Equity Bank launches second edition of women empowerment initiative

Equity Bank has launched the second edition of Abakyala Ku Ntiiko, a flagship initiative dedicated to empowering women in micro and small-scale business. This exciting day of sharing and lessons for hundreds of women, follows the resounding success of its inaugural edition in 2024.

Held in Kampala under the theme “Accelerating Action For Prosperity in Business”, women entrepreneurs, financial experts and industry leaders shared key lessons in financial literacy, networking, business financing, peer mentorship and small business management.

Recognising the crucial role women play in driving economic growth, Abakyala Ku Ntiiko (women ahead) is designed to equip women with the necessary knowledge and resources needed to scale and thrive their businesses. Through this initiative, Equity bank continues its commitment to supporting female entrepreneurship in overcoming financial barriers and achieving sustainable growth.

Speaking at the event on Wednesday, Equity Bank Managing Director Gift Shoko encouraged the women entrepreneurs to value networking.

“We believe that when women are financially empowered, they uplift families and communities as a whole,” said Equity Bank Managing Director Gift Shoko.  “The second edition of Abakyala Ku Ntiiko reaffirms our dedication to providing practical solutions that drive real change for women in micro-business.”

The event was crowned with an award ceremony that saw Managing Director Gift Shoko join regional managers to reward customers in categories: Most consistent saver; Best loan payer and Biggest supporter of the bank.

Laura Bahemuka, Equity Bank Head of Micro Segment, highlighted the challenges women face in managing finances due to multiple responsibilities and systemic barriers such as gender discrimination.

She said Equity Bank has developed tailored products like the Equi-Mama suite to address these challenges, offering personalized financial planning, investment advice and insurance coverage, which is a preserve for a few. Additionally, the Bank provides free financial literacy training and access to unsecured financing, mentorship and networking opportunities for women.

The Equi-Mama product also includes medical insurance specifically designed for women covering maternal health, long-term illness, permanent disability and life insurance.

“One of our important target markets is women. We all know the importance of financial independence for women, it not only gives them the confidence to make their own decisions, but it also allows them to support their families and communities. However, women face unique challenges when it comes to managing their finances: they often have to juggle multiple responsibilities, including their families, businesses, careers and personal lives. In addition, they may encounter systemic barriers such as gender discrimination in their various workstations or businesses, which can make it difficult to achieve financial stability,” said Bahemuka.

One of the event’s highlights was a testimonial panel featuring women who benefited from last year’s program. Jane Nalubowa, who runs about four different businesses shared: “I learned how to manage my finances better and access affordable credit. Today, my business has grown, and I am now employing more women in my community.”

According to statistics from UBOS, nearly 40 percent of small and medium-sized enterprises are owned by women in Uganda. These businesses employ millions of people and support hundreds of households.