When Master Grain Milling Limited produced its first bag of wheat flour in 2013, it was a small operation running a single production line.
Today, 13 years later, the Jinja-based manufacturer has grown into a fully structured agro-processing business with an annual turnover of more than Shs60 billion in the 2025/2026 financial year.
The company now has expanded production capacity, a nationwide distribution network, a modern transport fleet and a growing workforce. At the heart of this transformation has been access to financing, with Equity Bank Uganda providing critical support at different stages of the company’s growth.
Master Grain Milling’s relationship with the bank began in 2018 after its previous bankers could no longer provide the financing needed to support its expansion.
According to Managing Director Hajji Swammit Itaaga, the company was facing a major financing challenge when Equity Bank stepped in.
“Equity Bank saved us some time back. Our former bankers reached a point where they couldn’t support us financially, but Equity Bank came on board and gave us the exact funds we needed,” Itaaga said.
He said the bank provided sufficient capital on favourable terms and later continued to support the business through trade financing as its operations expanded.
“Equity Bank offered us a great deal with sufficient capital and has consistently supported our growth through reliable trade,” he said.
The financing came at a crucial point in Master Grain Milling’s development. With improved access to capital, the company was able to invest in modern machinery while also introducing systems to move the business from an owner-managed operation into a more structured corporate enterprise.
A major milestone came in 2019 when the company acquired a modern production line from Europe, significantly increasing its capacity.
The investment also triggered changes in the company’s internal operations. Master Grain Milling established dedicated finance, production and sales departments and expanded its distribution network by setting up regional depots across Uganda.
It also replaced its ageing fleet with new commercial trucks and strengthened its sales operations by deploying about 22 sales representatives across the country, each equipped with company vehicles to serve distributors.
Meddy Mbaziira, the company’s Head of Sales and Marketing, said the changes have transformed the way Master Grain Milling operates.
“Initially, the structures weren’t there because it was a one-man-run business, but right now the business has structures,” Mbaziira said.
“We have dedicated finance and production teams, as well as a sales department with around 22 sales representatives across the country. Where we once relied on a fleet of very old trucks, we now operate with brand-new ones, making distribution easy,” she added.
The investments have allowed Master Grain Milling to build an integrated operation capable of producing and distributing its products across Uganda, rather than focusing solely on increasing production.
However, the company says access to working capital remains critical to unlocking its next phase of growth.
Itaaga said additional financing would enable the company to increase production, employ more people and meet rising demand.
“If we continue working closely with Equity Bank to meet these current needs, we will be able to employ even more people,” he said.
The need for working capital remains a major challenge for growing manufacturers and agro-processors. While investment in machinery increases production capacity, businesses also need sufficient funds to purchase raw materials, maintain stock, meet operational costs and fulfil orders while waiting for payments.
For Master Grain Milling, securing additional working capital could therefore determine how quickly it can fully utilise its existing production capacity and translate it into higher output and revenues.
The company’s growth journey was recently assessed during a visit to its Jinja plant by Equity Bank’s executive leadership.
The delegation, led by Equity Bank Board Chair Henry Rugamba and Managing Director Gift Shoko, toured the facility to understand its operations, assess its expansion and explore opportunities for further growth.
The visit highlighted the bank’s approach of working closely with businesses beyond simply providing credit, particularly as they expand production, strengthen supply chains and create employment.
For Master Grain Milling, what started as a financing solution in 2018 has since developed into a long-term partnership supporting the company’s industrial growth.
The company’s immediate ambition is to fully utilise its 540-tonne daily production capacity. Management believes that additional working capital would enable it to increase output, meet growing demand, strengthen its operations and create more jobs.
The Master Grain Milling story also highlights the wider role of financing in Uganda’s manufacturing and agro-processing sectors.
As the country seeks to promote local manufacturing and value addition in agriculture, businesses such as Master Grain Milling demonstrate how access to finance, investment in technology and stronger management structures can help turn small enterprises into larger and more productive businesses.
