By Annette Kiconco, Chief Retail Banking Officer, dfcu Bank

For nearly two decades, conversations about women in business have focused on one word: access. Access to finance, markets, skills and networks. Those conversations have been necessary because many women entrepreneurs first needed an opportunity to compete.

Today, however, Uganda is entering a new phase. Women are no longer just starting businesses; they are creating jobs, embracing technology, expanding into new markets and entering industries once considered out of reach. The challenge is no longer simply helping women start businesses—it is helping them scale sustainable enterprises that can compete, innovate and participate in formal value chains.

This shift inspired the second phase of the Advancing Women Entrepreneurs (AWE) programme, a partnership between dfcu Bank and MTN Uganda. AWE has evolved into a comprehensive ecosystem that supports women-owned businesses with mentorship, business development, market access and financing, enabling them to transition from enterprise participation to enterprise leadership.

The first phase demonstrated what is possible through collaboration. More than 100 women-led businesses participated, collectively securing over UGX 62 billion in corporate contracts while increasing women's participation in corporate supply chains. These results confirmed that the greatest barrier for many entrepreneurs is no longer ambition, but breaking through the growth ceiling that separates small businesses from scalable enterprises.

Launched under the theme "She Means Business," AWE 2.0 goes beyond financing. Running until November 2026, the programme equips women entrepreneurs with digital transformation skills, investor and procurement readiness, ESG integration and direct access to corporate supply chains. Delivered alongside partners including MTN Uganda, The Innovation Village, Private Sector Foundation Uganda (PSFU) and NSSF Hi-Innovators, the programme recognises that lasting business growth requires an ecosystem, not a single intervention.

At dfcu Bank, we have committed UGX 30 billion over the life of the programme to finance women executing MTN Uganda and American Tower Company contracts through affordable lending and flexible collateral requirements. But we also recognise that finance alone is not enough. Businesses must be investment-ready, governance-ready and operationally prepared to compete in today's marketplace.

This philosophy has guided dfcu's Women in Business programme since 2007. Over the years, the programme has supported between 74,000 and 85,000 women entrepreneurs and facilitated more than UGX 95 billion in financing.

The same commitment is reflected in the dfcu Rising Woman Initiative, which has trained more than 60,000 women and reached over one million others through virtual engagements. Through mentorship, seed funding and international exposure, Rising Woman has helped redefine women entrepreneurs as manufacturers, innovators, exporters and employers.

Our participation in the Government of Uganda's GROW Project, supported by the World Bank, further strengthens this ecosystem. Through affordable financing and specialised products tailored to women-owned businesses, the initiative expands access to the capital entrepreneurs need at different stages of growth.

Together, these programmes create a continuum of support. Women in Business lays the foundation. Rising Woman builds confidence and capability. GROW expands access to affordable finance. AWE connects women-owned businesses to procurement opportunities and corporate supply chains.

This integrated approach matters because today's business environment demands far more than a good product or service. Large organisations increasingly assess suppliers based on governance, compliance, sustainability, digital capability and operational maturity. Women-owned businesses that invest in these capabilities will be better positioned to win contracts, attract investment and expand into regional markets.

Uganda's private sector cannot reach its full potential while women remain underrepresented in corporate value chains. Women already own thousands of businesses across manufacturing, agriculture, retail, logistics, technology and professional services. The opportunity now is to help these businesses become larger employers, stronger exporters and trusted partners in national development.

For nearly 20 years, dfcu Bank has viewed women's enterprise development not as corporate social responsibility, but as a strategic investment in Uganda's economy. Every successful women-owned business creates jobs, strengthens households and contributes to inclusive economic growth.

The conversation is no longer about giving women a seat at the table. They have already earned that place. The next step is ensuring they have the capital, capabilities and partnerships to shape Uganda's economic future.

At dfcu Bank, we remain committed to making that happen.