readiness skills gained through the programme into the next phase of their businesses. More importantly, the showcase creates a platform for them to connect with investors, partners and collaborators who can support their continued growth,” Kawanguzi said.
He said the programme had shown women entrepreneurs’ ability to develop technology-driven solutions to challenges in different sectors but added that continued support would be important as the businesses seek to scale. Margaret Kigozi, Head of Corporate Affairs at Standard Chartered Bank Uganda, called for greater collaboration to build a stronger pipeline of investable women-led businesses.
She said women entrepreneurs need improved access to capital, visibility and long-term support within the innovation ecosystem. Sanjay Rughani, Chief Executive Officer of Standard Chartered Bank Uganda, said the graduation marked the culmination of months of learning, mentorship and business development for the participating entrepreneurs.
He said the Women in Tech Programme was aligned with Uganda’s national development priorities and the Tenfold Growth Strategy. The programme seeks to strengthen women-led enterprises by improving access to business development support, investment readiness and connections to potential investors and partners-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
