In 2020, Stanbic Uganda became the first private sector listed company in Uganda to sign the UN Women’s Economic Empowerment Principles (WEPs) at the Uganda Securities Exchange. This milestone marked not only a commitment to gender equality but also a transformational journey—one that has since yielded significant strides in addressing gender inequalities, elevating women in business, and strengthening communities.
Why Sign the WEPs
At the heart of our decision to sign the WEPs was a clear recognition: advancing gender equality is not just a moral imperative, but also a strategic business advantage. The private sector increasingly understands that incorporating gender equality throughout business operations enhances talent acquisition, drives higher productivity, attracts more customers, and promotes long-term sustainability.
As a signatory, Stanbic Uganda committed to:
- Promoting gender equality throughout our workforce.
- Introducing gender equality standards and supporting gender-themed investment products.
- Accelerating the ascent of women to corporate board and senior leadership positions.
- Guiding market participants through training, mentoring, and education on gender diversity and its positive impact on business performance.
Implementing these principles has allowed us to create greater opportunities for women, not only within our organisation but also across the private sector.
Key Initiatives Driving Change
1. Stanbic for Her
Stanbic for Her is our special offering designed to break down critical barriers to affordable credit and provide essential tools to grow women’s businesses in Uganda. Key achievements include:
- Extensive Reach: By December 2024, we had empowered over 28,000 female customers.
- Financial Support: We extended more than 12,000 loans worth UGX 173 billion, with subsidised rates to ensure the loans remain affordable and accessible.
- Capacity Building: Through our Stanbic Business Incubator, we offer free financial literacy and capacity-building programs. These training sessions equip women-owned businesses with the competitive edge needed in today’s market.
2. Ignite Women’s Leadership Programme
Our Ignite Programme focuses on developing and empowering women within our organisation. Since its inception, the programme has:
- Positively impacted over 400 women across the organisation.
- Contributed to a workforce where 52% are women and 250 hold managerial positions.
This initiative not only fosters leadership but also ensures that women have a voice in strategic decision-making.
3. CSI Initiatives – Women in Technology & Maternal Health
CSI – Women in Technology: In partnership with Women in Technology Uganda, this program imparts vital tech skills to vulnerable women, helping them become self-employed or more competitive in the labour market. Over 168 women have benefited from these skills, opening new avenues for economic independence.
CSI – Maternal Health: Collaborating with the Ministry of Health, Stanbic Bank championed the Corporate Society for Safe Motherhood. Last year, this initiative raised over UGX 800 million, investing in hospital equipment and distributing over 100,000 Mama Kits, making a significant impact on maternal health and safety.
Success Stories & Lessons Learned
The journey to empower Ugandan women has not been without challenges. Many female entrepreneurs face steep gaps in financial literacy and business skills, making them vulnerable to exploitation. Our focus on free education and capacity-building under Stanbic for Her has been instrumental in addressing these challenges at the root.
Empowering women has produced tangible benefits:
- Economic Growth: Studies suggest that reducing the gender pay gap and increasing women’s workforce participation can substantially boost GDP. Empowered women invest their income in securing their families’ needs and fueling local economies.
- Sustainable Business Performance: Companies with diverse leadership often see improved organisational performance across all metrics.
- Community Impact: When women thrive, communities prosper—improved education, better nutrition, and overall enhanced family well-being are among the positive outcomes.
Looking Forward: Our Aspirations
Our journey with the WEPs is far from over. We are committed to scaling our women’s proposition—Stanbic for Her—to reach women at the last mile and continue dismantling the barriers they face. Future plans include:
- Expanding Financial Inclusion: Through deeper partnerships with like-minded organisations, we aim to extend affordable credit and financial services to even more women.
- Enhancing Training & Mentorship: Building on the success of Ignite and our capacity-building programs, we plan to roll out more initiatives that support women’s leadership and entrepreneurial skills.
- Driving Wider Industry Impact: Our efforts will continue to influence the private sector, demonstrating that gender equality is not only the right thing to do but also essential for sustainable business growth.
Final Thoughts
At Stanbic Uganda, our commitment to gender equality and women’s empowerment is integral to our business strategy. By signing the WEPs and implementing robust initiatives like Stanbic for Her, Ignite, and our CSI programmes, we are not only changing lives but also setting a standard for the private sector.
The progress we have made so far fuels our aspiration for an even more inclusive future—one where every woman has the opportunity to succeed and contribute to Uganda’s economic growth.