The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Equity Bank Uganda, one of the partners of the GROW project which is being spearheaded by the ministry of gender and labour, World Bank and PSFU, have customised several of their services to suit ordinary women interested in loans.
Women entrepreneurs will be able to access a minimum of 4 million and a maximum of sh200 million at an annual interest rate of not more than 10.5% per year
“We have developed a non collateral solution based solution under Equi mama, where the ladies who borrow money in groups up to 5 million do not have to provide collateral with Equi-mama, they are given medical insurance and what we call hospital cash to cover maternity,” ED Equity Bank Elizabeth Kasedde Mwerinde at the launch of the GROW poject in Kampala today.
Mwerinde, added that “We are very excited to work with the GROW project as we support the women within this program and continue to extend it even after the period that it lasts because we are driving an ecosystem growth strategy.”
“Because we know our Mothers are Basubuzi and they tend to have their family issues and we take that extra mile to support them in this area. We also add training and financial literacy coaching at the same time and Business development services, which are free. We have agents across the country and our special offering goes specifically to the women in refugee settlements.”
“At Equity, we don’t call them Abawansi, rather they are our foundation, because in the founding of Equity Bank, there were the women who were fondly called the Mama Mbogas and these are the women who built Equity. And we will not build equity.”
Earlier, Equity Bank MD Anthony Kituuka said ” In this world it is often said that if you want anything to be said ask a man, but if you want anything to be done, ask a woman. So at Equity bank, we believe women can say and do.”
Kituuka said the bank are active in nine out of 13 settlements and have so far provided funding for 400 groups within the refugee settlement most of which are led by women.
Happening now: The government of Uganda, in partnership with @WorldBank @PSF_Uganda, is launching the GROW Loan an affordable facility to spur the growth & expansion of the women entrepreneurs & their enterprises. pic.twitter.com/USn8efHaLc
— THE GROW PROJECT (@UgGrowproject) August 28, 2024
