Equity Bank, in partnership with the Mastercard Foundation, is transforming the entrepreneurial landscape in rural Uganda by equipping young people with essential financial literacy skills and access to capital.
This initiative is part of the Young Africa Works Strategy, which aims to empower at least 4.3 million young Ugandans by 2030, with a focus on women, refugees, and persons with disabilities, groups often marginalized from mainstream economic opportunities.
The program targets youth-led micro, small, and medium enterprises (MSMEs), offering a path toward self-reliance and community-driven development. One of the many success stories is that of a young female entrepreneur from the Chitwe Youth Farmers Group, who in 2022 struggled to manage her small hair products business.
She admitted to never tracking her sales or expenses and would often use stock for personal needs without accounting for it. After participating in the financial literacy workshops, she learned how to record income and expenses, manage inventory, and separate business funds from personal use.
Today, her business is more profitable and thriving, and she can now easily afford to offer children decent education and nutritional meals. In Fort Portal, another youth shared how budgeting and record-keeping, learned through the training, helped him manage his loan and grow his agribusiness. “Without this, I couldn’t have managed my loan or expanded my venture,” she said.
A key strength of the program is its group lending model, which provides accessible financing without requiring collateral, crucial for youth and marginalized entrepreneurs lacking formal assets. Loans typically range between Shs 2 million and Shs 5 million, allowing small business owners to scale their operations.
The young woman from Chitwe used a Shs 5 million group loan to expand her salon and diversify into poultry and goat rearing. Her group has since received additional funding, supporting ventures such as digital literacy training, crafts production, and livestock farming, creating jobs and enhancing economic resilience.
In Nakivale refugee settlement, the No Empire Women Empowerment Association invested their Shs 5 million loan in computers and sewing machines, launching programs in digital skills and tailoring.
A group leader noted: “Community members pay for the training, which creates jobs for us. It helps women become self-reliant and reduces dependency.”
The ripple effect of financial empowerment is best illustrated by Misha Dan, a community leader from Isingiro.
With a Shs 600,000 loan, she expanded her hair-braiding business, started poultry farming, and purchased a hair dryer and hens.
“I’m proud to share my ideas,” she said, adding that she now mentors other women in her group.
Despite notable successes, many community members are calling for more support. Youth groups have requested refresher training sessions and an increase in loan limits, noting that Shs 5 million is often insufficient for larger, more ambitious enterprises.
“If you increase loans, we can do more,” emphasized a group leader from Rhino Camp, underlining the growing demand for scalable support.