Africa-Press – Uganda. Women entrepreneurs have been urged to embrace technology and financial literacy as essential tools for driving economic empowerment and achieving sustainable business growth.
This call was made during the Women Investment Breakfast Forum held in Kampala as part of the World Investor Week 2024 celebrations.
Irene Birungi Mugisha, President of the CEO Association, stressed the importance of addressing the financial challenges unique to women.
“It is our responsibility as leaders to create policies and platforms that are not only inclusive but also tailored to meet the needs of women entrepreneurs, investors, and decision-makers,” Mugisha said.
She emphasised the need to bridge the information gap, enabling women to fully understand and utilize financial technology solutions to unlock their potential.
Josephine Okui Ossiya, Chief Executive Officer of the Capital Markets Authority (CMA), highlighted how digital transformation is expanding markets and benefiting women-led businesses, particularly in sectors like e-commerce and agriculture.
“Eighty percent of women in smallholder farms across Africa who use mobile-based platforms have gained access to improved financial services,” Ossiya noted.
She urged Uganda to adopt similar innovations to empower women entrepreneurs locally.
The forum also stressed the importance of financial education, particularly in corporate governance.
“It’s vital that we teach women the value of having business structures in place, which will help them grow their ventures sustainably,” Ossiya added.
Paul Bwiso, CEO of the Uganda Securities Exchange (USE), encouraged women to maintain good business records, collaborate with others, and seek expert advice for long-term success.
He noted that the forum provided valuable insights into how women could benefit from capital markets, especially as Uganda’s youth population presents new opportunities for investment.
Dr. Christine Lubega, a healthcare practitioner, advised women entrepreneurs to work together and support one another.
“The moment you invest in a woman, you invest in the community,” she said, stressing the collective impact women can have on society.
Susan Namaganda, a Capital Markets Consultant, pointed out that many women face the challenge of balancing family obligations with their investment opportunities, often referred to as the “black tax.”
Namaganda urged women to navigate these challenges while still prioritising their financial futures.
Brenda Amony, Portfolio Relationship Manager at Deal Flow Facility, encouraged women seeking capital to formalize their businesses and focus on long-term sustainability.
“Your business should be able to thrive without you,” Amony advised.
The forum also highlighted the success of women in debt repayment.
Sarah Bateta Okwi, Chief Financial Officer at MTN Mobile Money Uganda, revealed that women borrowers tend to outperform men in paying off loans, underlining women’s reliability in managing financial commitments.
The event, organized by the Capital Markets Authority and the Uganda Securities Exchange, aimed to empower women entrepreneurs to explore investment opportunities and utilize technology to secure their financial futures.
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