At the Top 100 SME networking forum in Kampala, Equity Bank Uganda encouraged small and medium-sized enterprises (SMEs) to adopt technology-based banking and financing solutions to stay competitive in today’s transformative business environment.
James Olany, Strategy & Business Manager at Equity Bank Uganda, highlighted the impact of emerging technologies like blockchain, AI, and machine learning on customer expectations and operational strategies. He revealed that 96% of Equity Bank Uganda’s customer transactions are conducted through digital channels, with 50% of customers accessing services via mobile app or online banking.
Olany emphasized the importance of technology adoption for SME growth, citing Equity Bank’s financial education and upskilling programs. Innovative solutions like EazzyBiz, Eazzy Stock, and Equity Online enable SMEs to retail goods online, integrate e-commerce payments, and manage finances efficiently.
The event, themed “Technology,” featured keynote speaker Gerald Oola from Huawei Technologies Uganda, who stressed the crucial role of digital transformation in enhancing SME growth. He discussed digitization, digitalization, data-driven strategies, automation, supply chain management, cloud computing, and cybersecurity.
Equity Bank Uganda’s partnership with KPMG and National Media Group for the Top 100 Mid-Sized Companies Survey and Awards underscores its commitment to supporting SME growth. The bank’s mission to champion financial inclusion through innovative solutions aligns with its role as a key financial partner in the sector.
Other notable initiatives include the Equity Group Innovation Hub, supporting the Africa Recovery and Resilience Plan, and E&M Technology’s software development for financial industry innovations.
By embracing digital banking solutions, SMEs can scale their businesses, expand market reach, and thrive in Uganda’s rapidly evolving economic landscape.
