Iganga: As part of its efforts to promote entrepreneurial development among women, Equity Bank Uganda has launched the second edition of its Abakyala Ku Ntikko project. The initiative, held at Musana Sol View Hotel in Iganga town, aimed to equip businesswomen with essential financial literacy skills.
Aligning with this year’s Women’s Day celebration theme, Accelerating Action, the financial institution is undertaking this significant initiative through its notable Abakyala Ku Ntikko project.
Introduced in 2024, the initiative is organized in several regions across the country, focusing on strengthening women in the business community.
On Friday, March 21, 2025, financial education took center stage in Iganga town, attracting hundreds of businesswomen from the greater Iganga district and beyond.
Experts in financial literacy, security personnel, and community development officers led the training, which covered critical topics such as managing loans, saving, and security.
Ms. Salimah Kauma, a financial literacy educator at Equity Bank, emphasized the importance of taking loans that businesses can afford to repay.
“We should not bite off more than we can chew. If your business has a capital of Shs10 million, why should you take a loan of ten million?” Kauma questioned, highlighting that “business profits are what clear the loan.”
Kauma also emphasized the crucial role of saving with a clear purpose and objective. Women, she noted, should define their reasons for saving—whether for a specific goal, emergency funds, or long-term security.
She further stressed the importance of record-keeping in business, stating, “We must keep records in our businesses for future purposes.” This practice helps entrepreneurs make informed decisions, track progress, and ensure accountability.
Additionally, Kauma warned against taking multiple loans from different financial institutions, citing it as a significant threat to business stability. This advice reinforced the importance of financial discipline and responsible borrowing practices.
Esther Nandase Omongini, Principal of Berkeley High School in Iganga, who presided over the event, encouraged the women to be passionate about their work and stay focused on their goals.
“Let us have passion for whatever we do. Our colleagues have excelled in business because they are determined and focused,” she said.
SSP Patrick Byarujanga, the Iganga District Police Commander (DPC), cautioned women on the importance of prioritizing security in business, warning against conmen who target female entrepreneurs.
“The majority of the offenses registered here are reported by women, complaining that they were conned by ‘town clevers’ at the bank,” Byarujanga stated.
He further urged women to prioritize their safety, saying, “Women carry money in their bags and often walk home in the dark after work. Why can’t you sacrifice one thousand shillings and get a boda-boda to escape thugs and protect the money you worked so hard for?”
Annet Kanyago, a beneficiary of Equity Bank’s loan program, shared her success story, highlighting how she grew her business from Shs2 million to becoming the director of a skilling center in Bulubandi town.
Ruth Nakayima, a local councillor representing workers in Iganga district, praised the Abakyala Ku Ntikko initiative, emphasizing that women deserve such empowerment programs as they are key drivers of development.
Nakayima, who also serves as the deputy speaker for the Iganga district council, encouraged women to be bold and take the first step in establishing their businesses, urging them to overcome their fear of taking loans. She stressed that businesses grow with loans, and women should believe in themselves and take a step forward to boost their businesses.
“We hear that banks deal with millions, and that’s why we fear taking loans. Believe in yourself, be bold, and take a step forward to grow your business,” Nakayima advised.
Margaret Lukowe, Marketing Manager at Equity Bank, highlighted that the Abakyala Ku Ntikko 2025 initiative aims to include women in development and drive societal transformation.
“Equity Bank’s contribution to women’s empowerment includes establishing accessible loan schemes for entrepreneurs seeking to grow their businesses. These loans are easily granted to organized, registered groups and private individuals with mortgages,” Lukowe said.
Kanyago, one of the program’s participants, testified about her business success after securing a loan from Equity Bank. She started with Shs2 million and is now the director of a skilling center in Bulubandi town, having exercised financial discipline through smart saving and responsible borrowing.
“We used to fear banks because of their complex English, but now we can confidently access loans,” she said.
The Abakyala Ku Ntikko initiative is part of Equity Bank’s broader efforts to empower women in micro and small-scale businesses. The program provides women with the necessary knowledge and resources to scale and thrive in their businesses, addressing financial barriers and ensuring sustainable growth.
