Equity Bank wrapped up the final engagement of its “Tupange Business Ne Equity” campaign in Hoima, marking the culmination of a nationwide series of workshops that have already visited Kampala, Mbale, Arua, and Fort Portal.
Olivia Mugaba, Head of SMEs at Equity Bank, emphasized the critical role of small and medium enterprises (SMEs) in national growth. “SMEs are the backbone of economies worldwide, contributing nearly 50% of national income and generating seven out of every ten new jobs. You are the ones who keep the world moving,” she said.
However, she cautioned that 53% of SMEs collapse within their first three years, not due to lack of potential but because of barriers such as limited financing, inadequate skills, and gaps in the value chain. “Equity Bank is committed to ensuring that businesses do not become part of that statistic,” Mugaba added.
She explained that financing SMEs goes beyond simply providing loans. “It involves strengthening every link in the value chain—from farmers and suppliers to manufacturers and retailers—so that no weak point disrupts growth.” Highlighting the bank’s impact, Mugaba shared a success story of a client who began as a micro SME with a Shs20 million loan and has since grown into a multi-billion-shilling enterprise. “Our greatest pride comes from seeing SMEs grow from micro ventures into multi-corporations,” she said.
Encouraging SMEs to aim higher, Mugaba reiterated: “Our business is not to sell your property when challenges arise. Our mission is to walk with you—helping you grow from micro to multi-corporate, and build wealth that lasts.”
Clare Tumwesigye, Head of Marketing and Communications at Equity Bank, speaking on behalf of Managing Director Mr. Gift Shoko, reaffirmed that the bank serves individuals, micro-businesses, SMEs, and large corporates. “No financing is too big for us. Whether you are just starting, scaling up, or fully established, we have solutions tailored to walk with you at every stage of your journey,” she said.
Reflecting on lessons from the COVID-19 pandemic, Tumwesigye highlighted Equity Bank’s $6 billion Africa Recovery and Resilience Plan, designed to empower critical sectors including agriculture, tourism, manufacturing, and MSMEs. “When SMEs recover, Africa recovers,” she noted, urging entrepreneurs to adopt an ecosystem mindset, where every supplier, transporter, and partner is part of the value chain.
The campaign featured inspiring client testimonials. Mr. John Magara, owner of HB Hotel in Hoima, shared how Equity Bank helped him recover from early financial struggles, including losing his family home. With the bank’s support, he transitioned from rice milling to alcohol distillation and eventually expanded into tourism, safeguarding over 170 jobs during the COVID-19 pandemic. “Support systems like Equity Bank’s value chain financing are essential for SME growth. When one link breaks, the entire chain is affected—having partners who walk with you is crucial,” he said.
Similarly, Amator Nyendwoha, Director of St. Peter’s High School, recounted how Equity Bank supported his school from its early days in 2013, at a time when other banks had turned him away. With guidance on account management and access to loans, Nyendwoha’s school expanded significantly. His first Shs15 million loan was promptly repaid, paving the way for bigger opportunities. A recent unsecured loan of Shs200 million, processed in just two weeks, enabled further expansion of his school and farming enterprises. “Equity doesn’t just talk; they grow with you. This is the bank I can trust,” he said.
The “Tupange Business Ne Equity” campaign underscores Equity Bank’s commitment to empowering SMEs, ensuring that businesses across Uganda have access not only to financing but to guidance, mentorship, and a full ecosystem of support to scale, thrive, and create lasting wealth.
