PostBank, WiBAS tip women entrepreneurs on business growth

LIRA, Ugand — PostBank Uganda and the Women in Business Awards (WiBAS) have equipped more than 700 women entrepreneurs in northern Uganda with crucial financial literacy and business management skills. The initiative, part of the second WiBAS Handholding Workshop, aims to foster sustainable business growth in the West Nile, Acholi, Lango, and Karamoja regions.

The workshop, themed “Handholding Women for Business Sustainability,” built on last year’s inaugural session, which saw over 220 participants from women-led enterprises, Village Savings and Loan Associations (VSLAs), Saccos, and micro-businesses. This year’s 719 participants significantly expanded the program’s reach, enhancing their competitiveness, business acumen, and access to key economic opportunities.

Uganda ranks second globally in the Mastercard Index of Women Entrepreneurs (MIWE), with 38.4% of business owners being women, just behind Botswana’s 38.5%. This indicates that nearly four in every 10 business owners in Uganda are women, who also constitute 52.5% of the labor force.

However, women entrepreneurs often face unique challenges, including legal discrimination, restrictive gender norms, limited access to education and skills, and constraints in accessing finance, assets, networks, and information. These factors can hinder business growth, limiting financial independence and overall economic development.

PostBank’s partnership with WiBAS addresses these barriers by providing financial literacy and business training, raising awareness of government programs like GROW, PDM, and Emyooga, and offering customized banking services for women. The bank also facilitates linkages to markets, technology, and financial services.

“We believe that women are the backbone of our communities and a key driver of Uganda’s economic transformation,” said Enock Okwara Edwaru, PostBank Uganda’s Lira branch manager. “Through initiatives like WiBAS, we are creating a supportive ecosystem that enables women to move from subsistence-level enterprises to sustainable businesses.”

PostBank’s digital wallet, Wendi, further supports women entrepreneurs by offering affordable and convenient financial services. Wendi provides a reliable platform for daily transactions and acts as a financial management system to promote transparency, accountability, and better record-keeping.

Programs like WiBAS are seen as vital for uplifting women entrepreneurs in Uganda, contributing to the nation’s sustainable economic development.