Equity Bank Uganda, in partnership with UKAID and the Ministry of Energy and Mineral Development, has launched affordable financing to support the adoption of electric cooking (eCooking) technologies across Uganda.
The financing, known as the Modern Energy Cooking Services (MECS) Trust Fund, is intended to accelerate access to clean, efficient and modern cooking solutions for households and businesses, while supporting the growth of electric cooking companies operating in the country.
The Fund was officially launched during a Stakeholder Information Session held at the Four Points by Sheraton Kampala Hotel, bringing together government officials, development partners, private sector actors and electric cooking companies to discuss strategies for scaling clean cooking solutions nationwide.
Speaking at the launch, Catherine Psomgen, Director of Public Sector and Social Investments at Equity Bank Uganda, said the initiative will help businesses operate more efficiently while enabling households to transition to cleaner cooking methods.
“Today we have launched eCooking financing to support Ugandan businesses to operate more efficiently and competitively. While electricity costs remain a concern, affordability should be considered in terms of the total cost of cooking, not electricity alone,” Psomgen said.
She added that through the MECS Trust Fund, Equity Bank Uganda is providing financing to help businesses grow while supporting households to adopt safer, cleaner and more affordable cooking options.
The Minister of State for Energy, Okaasai Opolot, said the high cost and limited availability of electric cooking appliances have slowed adoption in Uganda.
“One of the main challenges to implementing eCooking has been the limited availability of technology and financing to support importation. The launch of this Trust Fund is timely as it addresses these challenges by making funding available to suppliers,” Okaasai said.
Lydia Nandawula, UKAID Climate and Energy Policy Officer, said the financing reflects the United Kingdom’s long-term commitment to supporting Uganda’s clean cooking transition as both a climate and development priority.
“This initiative addresses a key bottleneck, access to short-term working capital, allowing viable eCooking businesses to grow, stock appliances and meet demand in a commercially sustainable way,” Nandawula said.
The MECS Trust Fund is financed by the British High Commission through UKAID under the Foreign, Commonwealth and Development Office (FCDO) and is being implemented by Equity Bank Uganda in partnership with the Ministry of Energy and Mineral Development.
The Fund targets households, SMEs, micro businesses, importers, manufacturers and institutions under government-approved programmes. Eligible borrowers can access financing ranging from UGX 30 million onwards.
As the implementing financial partner, Equity Bank Uganda will provide working capital and bridge financing to eligible electric cooking companies to help expand operations, strengthen supply chains and increase access to modern cooking appliances nationwide.
The initiative supports Uganda’s National eCooking Strategy and aims to reduce reliance on traditional fuels such as charcoal and firewood, contributing to improved public health, environmental protection and reduced carbon emissions.
