The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Women Entrepreneurs from Busoga sub-region could benefit from access to patient and low-interest capital in the long run, thanks to the 2024 Women’s Day Katale slated for 15th and 17th March at Dam Waters Rugby Grounds in Jinja, organisers said in a press release.
This is after several financial institutions confirmed their participation in this year’s Katale with a promise of engaging the Women Entrepreneurs and later delivering banking solutions that meet their business needs.
Stephen Asiimwe, the Private Sector Foundation Uganda (PSFU) Executive Director said, that access to finance and cost of finance are some of the key issues impeding women entrepreneurs, and thus a long-term solution to these challenges would catalyze the success and sustainability of women-led businesses.
“There are several factors that speak to why women dominate the micro, small, and medium enterprise businesses but are less as you go further upwards. Number one is access to finance, and number two is the cost of finance. Women pay more money for accessing finance. In other words, there are more women in the money-lending and borrowing arena. But the cost of accessing that money is terrible,” Asiimwe explained.
He added: “As PSFU, we cannot say we are growing businesses when a significant part of our constituency is still stagnated on the low pyramid. It is not about numbers. It is about the quality of the numbers. Through the Katale initiative, these are some of the challenges that we are addressing.”
The PFSU Women’s Day Katale, implemented in partnership with Mastercard Foundation is an annual event that acknowledges the significant contributions and potential of women and girls as entrepreneurs.
It serves as a platform for young individuals to network, connect with potential customers, and expand their customer base.
The theme for this season is “Bridging Economic Divides for Women’s Prosperity.”
This third annual event builds on the success of the previous ‘Katales’ held in 2022 and 2023.
The Women’s Day Katale started in Luwero (Central Uganda) in 2022, drawing over 100 women-founded and women-led businesses. The second edition, hosted in Kampala in 2023, witnessed the participation of more than 250 women enterprises who showcased products, acquired business management skills, and delved into corporate governance.
