Kampala, March 19, 2024 – dfcu Bank, in collaboration with MTN Uganda has today unveiled the Advancing Women Entrepreneurs (AWE) accelerator program. Launched in 2023, the program is designed to increase the participation of women owned businesses within MTN Uganda’s supply chain.
So far 118 women entrepreneurs have been selected as service providers under the program, increasing the percentage of women suppliers to MTN Uganda from 7% in 2023, to 15% in 2024.
The AWE objective of increasing participation of women in the top spend supply chain areas and supporting women to grow economically tallies with dfcu Bank’s purpose of Transforming Lives and Businesses in Uganda, and the bank’s aspiration of creating an enabling environment for women entrepreneurs to thrive.
In her remarks, Kate K. Kiiza, the Executive Director and Chief Financial Officer at dfcu Bank appreciated the partnership with MTN Uganda, saying that it would enable dfcu to support even more women entrepreneurs through the dfcu Women in Business Program. The Program was designed and continues to boost the growth and scale of women owned businesses.
To offer its financial expertise and resourcing to AWE, dfcu Bank has designed a unique proposition which includes subsidised interest rates of 1.4% per month and relaxed collateral requirements for financing contracts offered by MTN and ATC, another partner of the program. “These financial incentives will facilitate access to finance for women-owned businesses, enabling them to scale and thrive”, she said.
She further stated that dfcu Bank values the importance of trainings and equipping women entrepreneurs with the necessary skills and knowledge to succeed in today’s competitive business land scape. “To date, over 80,000 women entrepreneurs have been impacted through our women in business program which has been supporting women since 2007”, Kiiza noted.
dfcu Bank is committed to supporting women owned businesses and has done so over the years through its Women in Business Advisory Center and through it’s flagship program, Rising Woman. Women entrepreneurs participating in the AWE Accelerator Program can visit the women in business desk to access customized services and advisory.
Sylvia Mulinge, the CEO, MTN Uganda stated that the selected women have demonstrated exceptional skills, passion, and determination; showcasing the incredible potential and versatility of female-led businesses in Uganda. “By choosing these women entrepreneurs as service providers to MTN Uganda, we are not just investing in their businesses; we are investing in the future of Uganda. We believe that by empowering women economically, we create a ripple effect that benefits families, communities, and ultimately, our nation’s prosperity”, she said.
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