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Women entrepreneurs have been asked by financial institutions to digitise their businesses to ease their operations.

Digitalising businesses is said to help women entrepreneurs keep records, track customer purchases, and improve product restocking that targets their market.

The call was made during the 10th Annual Women in Business Leaders conference organised by Uganda Women Entrepreneurs Association Limited (UWEAL) at UMA showgrounds on November 29, 2023.

Stanbic Bank executive director Emma Mugisha told women that digitalisation does not mean the use of computers and technology but is simply record keeping that can improve a business by tracking purchase trends and customer relations.

Rosa Malango (Right) the former United Nations Resident Coordinator with Connie Kekihembo the Chief Executive Officer of the Uganda Women Entrepreneurs Association at the 10th Annual Women in Business Leaders’ Conference in Lugogo on 29th Nov 2023.

“Don’t let the term digitalisation scare you. Just simply have your book where you write what every customer purchases. With time you will see a trend and that will help you run the business better. Keep personal data on clients such that you are well-versed with their purchase trends,” Mugisha said.

According to Mugisha, digitising a business prevents overstocking of merchandise that may not be bought.

She added that women in business should openly engage with their teenage children about business ideas because their youthful insight comes in handy.

“I have a teenager and when I asked her about something one day, she immediately opened Google and we got a solution. So, please talk to your children and get to know them, there is an app for everything and the young people know,” Mugisha added.

However, although UWEAL chief executive officer Connie Kekihembo said over 8,000 women have joined the ‘Isoko’ app that helps women in business, the few women that New Vision Online spoke to had no clue about it.

Betty Nkote, a businesswoman dealing in African wear and jewelry, said she had not heard about the application and how to access or use it.

“No this is the first time I am learning of this app and I also don’t know how the application can help my business,” Betty said.

Rosa Malango the former United Nations Resident Coordinator speaking at the 10th Annual Women in Business Leaders’ Conference in Lugogo on 29th Nov 2023.

Similarly, Esther Namagembe also said she had no idea what the Isoko app is and she, therefore, asked for guidance on using it for her business.

A press statement by UWEAL indicated that 83% of women in business face barriers in digital readiness, inequalities, lack of competitive edge, high business costs, and poor management skills.

Call to formalise businesses

On his part, industry state minister David Bahati said an important first step for digitising any business is registration with the Uganda Registration Services Bureau (URSB) but urged the entrepreneurs to know the benefits of formalising their businesses.

“I understand that we need to formalise our businesses but let us work on incentives where people can benefit from registration and show clearly how people agree with terms and conditions,” Bahati said.

Rosa Malango, the chairperson of the Tumaini African Knowledge Centre, spoke of the need for women entrepreneurs to brand products and indicate that they have been made in Uganda.  

“I saw very good products, some of them organic but didn’t have identification as Ugandan. We are less than a month away from two of the biggest summits and our people are producing things that don’t show they are made in Uganda,” Malango said.

The 10th annual Women in Business leaders’ conference sought to bring together business leaders to address challenges faced by women in business through expert opinions in key areas of access to finance, digitalisation adaptation, business-to-business linkages, formalizing businesses, legal clinics, and knowledge enhancements about opportunities in export markets.

About UWEAL

UWEAL is a national organisation uniting women in business both in the formal and informal sectors and is dedicated to empowering women entrepreneurs in Uganda.