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Ugandan banker, social entrepreneur, and philanthropist Theopista Sekitto Ntale has called on financial institutions to reconsider their approach to financing women-led businesses.
Speaking at the recent Gender Inclusive Financing and Innovation EXPO 2025 in Kampala, Ntale, who also serves as the Uganda Country Director of New Faces New Voices, said there are a number of challenges women entrepreneurs face when seeking financial support.
Ntale urged banks to redesign their credit scoring systems to better reflect the unique circumstances of women in business. She stressed the importance of creating a system that caters to various sectors, acknowledging the diverse financial needs of women entrepreneurs.
She also shared compelling statistics about women and finance, noting that 85% of women globally are responsible for household expenses, and 90% of them make primary health care decisions for their families.
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She pointed out that economic empowerment for women cannot be achieved without addressing their health, emphasising the need for financial systems that support their holistic needs.
Theopista Sekitto Ntale
Challenges Facing Women Entrepreneurs in Uganda
Ntale, citing a survey conducted in Uganda in partnership with UN Women, highlighted that many women in the country face inadequate and poorly structured funding for their businesses. “This is sick,” she remarked, expressing frustration at the long delays women face when applying for loans.
She shared examples of women who have experienced significant setbacks, such as one woman whose loan application, filed in January, had not been processed by May. Another woman received her loan nine months later, only to find that the dollar exchange rate had changed, increasing the cost of her loan.
Ntale called on financial institutions to address these issues by improving turnaround times and ensuring loans are processed in a timely and fair manner. She further urged financial institutions to commit to specific timelines for loan approvals to support women in their entrepreneurial journey.