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Women entrepreneurs in northern Uganda set to benefit from low-Interest credit project

27 July 2026, 10:24 am

Women entrepreneurs attending a training and launch of women economic empowerment credit facility in Gulu city on Friday 24 July 2026.

By Brian Oloya

Thousands of women entrepreneurs across Northern Uganda are set to benefit from affordable financing and business training following the launch of the Women Economic Empowerment Credit Facility and Credit Solutions Project in Gulu City.

The initiative, organized by Stanbic Bank Uganda in partnership with the Uganda National Oil Company (UNOC), aims to train, support, and financially empower 10,000 women operating smallholder businesses across the country. The program seeks to improve women’s access to affordable credit while equipping them with essential financial management and business skills.

Speaking during the launch, Gulu City Mayor Julius Labeja commended Stanbic Bank and UNOC for introducing a program that directly addresses the persistent financial challenges faced by female entrepreneurs.

Mayor Labeja urged beneficiaries to make proper use of the funds by investing directly in income-generating activities rather than non-essential expenses. He noted that the initiative would help reduce reliance on exploitative “quick loans,” where many vulnerable borrowers are forced to surrender their National Identity Cards as collateral.

Gulu city mayor Julius Labeja Gunya on the initiative.
Labeja Julius Gunya the Gulu city mayor at the launch of the women econonmic empowerment credi facility in Gulu city on Friday 24 July 2026 at the mayors garden.

Echoing the Mayor’s sentiments, the Resident City Commissioner (RCC) Mr. Onoria for Gulu City emphasized the need for community commitment to ensure the project’s success.

Gulu City RCC Mr. Onoria Charles on the inatiative.
Mr. Onoria Charles the Resident city commissioner of Gulu city at the launch at the mayor’s garden on Friday 24 July 2026 .

Highlighting the operational details of the project, Stanbic Bank’s Regional Manager for Northern Uganda, Isaac Okuma, explained that the program was engineered to help women-owned businesses scale through structured financing and mentorship.

Okuma revealed that the bank has mobilized $4 million (USD) to be disbursed through local women’s groups and Savings and Credit Cooperative Organizations (SACCOs).

Mr. Okuma Isaac the regional manager Stanbic bank for Northern Uganda speaking the function on Friday 24 July 2026 at the mayor’s garden in Gulu city.

Beatrice Aciro, a member of the Waya Kuranga Saving Group in Pongdwongo Cell, described the project as a vital lifeline for small business owners in the region.

Aciro Beatrice an entrepreneur in Gulu city appreciating the inatiative.

Expressing confidence that the program will significantly lift household livelihoods across Northern Uganda, Aciro encouraged her fellow entrepreneurs to embrace the initiative as a safer, more sustainable source of business growth.