Women First Prosperity for All
As the Global Entrepreneurship week comes to an end, dfcu bank continues with its commitment to support entrepreneurship among women across the country.
Entrepreneurship serves as a catalyst for economic development in the country since economic development is a result of efforts taken by entrepreneurs whose decisions and actions dictate the economic growth of a country.
As more and more women start to embrace entrepreneurship the goal of achieving economic development is forming shape. There has been a realization that the best way to tackle poverty is to empower women as a catalyst for change despite the abounding challenges. dfcu bank has taken a keen interest in creating initiatives to strengthen women empowerment by providing platforms and services designed to meet the needs of women entrepreneurs.
According to Grace Makoko, a member of the dfcu Women in Business Advisory Council, women entrepreneurs need to bear in mind that most business people today are not going solo and have formed formal groups to secure financing, negotiate better trade terms, deal with various regulatory and business challenges and effectively lobby for government support. “Join an existing group or form a group with other entrepreneurs that are in similar or related business to help you deal with any challenges that you may be facing,” she advises.
dfcu bank through its Women in Business (WiB) programmehas partnered with several stakeholders like Makerere University Business School(MUBS), Institute of Certified Public Accountants (ICPAU), Uganda Law Society (ULS), Uganda Investment Authority and Daily Monitor to create a network that believes in and champions the cause of women empowerment. Leveraging the benefit of these partnerships, the WiB Advisory Council has its sights on doing more for the women.
“As a career banker, I will be adding my expertise to every initiative and working closely with the other council members to ensure that we deliver on our mandate,” Grace emphasizes.
She emphasizes that in order for women entrepreneurs to access credit and business skills they must join or form a group. This will help group members negotiate better terms as a bloc and their shared experiences will help them navigate the landscape as the more experienced members would help the less experienced ones.
As part of dfcu’s commitment to the cause, a Rising Woman Expo was held on 16th and 17th November 2018 as a platform for women entrepreneurs to showcase their products and services as well as network.