Kampala, Uganda: The Minister of Gender and Labour, Hon Betty Amongi, has said Uganda ranks highest in women’s business ownership across Africa, yet the majority of these enterprises remain small and underfunded due to systemic barriers in the financial sector.
Speaking at the opening of the Gender-Inclusive Financing Innovations Expo in Bugolobi, Kampala on Thursday, Amongi said 80–94% of all women-owned businesses in Uganda are microenterprises, with limited growth potential due to financial and structural challenges.
“According to the 2020 MasterCard Global Index of Women Entrepreneurs, women own nearly 40% of all businesses in Uganda. However, most cannot grow beyond micro level,” she said.
Amongi noted that women-led businesses tend to operate in more vulnerable sectors and earn 30% less in profits compared to male-owned enterprises.
“It gives me great pleasure to welcome you to this groundbreaking event—the Gender-Inclusive Financing Innovation Expo,” Amongi said. “This expo comes at a time when Uganda is advancing rapidly in the digital economy, with over 30 million active mobile money accounts and financial inclusion reaching over 75% of adults, primarily through mobile platforms.”
She warned, however, that the rapid growth masks deep inequalities in access to finance, particularly for women. Despite their contribution to Uganda’s micro, small, and medium enterprise (MSME) sector, women-led businesses account for just 24.4% of the formal loan portfolio.
“And while 65% of women now own a financial account, only 34% hold accounts in formal financial institutions—the rest remain in informal, unsecured, and sometimes risky financial environments,” she added.
Amongi said these disparities represent more than just numbers, they highlight systemic barriers that are undermining the full economic potential of women.
She pointed to ongoing government interventions, such as the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) program, which supports financial institutions and innovators to design, test, and scale tailored financial solutions for women entrepreneurs.
If you would like your article/opinion to be published on Uganda’s most authoritative anews platform, send your submission on: [email protected]. You can also follow DailyExpress on WhatsApp for realtime updates.
