IGANGA, Uganda — Hundreds of small-scale and micro-business owners gathered in Iganga on Tuesday for a financial literacy and business growth workshop, part of Equity Bank’s “Abakyala ku Ntiiko” initiative.
The program, launched in March 2024, aims to equip women entrepreneurs with financial management knowledge, accounting, and record-keeping skills, as well as improve their access to financing.
Ruth Nakaima, Deputy Speaker of Iganga Municipality, applauded Equity Bank for its impactful initiative in empowering women. “Equity bank’s support has transformed the lives of many women by giving skills training, boosting financial literacy and enhancing confidence; and we can even empower more women to step out of their comfort zones and achieve success,” Nakaima said.
Ronald Nakhasanga, Equity Bank’s Regional Manager, highlighted the bank’s support towards women entrepreneurs through tailored offerings such as Equi Mama business loans, school fees loans, youth loans, and SACCO loans, among others. “Our purpose is truly working, we have given people dignity and the chance to create wealth,” Nakhasanga said. “When we bring women together, we want to show them that they are the roots of this nation. Through financial literacy and tailored financial products, we are empowering women to take charge of the economic future.”
Barbara Namata, Relationship Supervisor – Group Lending at Equity Bank, outlined key micro-products designed to empower businesses and individuals. “We have the Micro loan available to everyone aged 18 years and above. Asset financing which covers up to 70% of land acquisition. Also, vehicle and asset purchases with a 30% initial payment, and the Agri-micro credit facility.” “For young entrepreneurs; the Youth loan provides group-based financing ideal for boda boda purchases, while the Youth SME Loan offers up to UGX 40M for those with established businesses. Women aged 36 and above in registered groups can benefit from Equi Maama facility, which requires no collateral, while the SACCO loan supports group expansion. Other products include; the EquiGreen facility for eco-friendly initiatives,” Namata remarked.
During the engagement, several women shared their success stories, demonstrating how financial literacy and banking solutions have helped them scale their businesses. For instance, some women who previously operated informal businesses are now leveraging business loans to expand their inventory. Others have embraced digital banking solutions, allowing them to manage their transactions seamlessly and save for future investments.
The initiative also facilitated networking opportunities, enabling women entrepreneurs to learn from one another and explore potential collaborations.
The “Abakyala ku Ntiiko” drive will continue across different regions, including Lira in the North on March 25th and Kiboga in the central region on March 28th.
