Janet Museveni Launches Women-based Loan at New Equity Branch in Ntungamo
Equity Bank Uganda on 12th April 2023 started a women-based product dubbed Equi-mama. The product is a transformative credit facility designed to unlock the entrepreneurial potential of women in rural Uganda. Equi-mama credit facility aims to provide women with access to affordable capital, equip women with business skills, offer them mentoring, expose them to business networks, and equip them with the tools they need to succeed in business.
First Lady Janet Kataaha Museveni on 12th April 2023 officially launched the Equity Bank Ntungamo District branch and the Equi-Mama Product. Emphasizing that the Equi-Mama product was specifically designed to meet the needs of small-scale women and youth entrepreneurs, Mrs. Museveni also saluted Equity Bank for working towards the financial inclusion of women and youth, and for staying true to its founding principles.
Equity Managing Director Anthony Kituuka noted that the financial institution has put in place measures to ensure that the product is accessible to women of all backgrounds and income levels. Equi-Mama comes with flexible payment options and no application fees will be charged. According to Kituuka, this is meant to make it easier for women to access the services.
The First Lady Mrs. Janet Museveni revealed that when she met Dr James Mwangi, the group CEO of Equity Bank, in December 2021, she made two requests to him and his team. She was pleased to note that her requests have been honored with the launch of the Equi-Mama Product and the Equity Bank branch in Ntungamo.
“I am grateful to Equity Bank for extending its banking services to Ntungamo District and for considering women and the youth, who have long faced difficulties in obtaining loan facilities. As you know, empowering women and youth in Uganda has been dear to my heart, and this new Equi-Mama product contributes to achieving this goal. Women and the youth play an important role in society; however, they rarely have access to credit facilities,” Mama Janet Museveni said.
“I therefore commend the Board and Management of Equity Bank for this innovative Equi-Mama product. This and other programs that Banks like Equity Bank have, play a complementary role to the government’s efforts to increase financial inclusion as well as improving household incomes.” First Lady Janet Museveni noted.
