Stanbic Bank Uganda Limited, in collaboration with the Global Influence Club, recently hosted the annual Women in Business Forum in Kampala, Uganda. The event, themed ‘Breaking Barriers to Trade 2023,’ provided a platform for women entrepreneurs to network, acquire new business skills, and explore a range of financial solutions for their enterprises.
Eve Mpalampa, the Head of Oil and Gas Business Commercial Banking at Stanbic Bank, emphasized the bank’s commitment to supporting societal transformation. She introduced the “Stanbic for Her Initiative,” which offers training in financial literacy, cash flow management, working capital management, loan management, savings management, and debt management. Additionally, mentorship and advisory services are provided in collaboration with the International Finance Corporation (IFC), the private lending arm of the World Bank Group.
The Stanbic for Her program equips women entrepreneurs with essential business management skills and connects them to market opportunities through the bank’s extensive commercial networks. By June 2023, the program had reached over 10,000 beneficiaries and facilitated access to UGX 65 billion in discounted credit at 15.5% interest, the lowest in the market, while also mobilizing more than UGX 15 billion in deposits.
Eve Mpalampa expressed satisfaction with the program’s outcomes, noting the impressive ability of women to efficiently manage their businesses and maintain disciplined loan repayment schedules.
State Minister for Investment, Evelyn Anite, commended Stanbic Bank for its commitment to supporting and elevating women’s entrepreneurship in Uganda. She stressed the importance of adhering to best practices, including legalizing businesses, paying taxes, and maintaining records, for women entrepreneurs to thrive.
The Director General of the Uganda Investment Authority, Robert Mukiza, encouraged women entrepreneurs to utilize various government Ministries, Departments, and Agencies (MDAs) to access advisory services, land, warehousing space, and other business-enabling platforms. He outlined the criteria for investment licenses, emphasizing the importance of exceeding capital investment thresholds.
