Earlier today, the Kampala City Traders Association (KACITA) Uganda, in collaboration with New Faces New Voices Uganda, hosted a Women Entrepreneurs breakfast meeting. The event, centered on the theme of responsible borrowing, aimed to address the serious issue of financial sustainability among women entrepreneurs in the country. The meeting brought together a diverse group of women business leaders, financial experts, and representatives from various support organizations to discuss strategies and best practices for managing business finances prudently.
The event was praised as a great initiative to empower women entrepreneurs with the knowledge and tools they need to enhance their financial literacy and business insight. KACITA Uganda's Chairperson opened the meeting by expressing gratitude to Finance Trust Uganda for their great support in making the event possible. He highlighted the importance of collaborative efforts in addressing the financial challenges faced by women entrepreneurs.
The breakfast meeting featured several keynote speakers who shared insights on various aspects of responsible borrowing. Topics covered included understanding loan terms and conditions, assessing the risks associated with borrowing, and the necessity of maintaining a good credit history. The speakers emphasized the importance of making informed decisions when taking on debt and ensuring that borrowed funds are used effectively to generate income and support business growth.
A panel discussion followed, featuring successful women entrepreneurs who shared their personal experiences with borrowing and managing finances. The panelists underscored the significance of financial planning and the need for continuous education on financial matters. They shared stories of transforming small startups into thriving businesses through prudent financial management and the support of financial institutions that provided not just loans but also advisory services.
In addition to the discussions, the event provided a platform for networking and fostering partnerships among the attendees. Participants expressed appreciation for the opportunity to connect with like-minded individuals and industry experts. The event facilitated the exchange of ideas and best practices, further enriching the collective knowledge of the participants.
One of the notable highlights of the meeting was the recognition of Finance Trust Uganda’s efforts in supporting women entrepreneurs. The institution was praised for its tailored financial products designed to meet the unique needs of women-led businesses. A representative from Finance Trust Uganda reiterated the institution’s commitment to empowering women through financial inclusion and education, emphasizing their goal to provide not only financial support but also the necessary knowledge and skills for responsible borrowing and sustainable business practices.
The breakfast meeting concluded with a call to action for all stakeholders to continue supporting the financial empowerment of women entrepreneurs. The organizers, KACITA Uganda and New Faces New Voices Uganda, pledged to organize more such events and workshops to ensure that women in business have access to the resources they need to succeed. They stressed the importance of ongoing education and support to help women entrepreneurs navigate the complexities of borrowing and financial management.
As attendees left the venue, there was a palpable sense of optimism and determination. The discussions had sparked a renewed commitment to responsible borrowing and financial management, setting a strong foundation for the future success of women-led businesses in Uganda.
In summary, today’s Women Entrepreneurs breakfast meeting not only highlighted the critical issue of responsible borrowing but also underscored the power of collaboration and education in empowering women entrepreneurs. With continued support from organizations like KACITA Uganda, New Faces New Voices Uganda, and Finance Trust Uganda, the future looks bright for women in business in Uganda.
