The state minister for gender in charge of youth affairs Balam Barugahara has expressed concern over complaints from women being asked to pay kick-backs to banks before accessing the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) fund .
“Some banks tell women who go to access money that they have to leave some money behind for the minister. We can’t ask for money that is meant to empower women become rich. This money is available on a 10% interest rate and it’s payable in a period of two years,” he said
He added that with the shs 800 billion GROW cash from World Bank, women can borrow money from shs 4 million to shs 200 million depending on their capacity.
“This money is strictly for women, not men. Just walk to the bank like post bank and tell them that you have your business and you want money. They should not give you a lot of conditions if they do come to RCC’S office,” he advised
Brian Kaboyo, the Hoima City Mayor challenged women to invest the money into profitable ventures.
“Don’t get the money and go look for men and drink but borrow then invest in a tested business. Remember it’s a revolving fund which you must pay back after two years ,” he cautioned
Badru Mugabi, the city RCC said they have summoned all banks where the money is to give them reports of the people who have so far got the funds to trace how they are improving their businesses.
“Normally there is always a tendency by some banks claiming to have given out money. What I did last week was to I write to all banks that have this money to give me a list and as the office of the RCC, we will move and look for these people to verify if they truly received the money. We also want to see the impact of the funds
