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The Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project is providing vital support for women entrepreneurs across Uganda, especially those looking to expand their established businesses.
A key component of this support is networking, which plays a crucial role in the success of any entrepreneur.
For female business owners, networking is even more essential as it offers them the opportunity to overcome unique challenges and access valuable resources.
GROW actively supports the creation of Women Entrepreneurship Platforms (WEPs), which are multi-level and multi-sector business associations designed specifically for women.
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These platforms offer a supportive environment for women to network, share knowledge, and receive mentorship. Through WEPs, GROW connects beneficiaries to vital services and information that can help their businesses thrive.
Additionally, industry events and conferences are organised to help women entrepreneurs connect with industry leaders and stay informed about the latest trends.
Capacity-Building Firms and Their Role
Capacity-building firms, such as the Uganda Women Entrepreneurs Association Limited (UWEAL), play a pivotal role in the GROW Project by mobilising and preparing women entrepreneurs to access GROW services. These firms act as the district WEP managers, helping to create policy recommendations and work plans, while also facilitating the establishment of new WEPs and strengthening existing ones.
They are responsible for implementing communication and advocacy strategies that are essential for the success of the project.
By organising and facilitating relevant working groups, these firms ensure that women entrepreneurs receive the necessary tools to grow their businesses.
Their work is critical to the GROW Project’s goal of transforming women from informal entrepreneurs into Small and Medium Enterprises (SMEs) that contribute to Uganda's economic development.
Addressing Collateral Challenges for Women Entrepreneurs
Despite the success of the GROW Project in empowering women to grow their businesses, challenges remain. One of the main obstacles is the lack of collateral, which is required by some of the banks participating in the programme.
Dr. Ruth Kasolo, the GROW Project Coordinator, highlighted that while many women entrepreneurs have thriving businesses, they are often unable to access loans due to this barrier.
In response, Dr. Kasolo has called on Ugandan men to assist their wives in providing collateral, thus enabling them to access the loans and expand their businesses.
"We are calling on the men out there to help their wives with collateral so that they can access these loans and expand their businesses,” Dr. Kasolo urged. She explained that 53% of women who have received loans under the project are married, making men’s involvement crucial for the success of these women.
Empowering Women for Economic GrowthThe GROW Project is designed to support women who are already established in business and are looking to transition from informal operations to SMEs.
Unlike other government initiatives like PDM and Emyooga, GROW focuses on women who are ready to take their businesses to the next level. The project partners with six commercial banks, offering growth-oriented loans with a minimal interest rate of 10%.
While the programme has faced criticism for its higher interest rates and extensive paperwork, Dr. Kasolo clarified that these features are intentional, ensuring that the project targets women who are committed to growing their businesses.