Overview:
dfcu Bank launches GROW project in Eastern Uganda, supporting women-led businesses with financial solutions, capacity building, and economic empowerment.
KAMPALA, UGANDA – dfcu Bank has expanded its GROW initiative to Eastern Uganda, providing women entrepreneurs in the region with financial support and business training to scale their businesses.
The launch in Jinja marks a significant step in dfcu Bank’s commitment to fostering economic growth and supporting women in business through access to affordable credit, tailored financial solutions, and capacity building.
“The GROW Loan is designed specifically for women in business who are looking to expand and strengthen their enterprises,” said Hope Nakhayenze, dfcu Bank’s Chief Risk Officer. “We’re not just providing financial support, but also engaging with entrepreneurs to understand their businesses and challenges, ensuring their success.”
Key features of the GROW Loan include:
- Low interest rate of 10% per annum
- Repayment period of up to 2 years
- Loan amounts ranging from 4 million to 200 million UGX
- GROW bonus of 5% to 10% for consistent loan repayment
Eastern Uganda is home to numerous small and medium-sized enterprises (SMEs) led by women, particularly in agriculture, trade, and manufacturing. The GROW initiative aims to empower these entrepreneurs, driving household and community economies.
Jinja City Mayor, Alton Peter Kasolo, welcomed the initiative. “This partnership with dfcu Bank will contribute to the growth and prosperity of Jinja and the entire Eastern region.”
dfcu Bank has already disbursed 5.2 billion UGX to 113 women and trained 800 entrepreneurs in risk management, business skills, and formalization.
The GROW project is part of dfcu Bank’s Women in Business (WiB) program, demonstrating the bank’s dedication to women’s economic empowerment and Uganda’s overall economic development.