As Uganda joins the rest of the world in marking World Refugee Day today, Equity Bank Uganda is shining a light on how access to financial services is helping thousands of refugees rebuild their lives with dignity and independence.
Through its Social Protection Programme, the bank has extended support to refugee-led businesses and facilitated cash transfers to over 130,000 families across nine of the 13 refugee settlements in Uganda.
Speaking to the media ahead of the day, Equity Bank’s Manager for Social Protection, Derrick Kyambadde, revealed that in the last two years alone, the bank has provided close to Shs1.8 billion in support to nearly 400 refugee-led businesses. Among the recipients are 7,182 women and 3,867 men, many of whom run small businesses that support their families and communities.
Equity Bank has played a key role in delivering cash transfers to vulnerable refugee households since 2018. Over the past five years, more than 130,000 households have received assistance totalling Shs301.7 billion, helping them meet essential needs such as food, education, and healthcare.
“As we all know, Uganda hosts the highest number of refugees on the continent. At Equity, we believe they don’t just need help—they need opportunity in the host country they are in,” said Kyambadde. He added, “We believe that access to financial services gives them the dignity and freedom to rebuild their lives and exploit opportunities available within and around the settlements.”
This year’s World Refugee Day theme highlights solidarity and support, and Equity Bank’s efforts demonstrate what that looks like in action.
Through its Social Protection Pillar, Equity Bank seeks to reduce social and economic hardship and alleviate extreme poverty through direct cash transfer programmes for refugees.
Cash transfers have proven to be a cost-effective and efficient way to advance the socio-economic status and self-reliance of the most vulnerable.
“The adoption of cash transfers for the delivery of humanitarian aid fosters financial inclusion and affirms the dignity of recipients as they gain financial independence. Financial inclusion enables beneficiaries to oversee their spending and savings through fully-fledged bank accounts (often their first-ever accounts) and biometric smart cards—a model that enhances convenience, security, accessibility, efficiency, and accountability,” said Kyambadde.
With the Equity Bank cards, beneficiaries can access their cash allocations and use the card to purchase goods and access other essential services.
Under this programme, beneficiaries are also taken through financial literacy training to equip them with the knowledge, skills, and attitudes required for effective financial management—earning, spending, saving, borrowing, and investing.
“Participants are empowered to make informed financial choices and use services that previously seemed beyond their grasp. Equity’s support helps beneficiaries work towards their financial goals, become more bankable, and ultimately transform their lives,” added Kyambadde.
