Resilience will take you places

For the past five years, dfcu Bank in partnership with Daily Monitor and Uganda Investment Authority (UIA) have run a programme dubbed Rising Woman, which is aimed at recognising, celebrating, and promoting a culture of mentorship among women in business in Uganda.

In 2018, Lynette Akol participated in the Rising Woman proposal writing competition and emerged the overall winner. She shares her experience then and the current status of her business.

Out of the desire to increase a longer shelf life for fruits, Lynette Akol started Krystal Ice Limited. Her vision was to provide market for fruits of small holder farmers by using them as raw material for frozen fruit ice pops.

The businesswoman understood that the linkages along the agricultural value chain would be instrumental for the growth of her company, but also play a role in cementing Uganda’s vision of Buy Uganda, Build Uganda (BUBU).

Akol is the managing director of Krystal Ice Limited, a food processing company. She is an entrepreneur and a mother. Krystal Ice produces ice pops, which are made from fruits, sourced from small holder farmers.

What was your experience in the Rising Woman competition?

What The programme was rigorous and transparent. Being the pioneer winner was humbling, educational and it gave my business the boost and brand visibility it needed.

What was your key highlight?

The night when I was announced as the overall winner. It was a thrilling event with high profile guests. That recognition, receiving an award and a cash prize was a reaffirmation of the great strides my business had made.

Looking back to when you started, how did Rising Woman change you?

Before I became part the Rising Woman programme, I was not sure I was taking the right direction. So the opportunity to test my business acumen and determination came at the right time.  It was also a learning and insightful journey. The programme empowered me to become more efficient and effective in the way I manage the business. Now, I have more confidence in what I do, thanks to the training we received in Nairobi, Kenya. Through interacting with the other businesswomen in Nairobi built my confidence in the way I was doing business. After listening to their stories, I was sure, I too, could reach the summit of entrepreneurial success.

If you were to go back in time, what would you have done differently?

I do not think I would change anything. The whole process was transparent and well organised. I also believe that the different partners did well to have women involved at each step of the competition. Representation matters because there are unique challenges women face in entrepreneurship that can best be understood by other women.

What progress have you registered as a business and as an individual?

It has been and still is a journey. It has enabled me to develop growth strategies for what I believe is a strong brand; giving me more ground to succeed. The competition also helped me understand my business better by asking myself the right questions.

What opportunities has the Rising Woman competition exposed you to?

The exposure and visibility created by dfcu Bank, Daily Monitor and Uganda Investment Authority helped me position my business better. Customers read my story and have since gained confidence in my products. My job is to deliver a quality product consistently. I am a recipient of the GroWe Award and my business received a business development service from Feed the Future, who helped us design marketing and distribution strategies.

What would you tell a woman entrepreneur who is still undecided about joining this competition?

Believe in yourself and your dreams because no one will do that for you. It is important to leverage your social networks, be resilient and have passion for what you are doing because without passion, it iseasy to throw in the towel.

Would you care to share any tips one can use to win? 

Submit your business proposals now. Everyone is a winner, in the long run.

Where do you see your business heading?

It has been tough, many businesses have been affected by Covid-19, but now we have embarked on the journey of recovery.

I see my products available and accessible in supermarkets across the country, East Africa and beyond. I want to have a strong, socially responible and internationally recognised brand.

How to join

Monitor Publications Limited’s (MPL) flagship brand Daily Monitor, in partnership with dfcu Women in Business Program and Uganda Investment Authority-UIA are running the fifth season of the Rising Woman.

The campaign aims at recognising celebrating, and promoting a culture of mentorship among women in business in Uganda.

An all-expenses paid study trip to Nairobi for the top 10 winners and cash prizes of up to Shs30m are up for grabs for the top three winners.

Women entrepreneurs are encouraged to send in their project proposals to: [email protected] , submit them at any dfcu Bank branch, Daily Monitor offices countrywide and UIA offices or district commercial officers in the respective districts.