The Bold Women Cohort by Mkazipreneur, an accelerator of the NSSF Hi-Innovator concluded yesterday with nine (9) women entrepreneurs announced winners and each will receive an investment of $20,000 (approx. UGX74.4 million) to further grow and improve their businesses.
The cohort gathered eleven women-owned businesses in agriculture, fashion & beauty, waste management, and digital economy who presented their businesses before an investment committee panel comprised of industry experts who evaluated each business based on the understanding of the customer problem and service/product offering, the business model & its sustainability, market potential, and scalability & impact.
Out of the 11, only 9 were selected to receive investment. The prize goes beyond financial gain, the selected winners will also have access to debt capital of up to UGX200 million from KCB Bank Uganda, exposed to investors through match-making events, deal rooms, and exchange program opportunities with like-minded women entrepreneurs from other countries.
One of the participants, Flavia Rita Babirye said that the program has helped her refine her business model and understand how to navigate the challenges her business faces as she moves towards scale.
“Mkazipreneur has enabled me to understand more than just the financial elements of the program but fully understand my target market and unit economics which will push my business to the next level,” said Babirye. “When I pitched in the Women Accelerator, I was not selected because I had no product focus while being all over the place and so it seemed that I was spreading my business thin without making revenue.”
Immy Nakyeyune, Team Lead of Mkazipreneur congratulated the Bold Women Cohort entrepreneurs on their journey, emphasizing their embodiment of what it means to be bold women entrepreneurs, resilient, determined, and unafraid to challenge the status quo. She further expressed gratitude to NSSF Uganda, Mastercard Foundation, Outbox Uganda, GIZ African Union, Prudential Uganda, and KCB Bank Uganda who supported community-related activities.
The NSSF Hi-Innovator Bold Women Cohort by Mkazipreneur implemented in partnership with GIZ African Union Aware Project is designed for women entrepreneurs in Uganda, seeking to expand their business development knowledge, increase their impact measurement and financial management skills, be investment-ready, and make lifelong connections.
Together with GIZ African Union, Mkazipreneur reached over 400 women business owners through regional outreach sessions that empowered the women entrepreneurs with the knowledge to grow their business operations by sharing tips and hacks on how to build a sustainable business model and measure business impact.
Sarah Reinhard, Advisor for Gender and Communication at GIZ African Union, expressed her enthusiasm for collaborating with Mkazipreneur, highlighting the strong alignment between the organization’s values and the key focus areas of GIZ African Union.
“We are thrilled to partner with Mkazipreneur, as they are deeply committed to the financial empowerment of women,” said Reinhard. “Mkazipreneur exemplifies the financing and empowerment of women in the country, making them a valuable partner in our shared mission.”
See also: Maxima Nsimenta, Livara founder and CEO makes Africa’s Business Heroes top 20 finalists
