Women business owners face major challenges when seeking bank loans because they must provide valuable property as security. Many female entrepreneurs cannot access traditional financing because they lack land titles, vehicles or other expensive assets that banks demand. Rural women especially struggle with these strict requirements that block their path to business growth.
Uganda launched the GROW project during 2023 to expand financial services for women entrepreneurs across the country. The Ministry of Gender, Labour and Social Development runs this program with Private Sector Foundation Uganda using World Bank money. Six commercial banks distribute these special loans to female business owners who meet basic requirements.
Banks...