PostBank Uganda has announced the successful disbursement of Shs6 billion in the first tranche of the GROW loans, a program aimed at supporting women entrepreneurs across the country.
The $217 million (Shs805 billion) initiative, titled Generating Growth Opportunities and Productivity for Women Enterprises (GROW), is funded by the World Bank and implemented by the Ministry of Gender, Labour and Social Development in partnership with Private Sector Foundation Uganda (PSFU).
As the only government bank involved in the GROW project, PostBank reported that 353 women entrepreneurs benefited from the first phase of the loans.
Ibrahim Kato, PostBank Uganda’s Chief Retail Officer, expressed gratitude to the government for spearheading such an initiative that promotes financial inclusion and supports women in engaging in socio-economic activities aligned with the National Development Plan III (NDP III).
“We have disbursed Shs6 billion through the PostBank Smart Woman Account, which we believe will significantly contribute to growing women’s businesses and promoting sustained economic development,” Kato stated.
The GROW Loan product, exclusive to women-led businesses, offers affordable banking solutions through PostBank accounts.
PostBank also highlighted its past involvement in implementing government initiatives such as the Parish Development Model and COVID-19 relief funds, further supporting its mission to drive financial inclusion and prosperity for all Ugandans.
PostBank is now awaiting the second tranche of funds to continue its support for women-led enterprises.
