The Independent Uganda: You get the Truth we Pay the Price
“With what we have seen so far on the ground, a correct decision was made to channel these development funds through women,” She noted, adding that she would raise the issue of inadequate funding on the floor of parliament and lobby support of her colleagues.
Frank Mugabi, the UWEP Communications Officer, explained that while women form the largest share of participants in the informal sector, they face the biggest challenge in accessing credit.
“This is a profound mismatch in our economy because it means that women are financially excluded despite being a critical mass of players. UWEP is in place to fill that gap.” Mugabi said.
He noted that the promotion of women entrepreneurship is one of the avenues for wealth creation as there is great potential and benefit in investing in women enterprises in the Country.
He revealed that nationally, out of Shs.7.3 billion expected to have been recovered by 30th November, 2018, Shs5.2 billion had been recovered. This amount represents a recovery rate of 70.4% of the total amount due.
“This is an envious recovery rate even to the commercial banks, which take women to be not creditworthy.” Mugabi asserted.
He revealed that beneficiary women have now started buying individual assets like land, solar units and other household items including paying school fees for their children out of group proceeds.
He noted that the programme was on the path to enhancing women’s contribution to national development if funding is increased.
