“Fostering a culture of Social Entrepreneurship for business growth and sustainability in Uganda’
Inspiration is taking action, having moved into Capital Solutions since 2019, I am excited everyday with what we do which is largely to inspire other social entrepreneurs to change the world. Our focus is on 3 areas: capacity building and mentorship through the accelerator program, networking platform for social entrepreneurs and improving access to finance for micro and small social enterprises mainly women-led and women-focused. These have always been the challenges for small and medium enterprises.
I have always loved supporting the women agenda and that drove my close linkages with the women leading organisations in Africa and globally. When Capital Solutions conducted a research on the:” Status of social entrepreneurship in Uganda” what stood out was that more women and youth were participating in the social entrepreneurship sector which is a great deal.
In October 2020, we launched a social business accelerator program and since then we have supported over 55 social enterprises to grow and scale their businesses. We have had very great interactions with the women led and women focused businesses in Uganda. We are very proud of this journey and on 3rd Sept 2021 we shall be graduating the 55 social enterprises that we have been working with and I must say all these are extremely unique change making organisations and also making great impacting the society by providing practical solutions to complex challenges, creating employment for youth and women, building partnerships and climate change.
One of the participants of the programme mentioned that “Capital Solutions picked me at a verge of a grave for my business, I would recommend this programme for every woman social entrepreneur as this is a wholesome programme that has kicked life into my business” Kabagaya Estela Founder/CEO Mama Children Village.
Another participant noted “A company needs to be set up with a social goal to create impact in the community but also to make money as well” Dr. Josephine Kasolo Managing Director Jolika Ltd.
‘‘To me we all know that the elephant in the room is unemployment that is being brought about by lack of required skill sets in the market and lack of creativity among the youth when they have just gotten out of school. Women are not spared they are equally left out and marginalized” Dr Joyce Tamale
If you are an impact investor, Philanthropist, development partner, corporation, individual looking for social enterprises in East Africa to investing or partner with. Do not hesitate just reach out to www.capitalsolutionsug.com for advise, we work with over 200 change making businesses in the social entrepreneurship forum.
Beginning August 26th 2021 until 1st November 2021 i.e 60 days, we shall celebrate daily a social entrepreneur who has impacted their society in Uganda and Africa at large in a sustainable manner. We envisage this to be a Launchpad for bigger programming and partnership aiming at improving employment opportunities for the women and young people in Uganda and also grow businesses that would eventually improve the economy.
The social entrepreneurship program is solution that has given a different outlook to business to think about sustainability in whatever entrepreneurs do. With 55 Social Businesses who are 80% women and are now investment ready we are extremely happy about the journey to fostering a culture of Social Entrepreneurship for business growth and sustainability in Uganda.
These Social enterprises have played a significant role in the socio-economic growth and development of Uganda through creating employment especially to the vulnerable populations i.e. the Youth and women. We acknowledge that in Uganda, this category of entrepreneurs contributes close to 90% of private sector production and play a crucial role in income generation, especially for the poor and provides employment to over 2.5 million people.
According to the Global Entrepreneurship Monitor (GEM, 2011), there are four women social entrepreneurs for every five men. It is also stated that women are often those left on the sidelines of the formal economy. They face social, economic, political and legal contexts that include a gender bias and stereotyped beliefs that determine their chances on the market. Women’s social enterprises often face issues related to finance. For example, estimates indicate that in Africa, women receive less than 10% of all credit going to small farmers and only 1% of the total credit for the agricultural sector. Yet they also face obstacles in access to the market, technology, and knowledge and expertise, and in availability of entrepreneurial skills. These gendered standards not only influence the level of women’s entrepreneurial engagement, but also their possibility to benefit from economic activities as customers or as a workforce.
We continue to push the gender agenda through social entrepreneurship as a catalyst to economic development.
The writer is the Founder and CEO Capital Solutions Ltd
Dr Joyce N Tamale (FCCA)