Rubanda woman’s path to prosperity with dfcu Bank’s GROW Loan

For years, Gillian Kiconco, a dedicated young woman from Rubanda District, dreamed of making a difference in Uganda’s agricultural sector. With a Diploma in Crop Production and a Bachelor’s in Crop Science, she had all the knowledge and passion but faced a harsh reality after graduation: there were no job opportunities. For four long years, she remained unemployed, wondering how to put her skills to use.

In 2017, driven by the desire to secure her future, Gillian took a bold step and opened a farm supply store. She started small, selling fertilizers, herbicides, farm tools, and other essential agricultural products. But like many small business owners, she faced a significant hurdle of lack of sufficient capital.

“At the time, I was a customer of another bank. While they gave me loans, the high interest rates were crippling,” Gillian recalls. “Every month, a huge chunk of my profits went into loan repayments, leaving me with barely enough to grow my business.”

Everything changed in September this year when Gillian heard about the GROW loan on social media and in the newspaper. “When I heard about GROW, I ran straight to dfcu Bank,” she says. “I applied for a loan of UGX 20 million, and it completely changed my business.”

The Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project is a Government of Uganda Project, funded by the World Bank, implemented by the Ministry of Gender, Labour and Social Development and the Private Sector Foundation Uganda across the country.

GROW’s objective is to increase access to financing for women entrepreneurs across Uganda through provision of affordable loan solutions, which rage from UGX 4,000,000/- to UG 200,000,000/-.

With the GROW loan, Gillian experienced a transformation in her business. The lower interest rates meant that more of her profits stayed in her pocket, allowing her to reinvest in the store. She expanded her inventory, ensuring she could meet the increasing demand from farmers in her area. For the first time, she had enough working capital to run her operations smoothly, without the constant stress of juggling finances.

The impact of the loan wasn’t just confined to her business. “One of the biggest milestones for me was being able to make improvements to my house. This wouldn’t have been possible without the increased profits from my business,” she shares with pride.

Gillian’s dream doesn’t stop with her farm supply store. She envisions expanding her business to become a leading supplier of agricultural products in Rubanda District. She also aims to start importing fertilizers and securing large tenders to supply farm inputs across Uganda.

Her journey from an unemployed graduate to a thriving entrepreneur is a testament to the transformative power of financial inclusion. Through initiatives like the GROW loan, dfcu Bank is not just supporting businesses—it’s changing lives and uplifting communities. For Gillian, the future is bright, and she’s confident that her success is only the beginning.