The government of Uganda through the Ministry of Gender, Labor and Social Development, in partnership with the Private Sector Foundation of Uganda (PSFU), have launched The Generating Growth Opportunities and Productivity for Women Enterprises (GROW) project, a groundbreaking loan initiative to empower women entrepreneurs across Uganda.

The project funded by the World Bank and implemented by the Private Sector Foundation Uganda (PSFU), aims to support women in transitioning from micro to small and medium-sized enterprises.

Speaking at the launch, Maj (Rtd) Jessica Alupo, Vice President of Uganda, revealed that the low-interest rate reduces the cost of borrowing thus enabling women entrepreneurs to access affordable financing. She noted that the resulting lower monthly payments improve cash flow ultimately creating financial stability and business development.

Alupo stated that the government will cover all loan-related fees, including processing, legal, and appraisal charges.

“This ensures that women entrepreneurs receive the full loan amount that they apply and qualify for amount without hidden costs. If the entrepreneur applies for UGX 10 million, she will receive the entire UGX 10 million. This will maximize her working capital and investment opportunities,” she said.

She advised women who will access the fund to prioritize investments that will yield measurable returns. “For instance, purchasing machinery to boost production capacity and drive more sales is a smart use of the loan. Avoid using funds for non-essential or luxury items that do not l contribute to business growth or profitability.”