Hope Lorna Nakhayenze, the Chief Risk Officer (CRO) at dfcu Bank
dfcu Bank is a pioneer in empowering female-led businesses through its Women in Business (WiB) program, the dfcu Rising Woman initiative, and other tailored financial solutions.
In celebration of International Women’s Day 2025, themed ‘Accelerate Action,’ we sat down with Hope Lorna Nakhayenze, the Chief Risk Officer (CRO) at dfcu Bank, to discuss how women entrepreneurs can effectively mitigate business risks.
With over 17 years of experience in risk management, internal controls, and compliance, Nakhayenze brings valuable insights into the challenges women entrepreneurs face and the strategies they can adopt to ensure financial stability and business growth.
QN: Ms. Nakhayenze, congratulations on your recent appointment as Chief Risk Officer at dfcu Bank. Could you share with us your professional background and what led you to this role?
ANS: Thank you. I have over 17 years of experience in risk management within the banking sector. My journey has been driven by a passion for creating robust risk frameworks that support sustainable growth. Joining dfcu Bank aligns with my commitment to fostering financial inclusion and empowering entrepreneurs, especially women.
QN: Risk management is crucial in banking, especially when supporting SMEs. How does dfcu Bank balance risk while promoting financial inclusion for women entrepreneurs?
ANS: Balancing risk and financial inclusion require a nuanced approach. At dfcu Bank, we conduct thorough assessments to understand the unique challenges faced by women entrepreneurs. By offering tailored financial products, such as the Baraka Loan and Business Growth Loan, we provide flexible financing options that consider individual circumstances. Additionally, our emphasis on financial literacy and mentorship equips these entrepreneurs with the tools to manage risks effectively.
QN: dfcu Bank has a longstanding commitment to women’s economic empowerment, notably through its Women in Business (WiB) program. How does the bank’s risk management strategy align with this commitment?
ANS: Our WiB program has been instrumental in supporting over 80,000 women entrepreneurs across Uganda. By integrating risk management into this program, we ensure that these entrepreneurs are equipped to handle potential challenges. This includes offering training on financial literacy, risk assessment, and business continuity planning, which are essential for sustainable growth.
QN: How does dfcu Bank’s risk management framework ensure that female business owners have access to financial services while mitigating potential business risks?
ANS: Our risk management framework is designed to be inclusive yet robust. We implement risk assessment models that consider the unique financial behaviors of female entrepreneurs, ensuring that they are not excluded due to traditional lending biases.
Additionally, we support business resilience by offering structured repayment plans, credit guarantees, and advisory services that help women navigate economic uncertainties.
QN: What specific risk management strategies does dfcu Bank recommend for women entrepreneurs to build financially resilient businesses?
ANS: Entrepreneurs should explore multiple revenue streams to safeguard their businesses against market fluctuations. We also encourage establishment of key controls such as maintaining proper financial records and working with professional advisors to make informed financial decisions. Finally, leveraging insurance and risk-mitigation financial products can provide a safety net against unforeseen business disruptions.
QN: Looking ahead, what are your strategic priorities as Chief Risk Officer to further support women entrepreneurs at dfcu Bank?
ANS: My strategic priorities include enhancing our risk assessment frameworks to better accommodate the unique profiles of women-led businesses, expanding financial literacy programs to empower more women with essential skills, and fostering partnerships that create new opportunities for women entrepreneurs. By doing so, dfcu aims to create an inclusive financial ecosystem where women can thrive.
