Teso women entrepreneurs empowered through financial literacy training

SOROTI CITY, July 2, 2025 –– Dfcu Bank has conducted a financial literacy training session for women entrepreneurs in the Teso sub-region, equipping them with essential skills to manage and grow their businesses.

The training, held at Golden Ark Hotel in Soroti City, attracted over 100 women entrepreneurs from across the Teso Subregion region districts of Amuria, Kapelebyong, Serere, Soroti City, Soroti, Ngora, Katakwi, and Kumi among others.

Stephen Otim, a Business Advisor at Dfcu Bank, encouraged the women to embrace financial discipline by saving regularly and budgeting effectively. He emphasised that budgeting helps individuals control their spending and make informed financial decisions.

“You need to stick to your budgets and saving plans to ensure financial stability, reduce debts, and invest in your businesses for long-term growth,” Otim advised.

He also highlighted the importance of proper record-keeping in business, noting that poor financial tracking often undermines growth. Otim urged the women to focus on investments that yield returns, and to avoid impulsive spending.

Otim further addressed misconceptions surrounding the bank’s “Grow” loan product, clarifying that miscommunication had previously hindered women from accessing the facility. He reassured participants that the product is tailored to support women in business.

Jonathan Wamusankwire, Dfcu Bank Manager for Soroti Branch, reiterated the bank’s commitment to empowering women entrepreneurs by offering affordable loans and free training in bookkeeping, finance, and business management.

“Training women in financial management strengthens their economic resilience. Through such initiatives, we aim to equip them with the tools needed for sustainable growth,” he said.

Wamusankwire also spoke about the Dfcu Rising Woman initiative, which recognises and rewards successful women entrepreneurs. He mentioned an ongoing competition under the programme, offering awards to women with outstanding business proposals.

So far, over 50 women in the Teso sub-region have benefited from Dfcu Bank’s loan facilities.

Isaac Okiror, a Business Banker at the Soroti branch, observed that many businesses in Teso struggle due to financial illiteracy. He urged the women to keep their money safely in the bank rather than at home.

“The challenge is that many people in our communities still store money in their homes. Banking is safer and supports better financial planning,” Okiror noted.

Participants praised the training for its practical benefits. Joselyne Adiochi, a businesswoman from Oderia Ward I in Soroti City West Division, said the session helped her improve her customer care skills and refine her business strategy.

“I acknowledge that customer care was previously lacking in my egg business, but now I feel equipped to offer better services,” she said.

Angela Ariokot, another entrepreneur from Soroti City, shared that she had struggled with tracking her business expenses but now feels confident in managing her finances.

“This training has shown me how to set up a proper accounting system. It will help me make better decisions and increase my profits,” Ariokot said.

Dfcu Bank continues to roll out similar training sessions across Uganda as part of its commitment to supporting women-led businesses and enhancing financial inclusion.

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