The Women in SMEs have called on the government to set up a recovery fund for them to face the
effects of COVID-19 since they have never recovered. The chairperson of Uganda Women
Entrepreneurs Association Limited (UWEAL), Sarah Kitakule said that the money Government had set
aside as a recovery fund for the women in SMEs had not yet reached the targeted people.
The president in the year 2020 directed the ministry of finance and Bank of Uganda to set aside
shs200bn as a stimulus package for small businesses to access loans at a small interest rate. The
borrowers would be subjected to a 10% interest rate on reducing balance and 5% processing fees. That
means for a borrower who wants shs10m, would only pay 50,000 processing fees.
Sarah Kitakule however says that the women have not had access to these finds. Those that have
attempted to get these services have been charged way higher than what is cited. She cited Grace
Bayiga, A shea Processer that was charged about 24% interest rate from commercial banks. With these
interest rates, women entrepreneurs are discouraged and they drain up the capital one would have
used to boost purchasing power.
The women entrepreneurs voiced their concerns at the recently concluded UMA International Trade fair
at a Policy Dialogue on creating an enabling environment for MSMEs in Uganda. This was organized by
the Federation of small and medium-sized enterprises (FSMEs) in partnership with the Embassy of the
Netherlands in Uganda.w.