dfcu Bank has today flagged off ten (10) women entrepreneurs traveling to Nairobi on an all-expense paid study excursion from 16th to 19th January 2018.
The women entrepreneurs were part of eighty (80) women who responded to call for business proposals under the Rising Woman initiative that run from July to November 2018.
The purpose of the business proposal writing competition was to provide women the chance to express their company ideas in writing and receive some funding for such ideas.
Everyone might have different ideas for beginning a business, a new bar, or even a restaurant. These funds can help them buy equipment and tools like the chair, mirror, and storage space for hair and styling products for a salon business or 30 inch steel tables, a commercial fridge, and so on to open a restaurant.
A total of over eighty 80 business proposals were submitted and independently vetted from which twenty (20) businesses had a chance to vie for the top ten (10) spots.
According to the Chairlady dfcu Women in Business Advisory Council, Dr Gudula N. Basaza, this trip will enhance their understanding of various businesses, learn how to run sustainable enterprises, take advantage of partnership opportunities as well as explore innovations and best practice that they can apply in Uganda.
“Access to information and networks is valuable in breaking the barriers to growth for many women considering they own 45% of businesses in Uganda. By sponsoring businesswomen on this study excursion dfcu is making it possible for them to gain more knowledge and also establish networks that will be valuable. It’s our hope that when they return, they too will share the knowledge acquired and mentor other women in line with the Rising Woman objectives,” added Dr. Basaza.
Agatha Nalubwama represents Mukisa Maize mill in Kayunga district which is a business run by a group of widows with a desire to improve the livelihoods of their families. She is part of the study excursion: “I want to understand the Kenyan Value chain of Maize processing, markets available for the maize food basket of Uganda and Value addition in general,” she says.
“The Rising Woman initiative has positively impacted on Uganda’s economic development by empowering women and supporting the entrance of new players in the business arena,” she adds.
The lucky top ten (10) groups include; Krystal Ice Limited involved in horticulture production, Cradle Care Mobile Application involved in providing 24/7 child care, Kalaa Mugosi involved in Arabic coffee production, Niecy Investments Limited involved in juice production, Commercial African Aquaponics involved in fish farming, Kintu PVC Greenhouses – PVC green house building, Areg-Agro Foods (U) ltd – Agro-bio business, Mukisa Maize Mill – maize production, Batenga Enterprises involved in supply of genuine auto spare parts and Youth Serve Limited involved in market acquisition for youth.
According to Victoria Byenkya, Manager dfcu Women in the Business program who is leading the team, the study excursion will involve a series of field tours covering both agribusiness and service-related enterprises in addition to workshops on subjects like building sustainable business models. This expedition would certainly make a mark in advancing the career of these budding entrepreneurs. After this, these women would be more informed in taking decisions for their business and would know when to take assistance from a professional or a firm similar to Finlyte, to better their trade.
Rising Woman is an initiative, in partnership with Daily Monitor and Uganda Investment Authority, under dfcu’s flagship Women in Business program that was introduced in 2007 to empower and accelerate the participation of women entrepreneurs in the Business arena.
The objective of the initiative is to recognize, celebrate and promote a culture of mentorship among women entrepreneurs in Uganda. Since its inception over thirty- five thousand (35,000) women have benefited from capacity building sessions organized by the bank in partnership with different stakeholders.
