Women in small and retail businesses have been urged to embrace digital marketing and networking to boost their business growth and competitiveness in the evolving marketplace.
Speaking at the Equity Bank’s Abakyala Ku Ntiiko Women Initiative held at Lira Hotel in Lira City, Prof. Judith Abal, the keynote speaker, challenged women to harness social media platforms as marketing tools rather than using them for gossip.
“The youth you see here are outpacing you in selling their products because they have adopted new technology platforms for marketing. Do not fear—ask them to teach you,” said Prof. Abal, who also serves as the Head of the Department of Commerce and Business Management at Lira University.
The Abakyala Ku Ntiiko initiative aims to equip women in micro and retail businesses with financial knowledge, business skills, and access to financing. Statistics indicate that over 38% of women engaged in business struggle to access banking services, particularly loans and insurance products, limiting their business expansion. The initiative seeks to bridge this gap by offering financial education, peer mentorship, affordable loans, and tailored insurance products.
Prof. Abal also advised women entrepreneurs to diversify their businesses to ensure financial stability. “Do not rely on only one business! Endeavor to operate at least two or more small-scale businesses to cater for seasonal demand changes if you want to pay back your Equity loan conveniently,” she said. She further emphasized the importance of quality in sustaining businesses, warning that poor-quality services and products are a major reason for business failures.
Equity Bank’s Regional Manager for Greater North, Peter Ssemakulu, commended the women for their overwhelming participation and encouraged them to explore financial products tailored for women, such as EquiMama and newly introduced insurance solutions that offer hospital cash benefits for women in the micro-business sector.
“To every woman here today, thank you for choosing Equity Bank as your financial partner. Your trust in us is invaluable, and your contributions to Uganda’s economic growth are commendable,” Ssemakulu said. “We are fully dedicated to empowering women in Lira and beyond, not just with financial solutions but with tools and knowledge to transform lives. Let us join hands as partners in this mission—together, we can and will chase poverty out of our homes and communities.”
Equity Bank’s Micro Supervisor, Tony Obonyo, highlighted key financial solutions designed for women entrepreneurs, including the EquiMama Loan Product and SAACO loans, which encourage collective savings and community wealth-building. He also introduced Equi-Green Financing, which supports environmentally friendly business initiatives with special financing terms.
The event also celebrated outstanding customers, recognizing Caroline Adong as the Best Mobilizer for the bank, Juliet Obedo as the Top Saver, and Eunice Abeja as the Most Compliant Customer.
Looking ahead, Equity Bank plans to expand its support for women entrepreneurs through peer mentorship programs, more affordable loans, specialized insurance products, and collaborations with local partners to provide additional business support.
