KCB Uganda joins women entrepreneurs finance code

___________________

KCB Bank Uganda has officially joined the Women Entrepreneurs Finance (WE Finance) Code, a national initiative aimed at addressing gender disparities in access to finance and enhancing institutional support for women-led enterprises across the country.

The bank's participation follows an invitation from a National Coalition, which included the Ministry of Finance, Planning and Economic Development, Ministry of Gender, Labour and Social Development, Bank of Uganda, Private Sector Foundation Uganda, and the World Bank.

The Women Entrepreneurs Code unifies various stakeholders, regulators, financial institutions, development partners, and private-sector entities towards the common goal of expanding opportunities for women entrepreneurs.

Studies according to UN Women 2020 indicated that women-owned businesses in Uganda represent only about 30% of all enterprises and face significant obstacles, such as limited collateral and constrained access to credit.

During the launch at Serena Kampala Hotel, Miranda Bageine Musoke, Head of Retail Banking at KCB Bank Uganda, emphasised the bank’s commitment to providing inclusive financial solutions tailored to the unique needs of women-owned businesses.

“Women entrepreneurs contribute substantially to Uganda’s economic growth, yet many continue to struggle with accessing the financing necessary to realise their full potential. By signing the WE Finance Code, we affirm our dedication to creating products and partnerships that will empower women to succeed,” she stated.

The challenges faced by women-owned enterprises in Uganda are substantial, with only 7% of women entrepreneurs able to access formal finance channels, according to a report by the International Finance Corporation (IFC) (2020).

Through its commitment to the WE Finance Code, KCB Bank Uganda will actively contribute to a national agenda focused on enhancing financial inclusion, improving institutional responsiveness to women entrepreneurs, and fostering the growth of businesses led by women.

The bank will leverage its strong regional experience, digital capabilities, and enterprise development programs to support women across various sectors.

This initiative reinforces KCB Bank Uganda’s role as a leader in promoting inclusive and sustainable economic growth that fosters economic empowerment for all. For People, For Better.