Equity Bank has started the second edition of Abakyala Ku Ntiiko, a flagship initiative aimed at empowering women in micro and small-scale business, following the overwhelming success of its first iteration in 2024.
Abakyala Ku Ntiiko was created to give women the skills and resources they need to grow and succeed in their companies because it acknowledges the vital role that women play in promoting economic progress. Equity Bank is demonstrating its dedication to helping female entrepreneurs overcome financial obstacles and achieve sustainable growth through this project.
In order to promote financial literacy, networking, company finance, peer mentorship, and small business management, hundreds of women entrepreneurs, financial experts, and industry leaders gathered at the Kampala event with the subject “Accelerating Action For Prosperity in Business.”
Speaking at the event on Wednesday, Equity Bank Managing Director Mr 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 head of Equity Bank’s Micro Segment, Laura Bahemuka, emphasized the difficulties women encounter in handling their money because of their many obligations and structural obstacles like gender discrimination.
To address these issues, she added, Equity Bank has created specialized products like the Equi-Mama suite, which provides individualized financial planning, investment guidance, and insurance coverage—a luxury for a select few. The Bank also gives women access to unsecured lending, networking opportunities, mentorship, and free financial literacy training.
Additionally, the Equi-Mama program offers life insurance, long-term illness, permanent disability, and maternal health insurance tailored to women.
“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. Ms 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.
In Uganda, women own around 40% of small and medium-sized businesses, according to UBOS figures. These companies sustain hundreds of households and employ millions of people.
Equity Bank acknowledges the critical role women play in the advancement and development of a community. In 2021, it established credit facilities to assist women in small businesses in overcoming the obstacles they experience on a daily basis. These facilities currently provide free financial management training, networking opportunities, peer mentorship, insurance coverage, and unsecured finance to over 400,000 women and kids. Women are given financial support to expand their businesses and are encouraged to save under the Equi-Mama credit program. According to Bahemuka, the bank enrolls and empowers women financially in an effort to change society by using the well-known belief that “women are the best savers and payers.”
Bahemuka says free financial literacy training has become mandatory for the youth and women. “We realized that it is not good to keep pumping our clients with money without taking them through basics such as saving, budgeting, loan management. Therefore, we participate in grooming each of them in the management of whatever business one invests in.”
Abakyala Ku Ntikko events will concentrate on regional gatherings in Masaka (18 March), Iganga (21 March), Lira (25 March), and Kiboga (28 March) after the inauguration in Kampala.
