Centenary Bank the leading Microfinance institution in Uganda in partnership with Shaka Zulu Foods Limited, a three-star restaurant in Bugolobi have today rewarded Cente SupaWoman groups with assorted kitchen equipment worth Ushs. 20 million in celebration of International Women’s Day.
The International Women’s Day is celebrated globally on 8th of March of every year, with the intention to honor women from different walks of life and who play an instrumental role in contributing to society in one way or another.
Beatrice Lugalambi, the General Manager Corporate Communications & Marketing at the bank in her remarks noted that women are taking more responsive roles in activities geared towards boosting the economy in various sectors which ties in tandem with this year’s International Women’s Day theme.
According to the 2018 Mastercard Index of Women Entrepreneurs (MIWE) report, Uganda was ranked in 1st position out of the 58 Countries that were assessed globally as the country with the highest number of women business owners.
However, women in Uganda, have continuously been challenged with access to affordable credit and apt financial literacy to be able to fund their businesses, efficiently run them and enable them grow and realize their dreams.
“Centenary Bank has continuously invested in women empowering programs in Uganda including financial literacy, funding of corporate social Initiatives aimed at training and improving the livelihood of Women and the girl child through the Cente Supawoman product,” Lugalambi highlighted.
While addressing the media, Kikungwe Umar, the Managing Director at Shaka Zulu Foods Limited, revealed that “Our decision to partner with Centenary Bank was informed by our knowledge of the women-focused initiatives championed by the bank in offering financial inclusion and women empowerment since there are immense opportunities for such businesses to thrive, given requisite support.”
“Owners of small businesses, especially female entrepreneurs have limited information on avenues to access financial services and resources that limit their ability to improve and grow their businesses,” Kikungwe explained, adding that, “Such a platform like Cente SupaWoman provides the opportunity for the entities like Centenary Bank to echo the message of the channels through which financial services can be accessed.
Over the years, the bank has registered over 17,000 Supa women members, with over 5,000 that have accessed the bank’s credit services to start or boost their businesses. The SupaWoman Account offers a range of services including; access to a credit of up to Ushs. 5 million without collateral, financial literacy training, business skills training, and networking opportunities among others.