Kampala, October 4, 2023 – dfcu Bank, a leading financial institution in Uganda, has partnered with MTN Uganda to launch the “MTN@25 Advancing Women Entrepreneurs” (AWE project), a three-year program aimed at empowering women entrepreneurs across the country. This collaboration is designed to increase the participation of women-owned businesses within MTN Uganda’s supply chain, with a specific focus on the technology sector. Other partners of the initiative include, MTN Mobile Money (MOMO), The American Tower Corporation (ATC), UN Women, The Private Sector Foundation Uganda (PSFU), Innovation Village, NSSF Hi Innovators and Outbox.
dfcu Bank has been a champion of advancing women’s entrepreneurship in Uganda since 2007, and the AWE project aligns perfectly with the bank’s purpose of “Transforming Lives and Businesses in Uganda.” The AWE initiative aims to create an enabling environment for women entrepreneurs to thrive by providing them with access to financing and essential business development skills.
Charles Mudiwa, CEO of dfcu Bank, expressed his enthusiasm for the project at the launch event: “dfcu has embarked on a dedicated journey to support women entrepreneurs since 2007. Our guiding principle has been the recognition that many women exert tremendous effort, yet opportunities for them to secure financing were scarce. Over the years, our journey has yielded exponential growth. Today, we express our sincere gratitude to MTN Uganda and all our valued partners who have played an instrumental role in making this endeavor possible.”
At the launch of the AWE Initiative, Sylvia Mulinge, MTN Uganda Chief Executive Officer aptly stated, “As part of our commitment to this cause, we are determined to increase the local spend on women entrepreneurs participating in the top spend categories in the telecom industry and build an inclusive market-oriented platform that supports and attracts women entrepreneurs.”
Within the framework of the AWE program, dfcu Bank will extend tailored financial solutions, encompassing contract finance/LPO to empower AWE participants with essential capital for technology projects and other categories. Additionally, female contractors enrolled in AWE will benefit from dfcu’s working capital financing, featuring subsidized interest rates to address their day-to-day operational needs.
Furthermore, dfcu Bank will provide a broad spectrum of financial instruments, including Asset Financing, Insurance Premium Financing, and Trade Finance solutions such as Letters of Credit and Guarantees, as necessitated by the participants. Complementing these offerings, dfcu Bank’s dedicated Women in Business Program boasts a proficient team of Relationship Managers, uniquely positioned to provide valuable guidance and support to women entrepreneurs throughout their journey.
Historically, dfcu Bank has empowered women in business, with over 30,000 women-owned enterprises actively enrolled in the dfcu Women in Business program. The Program serves as a well-placed platform for Ugandan women entrepreneurs to access resources, including capacity-building programs such as business advisory services, business acceleration skills, and value-enhancing networking opportunities through the Agribusiness Development Centre.
dfcu Bank’s flagship program, “Rising Woman,” also offers vital support in the form of seed funding, mentorship, extensive networking platforms, regional exposure programs, and comprehensive business profiling to further nurture women-led enterprises across Uganda.