The Vice Chair of the Board of Private Sector Foundation Uganda (PSFU), Sarah Kagingo, has said the foundation is building toward a “near future of non-collateralized patient credit, to catalyse the growth of businesses in Uganda.”
Kagingo was speaking Friday, 12 April, at the AGM of the Association of Ugandan Women in Tourism Trade (AUWOTT) at Hotel Africana in Uganda’s capital, Kampala.
The AGM which saw the women in tourism get new leadership was supported by the GROW Project, a World Bank funded partnership between PSFU and the Government of the Republic of Uganda for women entrepreneurs.
“GROW is aimed at scaling women-owned businesses at all levels, micro, small, medium enterprises, as well as businesses that have grown to the level of seeking credit, which we have capped at 10% for the GROW Project,” she said.
Kagingo acknowledged that whereas Ugandan women were some of the most entrepreneurial around the world, they still faced challenges including access to affordable, patient credit.
“At PSFU, we understand that you need access to patient capital to scale your businesses. The board led by Humphrey Nzeyi is building toward a near future of non-collateralized patient credit to catalyse business growth,” Kagingo said to applause.
She expressed PSFU’s unwavering focus on handholding women in transforming their businesses.
“Count on us. We are happy to handhold you and eager to hear from you on how you would like to scale your individual businesses,” Kagingo said.
She, however, stressed that tourism sustainability should not become a mere buzz word and that tourism businesses must walk the talk.
“Endeavour to be authentic, live what your website says you are. Partners do not need your permission to verify whether you are indeed engaged in sustainability. We will engage you on the environment, social and governance (ESG) expectations that are fast-becoming global standards,” Kagingo revealed.
She congratulated AUWOTT’s new leadership and lauded Sarah Kyerere for the idea to start an association of women in Tourism.
“Now, that you have seamlessly inaugurated a board, and as a proud member of our association, I look forward to furtherance of marketing the Pearl of Africa, our beautiful and luminous country, home to warm and hearty people.”
Jacqueline Kemirembe, the Managing Director of Platinum Tours and Travel, is the new chairperson of AUWOTT while Dorothy Tukamushaba assumed the role of vice-chairperson.
To lend a hand in steering the affairs of the Association, Aisha Nabwanika, the founder and CEO of Ewaffe Cultural Village, assumed the role of Secretary General, while Gill Kyatuhaire took charge as treasurer.
Yogi Birigwa, formely at Uganda Tourism Board is the senior board advisor, while Daphine Nahwera and Damalie Lubega were elected as board members.
In her inaugural address, Kemirembe emphasized the importance of expanding the association’s membership base to foster inclusivity and representation within the industry.
PSFU Grow project hosted the esteemed ladies in tourism to a cocktail as the AGM drew to a close.