Women entrepreneurs struggle with finance, markets, and taxation hurdles

Business
Women entrepreneurs struggle with finance, markets, and taxation hurdles
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At the Source of the Nile Women in Agri Business Expo and Investment Summit, a notable side event to the Non-Aligned Movement and G77+China summits, women entrepreneurs voiced concerns over significant barriers hindering their business growth.

Lack of access to finance, limited market reach, and high taxation emerged as the primary obstacles, echoing a common sentiment among women striving to expand their businesses and tap into overseas markets.

In a symphony of concerns, participants highlighted the hurdles they face in scaling up their businesses.

The resounding issues, symbolized by pops at the expo, included taxation, market access, and lack of financial support.

Dr. Maxime Huinato, UN Regional Director for East and Southern Africa, elaborated on the challenges, stating,

"Finance, markets, and taxation are critical areas where women encounter obstacles in expanding their businesses and venturing into international markets."

Paulina Chiwangu, UN Women Country Representative, further emphasized the struggles women face, shedding light on the absence of machinery hindering production scalability.

Many women are still reliant on manual production, impacting both quantity and quality of goods.

Despite the obstacles, Ambassador Rosa Malango, the Presidential Advisor on Investment, commended the resilience of women entrepreneurs.

She highlighted their ability to turn business projects into bankable ideas, navigating challenges with determination.

Ambassador Malango expressed,

"The challenges are formidable, but I commend the resilience of these women who transform business projects into bankable ideas, showcasing incredible determination."

In response to the voiced challenges, Minister of State for Fisheries Hellen Adoa and Minister of Gender Betty Amongi pledged to address key issues affecting women entrepreneurs.

The ministers specifically committed to tackling taxation barriers and enhancing access to finance to facilitate the scaling up of women's businesses.

Hellen Adoa State Minister for Fisheries, assured,

"We acknowledge the issues raised, and steps will be taken to address taxation challenges and improve access to finance, empowering women entrepreneurs to scale up their businesses."

Betty Amongi Minister of Gender, echoed the commitment, stating,

"Addressing the challenges of taxation and enhancing financial access is crucial. We are dedicated to fostering an environment where women can flourish in their entrepreneurial endeavors."

As the Source of the Nile Expo unfolds, the commitment of both women entrepreneurs and government officials remains pivotal in paving the way for a more supportive and conducive business environment for women across various sectors.

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