Powering Uganda’s Future: How dfcu Bank is Redefining Women Entrepreneurship: an Exclusive Interview with the Chief Retail Banking Officer at dfcu Bank.

For decades, dfcu Bank has been at the forefront of economic transformation in Uganda. It has played a pivotal role in empowering women entrepreneurs, breaking financial barriers, and enabling thousands of women to build sustainable businesses. At the heart of this mission is the dfcu Women in Business (WiB) program, a trailblazing initiative that has equipped female entrepreneurs with the funding, skills, and networks they need to thrive.

As the world marks Women’s Month, we sit down with Annette Kiconco, the Chief Retail Banking Officer, at dfcu Bank to discuss how the institution is changing the face of women-led enterprises in Uganda and what the future holds for female entrepreneurs in the country.

Q: dfcu Bank has a long-standing legacy of supporting women entrepreneurs. What inspired the creation of the Women in Business (WiB) program?

At dfcu Bank, we believe that when women succeed, communities and economies thrive. The Women in Business (WiB) program was born out of a recognition that women entrepreneurs face unique financial, structural, and societal challenges that often limit their ability to scale their businesses.

Q: Access to finance is often cited as the biggest barrier for women entrepreneurs. How is dfcu Bank addressing this challenge?

Women entrepreneurs need more than just capital—they need the right kind of financing. That’s why we have designed specialized financial products tailored to their needs, such as being one of the participating financial institutions for GROW Funding, EIB Funding, and other financing solutions. These offer subsidized interest rates that reduces the cost of borrowing.

Q: Financial support alone isn’t enough. How does dfcu Bank help women entrepreneurs build skills and networks?

Funding without the right knowledge, mentorship, and connections can only take a business so far. That’s why our dfcu Women in Business program goes beyond banking by providing financial literacy training, mentorship programs, business accelerator initiatives, and networking opportunities.

Q: The banking industry is rapidly evolving. How is dfcu leveraging technology to make banking more accessible for women?

Digital transformation is at the core of our strategy. We have digital banking solutions like dfcu Quick Code; a USSD mobile banking product, dfcu Quick App, and an extensive agent banking network to make banking seamless and accessible for women entrepreneurs.

Q: Looking at the bigger picture, what are the biggest challenges women entrepreneurs still face, and how can they be overcome?

While women entrepreneurs in Uganda are bold and innovative, they still face challenges such as limited access to credit, financial literacy gaps, and market access barriers. Addressing these challenges requires industry-wide collaboration and targeted support.

Q: Finally, what advice would you give to young women looking to start or grow their businesses?

Take the first step, keep learning, and keep growing. I would also advise them to Leverage dfcu Bank’s financial solutions, connect with mentors during our networking events and prioritize lifelong learning with our financial literacy and business growth sessions. dfcu Bank remains steadfast in its commitment to empowering businesswomen by providing the financial support, resources, and opportunities they need to thrive and drive Uganda’s economic growth.

Q: Where can women entrepreneurs get more information or access support from dfcu Bank?

They can visit any of our 54 branches nationwide, find more information on our website (https://dfcugroup.com) , or call our toll-free line 0800 222000. Our customers in Kampala can visit the dfcu Women in Business Advisory Centre at our Head Offices, for specialised support.

We also encourage women to follow our social media platforms for updates on training sessions, funding opportunities, and networking events.