Overview:
UDB MD Patricia Ojangole highlights women's economic empowerment as key to Uganda's sustainable growth and poverty reduction
KAMPALA, Uganda — Women’s economic empowerment is crucial to unlocking Uganda’s sustainable growth, according to Patricia Ojangole, Managing Director of Uganda Development Bank (UDB).
“Women’s economic empowerment is key to unlocking Uganda’s sustainable growth,” Ojangole said. “A country that expands women’s economic opportunities and their ability to make decisions about these opportunities, is better positioned to achieve better education and health outcomes for its children.”
Ojangole noted that women dominate the agricultural sector, accounting for 77% of the labor force, yet they face significant barriers to economic independence.
“Land is a critical resource in unlocking access to finance as it acts as security for credit provided by both formal financial institutions,” Ojangole said.
According to Ojangole, the latest census figures indicate that out of Uganda’s total population of 45.9 million, 24.3 million are female, representing 53%. However, despite this demographic advantage, women face significant challenges in accessing land and credit.
“Findings from the 2024 population census further reveal that only 31% of female-headed households own land, compared to 51% of male-headed households, underscoring the gender gap in land ownership and economic independence,” Ojangole said.
To address this, UDB has launched targeted interventions, including the Women Prosper Loans, which provide financing for women-owned businesses, and the SME Kazi Loans, which offer loans to small and medium-sized enterprises (SMEs) owned by women.
“Through these initiatives, we aim to empower women to become drivers of economic growth and reduce poverty in Uganda,” Ojangole said.
In 2023, UDB supported projects that created and maintained 51,841 jobs, with 27% of those jobs going to women. Additionally, 39% of women were among shareholders of UDB-supported projects.
UDB has also partnered with organizations such as the Uganda Women Entrepreneurs’ Association Limited (UWEAL) and Chemonics-SIA to provide business advisory services and funding to women and SMEs.
“Empowering women is not just the right thing to do, but also a sure way to unlock the potential that lies in Uganda’s critical sectors of the economy,” Ojangole said.