November 16, 2009

Development Finance Company of Uganda (DFCU) Bank was named the 2009 Most Innovative Bank by the Global Banking Alliance for Women, a consortium of financial institutions that strive to accelerate the growth of women in business worldwide.

The award, which was presented in Singapore in October during this year’s annual GBA Summit hosted by Standard Chartered Bank, acknowledged DFCU’s efforts to develop innovative products and services for women entrepreneurs. In a market where 45 percent of small and medium enterprises are owned by women, 73 percent of Uganda’s women-owned businesses keep savings at home and only 9 percent of all SMEs in the country have access to formal credit.

Among its innovations to assist women, DFCU Bbank has introduced the Land Loan, Women in Business Investment Clubs and SACCO loans.   To date, DFCU has disbursed over $16 million to women entrepreneurs and trained over 150 women in business and management skills.

About Global Banking Alliance for Women.
The Global Banking Alliance for Women (GBA) was formed in December 2000 as a coalition of non-competing financial institutions (FIs) recognized as the "bank of choice for women" by their respective markets, and the Paris based Organization for Economic Cooperation and Development (OECD).

For more information, Contact
Theopista N. Ssekito
GBA Regional Secretariate

Or visit, www.gbaforwomen.org