Women in Jinja district were some of the beneficiaries of the GROW project
HABARI DAILY I Kampala, Uganda I The Generating Growth Opportunities and Productivity of Women Enterprises (GROW) project has also gone a long way towards changing the lives of women with disabilities. According to a recent report, targeted disbursements to vulnerable groups have been recorded countrywide and the disbursement rate to such beneficiaries id slowly picking up.
The report says that six refugee women entrepreneurs accessed loans and that 159 others in refugee-hosting districts received financing across several regions
“Even though the amounts to refugees are still modest, the fact that money is reaching these women is significant,” Dr Kasolo said. “It confirms that the facility is inclusive,” reads part of the report.
Women with disabilities benefited, with Shs 258.9 million disbursed to 16 borrowers, including one who completed repayment and qualified for a second loan.
“Every shilling extended to women with disabilities represents an opportunity for independence and economic participation,” Dr Kasolo said.
Under the GROW Loan framework, borrowers who repay on schedule qualify for a performance grant, known as the GROW Bonus, equivalent to 5 percent of the loan amount, with higher percentages for refugees, women in refugee-hosting districts, and women from affirmative action regions
“The bonus is an incentive that rewards discipline and good business practices,” says the report. “It effectively puts more money back into women’s businesses.”
Overall, the report concludes that 73.8 percent of the year-one lending target was achieved, with strong performance in both small and large loan categories, and a solid repayment rate supporting continued lending.
“For us, the most powerful message is the volume of money that has reached women entrepreneurs in just one year,” Dr Kasolo said. “sh73.3b is already working in the economy, growing businesses, supporting jobs, and transforming livelihoods.”
Betty Amongi Akena is the Ugandan Cabinet Minister of Gender, Labour and Social Development recently pointed out that one of the major advantages of the GROW Loan facility for women entrepreneurs is access to affordable credit at low interest rates.
“This is done under flexible security requirements, and a comprehensive package of integrated free business support services like training and mentorship,” she said.
About the Author
