In a bid to promote financial inclusion and support the government’s objective of economic growth, the Uganda Development Bank (UBD) has launched the Women Prosper Loans.
This innovative financial product is specifically designed to empower female entrepreneurs, providing them with the necessary financial support to start, grow, or expand their businesses.
Promoting Financial Inclusion
The Women Prosper Loans are a significant step towards promoting financial inclusion in Uganda. According to officials at UBD, the loan product is tailored to meet the unique needs of women-led and women-owned businesses. With loan amounts of up to Shs900M and tenures of up to 8 years, female entrepreneurs can access the financial flexibility they need to achieve their goals.
Empowering Female Entrepreneurs
The Women Prosper Loans are designed to empower female entrepreneurs, who often face significant barriers in accessing finance. By providing tailored financial support, UBD is helping to level the playing field and create opportunities for women to participate in the economy. This, in turn, can have a positive impact on economic growth and development.
Aligning with Government Objectives
The Women Prosper Loans are in line with the government’s objective of promoting economic growth and development. By supporting female entrepreneurs, UBD is contributing to the creation of jobs, income generation, and poverty reduction. This aligns with the government’s vision of transforming Uganda into a middle-income country by 2040.
The Women Prosper Loans unveiled by the Uganda Development Bank are a significant boost to female entrepreneurs in Uganda.
By promoting financial inclusion and providing tailored financial support, UBD is empowering women to participate in the economy and contribute to economic growth and development.
This initiative is a testament to the bank’s commitment to supporting the government’s objectives and promoting economic transformation in Uganda.
With improved access to finance (more funds and/or better conditions), these women-owned or led SMEs will be able to start, sustain and or broaden their activities, which would also support their competitiveness.
They will receive capacity building too covering areas such as business plan writing, development of marketing plans, and general financial and business management best practices