Equity Bank Uganda, in partnership with Nation Media Group and KPMG, has launched the 17th edition of the Top 100 Mid-Sized Companies Survey—an initiative designed not just to recognise outstanding small and medium enterprises (SMEs), but also to foster the next generation of business leaders propelling Uganda’s economic transformation.
The 2025 survey, themed “Driving Inclusive Business Growth—Empowering SMEs across All Sectors for Economic Transformation,” was officially unveiled today at the Sheraton Hotel in Kampala.
Claver Serumaga, the newly appointed Executive Director at Equity Bank Uganda, reaffirmed the bank’s commitment to SMEs.
“At Equity Bank, we go beyond traditional banking. We walk alongside SMEs—from the spark of an idea to full-scale expansion—nurturing growth every step of the way,” said Serumaga. “Our continued investment in this survey reflects our belief in the transformative power of entrepreneurship.”
The initiative aims to identify, rank and support Uganda’s most resilient SMEs—those with annual revenues ranging from Shs360 million to Shs25 billion and a minimum of three years of audited financials. It includes two comprehensive assessments: one evaluating financial performance, and another examining governance, digital readiness and innovation.
According to Benson Mwesigwa, Associate Director at KPMG Uganda, this year’s edition is about more than just rankings.
“We’re hitting the ground running with a team of over 50 researchers nationwide. Their mission is to directly engage SMEs, gather critical data, and support them through the process. This is a journey of capacity building and connection—to capital, insights and strategic partnerships,” Mwesigwa said.
The campaign will run from July to September, culminating in a gala dinner in October where Uganda’s Top 100 mid-sized companies will be announced. In addition to the rankings, the initiative will feature a series of themed forums focusing on key growth areas such as finance, tourism and technology—supported by partners including Huawei and the Uganda Securities Exchange.
Susan Nsibirwa, Managing Director of Nation Media Group, highlighted the strength and value of the partnership:
“Having Equity Bank as our banking partner brings a unique depth to this programme. Their proven commitment to SMEs across the region makes them an ideal partner. Their involvement will be key to growing the Top 100 Club and the businesses within it.”
This marks the second consecutive year Equity Bank is participating as the survey’s exclusive banking partner, having committed to a three-year sponsorship. Currently, the bank supports over 15,000 SMEs in Uganda, with a loan portfolio exceeding Shs500 billion—spanning sectors such as agriculture, construction, logistics, and manufacturing.
These efforts form part of Equity Group’s larger Africa Recovery and Resilience Plan, which is injecting USD 65 billion into the continent’s real economy to accelerate post-pandemic recovery.
Olivia Mugaba, Head of SME Banking at Equity Bank, shared a compelling story that reflects the bank’s real-world impact:
“Equity Bank is a story of transformation. I remember a client who began with a Shs10 million loan and now manages a Shs2 billion portfolio. That’s the kind of growth we’re enabling—helping SMEs rise, scale, and lead.”
Alongside the survey, Equity Bank also announced the rollout of ‘Tupange Business ne Equity’, a series of SME-focused forums that will be held across Uganda. These sessions are designed to equip entrepreneurs with practical tools in financial management, digital skills, and business advisory support—further demonstrating the bank’s holistic approach to SME empowerment.
The Top 100 Mid-Sized Companies Survey 2025 sets the stage not just for recognition, but for real, inclusive business growth. Participation is free, and the research phase is now underway.
