66 female entrepreneurs receive Shs4.8b funding under Hi-innovator programme

A total of 66 female entrepreneurs have received funding worth Shs4.8 billion seed funding through the Hi-innovator Women Accelerator programme.

The Hi-innovator programme started by the National Social Security Fund-NSSF in partnership with the Master Card Foundation, is aimed at giving women entrepreneurs across all sectors an opportunity to improve their business skills and grow their businesses.

Speaking at the award function in Kampala on Tuesday, Adrian Bukenya, the Country Director Uganda, Mastercard Foundation, said: “I’m honoured to be part of the first accelerator that seeks to empower women-led accelerator businesses, this is history in the making. Congratulations to the partners and organisers.”

“Mastercard Foundation aims to address systematic gaps that prevent women-led businesses from thriving and together we are supporting women entrepreneurs with capital, training and mentorship,” he added.

Patrick Ayota, the NSSF Acting Managing Director, said that each female entrepreneur will receive Shs66m and tailored technical support in the next few months.

“Luck will always come to those who are prepared, as you go out today with the the things you’ve heard and learnt, don’t get discrouaged to participate again. If you have not got money this round, you now know what to do next time, come again,” he said.

According to Ayota, the program has enabled over 500 women entrepreneurs to formalize their businesses, giving them a step to access funding easily.

The beneficiary businesses were from the agriculture, energy, health, nutrition, real estate, ICT, fashion, and education sectors.

Aisha Nabwanika, the Chief Executive Officer and co-founder of Ewaffe Tour Company one of the entrepreneurs who received funding say that she will use the money to set up an online platform that will boost her business among other activities.

According to records, since the inception of the program in 2021, 220 businesses have received seed funding worth 18 Billion Shillings and skilled 12,000 youths of which 30 percent are female.