KAMPALA — Equity Bank Uganda has launched the “Tupange Business Ne Equity” initiative to support regional small and medium enterprises (SMEs).
The initiative aims to address SME challenges and provide support in credit, innovation, and market access. The Bank is translating the national budget into actionable opportunities for SMEs through stakeholder engagements in various regions, including Kampala, Jinja, Soroti, Lira, Mbarara, and Luwero.
Equity Bank Managing Director Anthony Kituuka emphasized the Bank’s role in mentoring and training SME business owners in financial management, innovation, and export business strategies. “Besides offering affordable credit solutions for SMEs, we pride ourselves on guiding our customers in financial management, record keeping, and helping those in need of financial advice through our free financial literacy education,” said Kituuka.
He encouraged SMEs to invest in technology and innovation to expand their exports to the East African Community and beyond.
Speaking during the panel discussions in Jinja and Lira, Equity Bank’s Head of Retail Robert Wanok addressed challenges faced by SMEs in the just-ended financial year. “We are engaging SMEs to understand their needs and support their growth.” He added that the Bank would continuously visit SMEs to offer tailored services and support. “Equity Bank remains committed to supporting the SME sector with tailor-made products and services,” said Wanok.
The initiative has so far reached over 600 SME proprietors across the country, offering them advisory services, improving their financial knowledge, and providing networking platforms.
“The ‘Tupange Business Ne Equity’ initiative is timely, reflecting the growing influence of SMEs in the government’s policies, which promotes locally manufactured goods and skills,” said David Opio Okello, former Deputy Governor of Bank of Uganda.
The engagements align with Uganda’s growth strategy for the new financial year, focusing on commercial agriculture, industrialization, market access, and digital transformation.
The campaign is also in line with the Bank’s effort to support critical sectors to fully recover post-COVID-19 crisis, through its Africa Recovery and Resilience Plan.