ADB Decries Plight of Ugandan Women

Thursday, December 22, 2005

By Aidah Nanyonjo

LIMITED access to credit and financial services by women entrepreneurs in Uganda is hindering development of their businesses, Dr Mukaila Ojelade, the resident representative of the African Development Bank (ADB), has said.

Ojelade said this during the launch of Growth-Oriented Women Entrepreneurs Country Assessment Report at Hotel Equatoria in Kampala.

?Ugandan women entrepreneurs often fall into the ?missing middle? of the financing sector either by micro-finance institutions or commercial banks as they (women) try to develop,? he said.

Ojelade said women lack land titles, which are needed as collateral security for bank loans.

He recommended a loan guarantee scheme to act as women?s collateral security to enable them access capital for growth.

Ojelade said the women also lack the necessary stalls to develop acceptable longer amounts of credit.

?Fostering women entrepreneurship development is important for the achievement of Africa?s broader development objectives which include poverty alleviation and economic and social development,? he said recently.

Ojelade urged banks to play a role in assisting women entrepreneurs to access loans and develop their businesses.

The research was carried out by the United Nation?s International Labour Organisation and funded by the African Development Bank.

Source: The New Vision (link opens in a new window)