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UWEAL BI Fundraiser
The Uganda Women Entrepreneurs Association Limited-UWEAL has launched a fundraising drive of 25 billion shillings to construct an incubation facility to help boost women’s businesses in Uganda.
Barbara Ofwono Buyondo, the chairperson UWEAL says that the facility will be constructed at Namanve Industrial Park on a two-acre plot. According to Buyondo, the facility will house up to 28 incubation spaces for new and high growth women enterprises and 80 virtual incubation spaces.
Buyondo also said that the centre will target over four million people.
Buyondo says that the initiative of the incubation centre follows studies that have shown varying results of challenges faced by women in their entrepreneurial operations.
The Chief Executive Officer, Connie Kekihembo says that construction of the facility will commence in November. She says that it will comprise of three sections: agribusiness, ICT and the business center.
Kekihembo says the incubation centre is aimed at enabling women entrepreneurs to access processing technology, business development, branding and marketing and access to local, regional and global markets.
According to the 2018 master card index of women entrepreneurship, it is estimated that as of 2016, 163 million women were starting or running a business in 74 economies, Uganda inclusive. The same report indicated that 33.8% of businesses in Uganda are owned by women.