Gulu City in Uganda has recently launched a significant new program set to empower nearly 1,000 women. This initiative, generously funded by the Gates Foundation, aims to provide women with the essential tools and support they need to achieve financial independence and build stronger businesses.
The program, a partnership between Stanbic Business Incubator Uganda and Gulu City, will focus on three key areas: teaching women how to manage money effectively, developing their entrepreneurial skills, and ensuring they can access trustworthy financial assistance. The ultimate goal is to boost household incomes and create sustainable businesses that benefit the entire community.
Gulu City Mayor Alfred Labeja praised the program as a vital intervention. He highlighted that it will help women break free from dependence on exploitative money lenders, who often burden them with high costs. Mayor Labeja explained that when women understand finances and use resources wisely, they are better equipped to transform their families and communities. He urged all participants to invest the support they receive into productive ventures that will generate income for the long term. The Mayor also confirmed the city’s strong commitment to ensuring the program succeeds, with training for beneficiaries scheduled to begin in August.
Women attending the launch expressed great enthusiasm, viewing the program as a solution to major challenges they have faced. Many shared that growing their businesses has been incredibly difficult due to a lack of affordable loans and proper business education. Grace Ayaa, a local market vendor, explained that for years, many small businesses have been kept afloat by expensive loans. She believes this new program offers a genuine chance to develop their businesses correctly and sustainably. Another beneficiary, Sarah Acen, emphasized that the financial literacy training is just as important as the money itself. She noted that knowing how to manage, save, and invest wisely is crucial for building businesses that can support families for generations.