Equity Bank Uganda has promised to deepen its support for SACCOs, micro businesses, and local entrepreneurs with custom loans, free financial training, and green financing options.
Speaking Friday at the Uganda Central Co-operative Financial Services Ltd Annual General Assembly at Silver Springs Hotel, Bugolobi, bank officials said their focus remains on financial inclusion. They pointed to the bank’s own roots as a small savings group for farmers who couldn’t access traditional banking.
Olivia Mugaba, Equity Bank’s Head of SMEs, told delegates how the bank began. “We started as a Society formed by ordinary farmers who could not access traditional banking because they lacked financial history and collateral,” Mugaba said.
She said those farmers built a system based on trust where members could save, borrow, pay school fees, and invest in farming.
“That journey is proof that SACCOs and cooperatives can grow into strong institutions when supported with the right leadership, discipline, and partnerships,” Mugaba added.
Mugaba said the partnership with UCCFS aims to boost financial inclusion by creating products that match the real challenges SACCO members face.
“If a customer walks into a bank and is turned away because they do not meet standard requirements, then we have not served them. We want to understand people’s challenges first so we can create solutions that work for them,” she said.
Mugaba announced that Equity has set aside funds to run free financial literacy and capacity-building programs for SACCOs countrywide.
“If your SACCO needs governance training, financial literacy, or leadership support, call us. We will come and train your members at our own cost,” she emphasized.
The bank also highlighted its green financing for renewable energy, waste management, and eco-friendly projects. These loans come with lower interest rates.
“We provide green financing at reduced interest rates because sustainability matters. In some cases, our partners even pay up to 33 percent of the loan value on behalf of the customer,” Mugaba said.
Bob Paul Lusembo, Equity Bank’s Segment Head of Micro Business, called SACCOs the foundation of grassroots economic change.
“The start of transformation at the grassroots is the SACCO because members know and trust one another. The biggest challenge they face is liquidity, and that is where Equity Bank comes in,” Lusembo said.
He said the bank finances SACCOs with loans from Shs1 million to Shs100 million under its micro segment, depending on the SACCO’s size and capacity.
“We do not only provide loans. We also strengthen governance structures and train both SACCO leaders and members to ensure sustainability,” he said.
Lusembo added that Equity has financial literacy trainers in every region to support SACCOs at no cost.
The bank also outlined specialized financing for agriculture, green energy, distributors, suppliers, and school fees.
Under its agribusiness program, Equity offers unsecured short-term loans between Shs 10 million and Shs500 million to farmers and suppliers with verified produce contracts.
“If you are supplying companies like Nile Breweries or are an accredited distributor for companies such as Pepsi, we can finance you without requiring traditional security,” Lusembo explained.
For larger businesses and growing SACCOs, the bank provides SME financing from Shs1 million up to Shs 6 billion, Mugaba said.
Bank officials closed by reaffirming their long-term commitment to cooperatives and urged SACCO leaders to share feedback.
“Our partnership with UCCFS is for the long term. We are here to listen, support, and grow together with cooperatives across Uganda,” Mugaba said.
