Equity bank takes affordable financing to Buvuma

What the report says

Women entrepreneurs in Buvuma district are set to gain access to affordable financing, business training and enterprise development support after the government’s GROW Project was extended to the island district, The Observer reported. The programme is implemented by the Government of Uganda with support from the World Bank and the Private Sector Foundation Uganda, and Equity Bank Uganda is among the participating lenders.

According to Equity Bank’s enterprise development manager, Nelson Mugisha, the extension followed a review of the project’s national reach. The review found that most districts had already been covered, leaving Buvuma and Otuke as the remaining areas not yet served. The bank said the move is intended to help women in Buvuma access the same opportunities available elsewhere under the programme.

The article says eligible women entrepreneurs can apply for loans under the GROW framework, with financing ranging from Shs1 million to Shs100 million depending on the business category and needs. Beyond lending, Equity Bank said it is offering free financial literacy training, help with business registration and formalisation, and support for digitalising business operations. The training covers budgeting, record keeping, debt management and growth planning.

The report also notes that the initiative is designed to address common barriers to credit, including collateral constraints, and that Equity expects the programme to complement other work it is already supporting in the district, including the National Oil Palm Project. More broadly, the development matters because it brings a national women-focused enterprise programme to a previously unreached island community, potentially improving access to finance and formal business services.