Women continue to make their presence felt in the private sector since independence in 1962.

Last year, the third edition of the Mastercard Index of Women Entrepreneurs (MIWE) listed Ugandan women among the global leaders in terms of best entrepreneurs and women-owned enterprises.

The results reaffirmed that women could draw from enabling resources, including access to capital, financial services, and academic programs.

Babra Katende (first Left) with some of the women she has mentored.

Charles Ocici, the Executive Director, Enterprise Uganda says, women have made it on merit thanks to the deliberate efforts made to avail them with equal opportunities for education. 

This has enabled them to compete and win in different arenas, business inclusive.

The International Labor Organization (ILO) report; Women’s entrepreneurship development in Uganda (2014) shows growth in the number of women-owned businesses by 1.5 times over the last ten years.

Ocici opines that when resources are earned by women, they are utilized for the benefit of the family, unlike when men earn them.

Similarly, Ritah Aciro, Executive Director of UWONET says that domestic consumption and export are dependent on women. They are also excelling in the pharmaceutical sector.

Bottlenecks to women’s success in private sector

Aciro says that despite the noted progress, women’s full participation in economic and social development still faces obstacles.

Mary Baryamujura (centre) an entrepreneur who is passionate about uplifting Nubian women who make baskets for sale.

For example, social roles assigned to women, including domestic work and childcare, hamper women entrepreneurs’ capacity to spend as much time on their business as men.

ILO report finds that cultural norms influence the growth aspirations of women entrepreneurs. Entrepreneurship is not considered by all as an acceptable role for women.

It recommends acceptance and recognizing that today a woman can enter any private sector and succeed just as they do in education.

“We have also seen women getting ferocious attacks from fellow women. This should stop across the board,” the report warns.

Meanwhile, Babra Katende Kivumbi, a lecturer and life coach notes that women are sometimes at a disadvantage compared to their male counterparts. 

They have to work twice as hard to achieve what men get. She encourages women to work hard to be better.

Women lagging behind in financial technology (Fintech)

Research by DHR International, a global executive search firm shows that very few women are founders, leaders or even work in Fintechs.

Fintechs are firms that use technology to enhance financial processes such as facilitating mobile payments, loan provision, bill payments and money transfers, among others.

Innocent Kawooya, chief executive officer of HiPipo, a financial inclusion company says that they want to change the narrative that women cannot do technology by supporting them to become key players in the Fintech space in Uganda.

“Most of the big disruptions in technology, especially in the web space, have been by men. We want to bring women on board,” he says.

He is of the view that having more women involved in financial technology will ensure that products and services on the market are well-tailored to suit their needs since they make up a big part of the population.

What needs to be done?

According to Ocici, Initiatives have been targeting micro and smaller enterprises to get the informal woman into entrepreneurship. They form groups or SACCOS through which they are given support.

He however says that this is not sufficient to make the women breakthrough. They need further support.

Ocici adds that micro-businesses are not transformative. They reduce success to being able to meet basic needs.

“We need more empowerment of the ordinary woman to build that enterprising mindset that will remind her that it is not only about feeding the family but transforming society,” he suggests.

There is also a need to establish women-friendly desks to facilitate simplified registration at the Uganda Registration Services Bureau (URSB).

Relatedly, cultural and customary practices that discriminate against women and girls in the ownership and inheritance of property should be eliminated.

Aciro suggests that further work be done to promote positive social attitudes towards women’s entrepreneurship. 

To build women’s confidence and encourage young women to venture into growth sectors and create more employment opportunities.

There is also a need to increase the capacity of banks and SACCOs to serve the needs of women entrepreneurs.

Ocici is of a view to recognise women entrepreneurs who have excelled in different areas in order to promote role models for younger women.