Kampala – In line with its mission to foster prosperity, PostBank Uganda has successfully distributed the first tranche of Ushs 6 billion from the GROW loan to 353 women entrepreneurs. This initiative, funded by the World Bank and implemented by the Ministry of Gender, Labour and Social Development in partnership with Private Sector Foundation Uganda (PSFU), aims to promote entrepreneurship among women.
The GROW project supports women’s transition from micro to medium-sized and large enterprises, enhancing financial inclusion and economic growth. PostBank, the sole government bank participating in the project, has efficiently disbursed allocated funds to women entrepreneurs across sectors like agriculture, trade, and commerce.
Ibrahim Kato, PostBank’s Chief Retail Officer, praised the government’s initiative, stating, “This project aligns with the National Development Plan III agenda, increasing household incomes and improving Ugandans’ quality of life.”
PostBank’s Smart Woman Account facilitated the disbursement, providing affordable banking solutions. Kato added, “We welcome projects like GROW, enabling women entrepreneurs to control their financial future. We await the second tranche to continue supporting women-led businesses.”
PostBank has supported various government projects, including the Parish Development Model funds through Wendi Mobile Wallet, COVID-19 household payments, and aid to Bududa landslide victims. These initiatives demonstrate PostBank’s commitment to financial inclusion and prosperity for Ugandans.
