Adaptation takes centre stage as 2025 Top 100 Mid-Sized Companies Survey launches

July 9, 2025 in Business, Companies, Trade & Industry by Editor

Making his first public appearance since his assumption of the executive director role at Equity Bank Uganda, Claver Serumaga opened the launch of the 2025 Top 100 Mid-Sized Companies Survey with a pointed message to Uganda’s SMEs: retool or risk being left behind.

“Small and medium-sized businesses are the backbone of Uganda’s economy,” he told a packed breakfast at the Sheraton Hotel Kampala. “They employ over three million Ugandans and account for more than 90 percent of the private sector. The Top 100 Survey is not just a recognition platform — it is an opportunity to benchmark, reflect, and retool.”

Now in its 17th iteration, this years’ Survey, jointly backed by Equity Bank Uganda, KPMG, and Nation Media Group (NMG), is designed to spotlight Uganda’s most resilient and fastest-growing mid-sized companies — those with annual turnovers between UGX 360 million and UGX 25 billion. The theme — “Driving Inclusive Business Growth – Empowering SMEs Across All Sectors for Economic Transformation” — reflects the call for agility and innovation in a shifting economic landscape.

Susan Nsibirwa, Managing Director of Nation Media Group Uganda, applauded the strength of the collaboration:
“Having Equity Bank as our official banking partner is a perfect fit. They have a solid reputation for serving SMEs, not just in Uganda but across the region. We believe their contribution will be key in growing the Top 100 Club and the businesses it represents.”

For the second year running, Equity Bank returns as exclusive banking partner, having now committed to a three-year sponsorship of the survey. The lender currently supports over 15,000 SMEs in Uganda, with more than UGX 500 billion in financing across sectors such as agriculture, logistics, construction, and manufacturing. These efforts are part of its broader Africa Recovery and Resilience Plan, which is channeling USD 65 billion into real sector enterprises across the continent.

Serumaga also announced the launch of “Tupange Business Ne Equity”, a series of SME-focused forums accompanying the survey. “These engagements will not be theoretical,” he said. “We want every entrepreneur to leave with actionable insights to take their business to the next level.”

Over the next three months, the campaign will feature regional forums on finance, tourism, and technology, with lead sessions from Huawei and the Uganda Securities Exchange, culminating in an awards gala in October where the final rankings will be unveiled.

Beyond financial performance, the 2025 survey introduces a dual assessment model — one measuring core metrics like revenue growth, profitability, and liquidity, and another evaluating governance, digital readiness, and innovation. Participation is free and open to qualifying businesses with at least three years of audited financials. Nationwide research begins immediately, spearheaded by a team of 50 trained surveyors.

Benson Mwesigwa, Associate Director at KPMG Uganda, emphasized the purpose behind the survey, “Now that the survey is officially launched, our next step is to hit the ground running-deploying a team of over 50 researchers across the country to engage SMEs directly, collect valuable data and support them through this process. This is more than just a ranking; it’s a journey of discovery, capacity building, and connecting businesses to the partners, capital, and insights they need to grow.”

Olivia Mugaba, Head of SME at Equity Bank, underscored the transformative impact of the bank’s engagement with the sector:
“The story of Equity Bank is truly a story of transformation — of changing lives and enabling growth from the grassroots up. I recall a client who started with a UGX 10 million loan and now manages a UGX 2 billion portfolio. That’s the kind of impact we live for. This partnership defines who we are — a bank that empowers SMEs to thrive, scale, and become industry leaders.”

Since its inception, the Top 100 platform has evolved into more than just a ranking — it’s now a launchpad for visibility, capacity building, and business-to-business growth. For Equity Bank, it is also a statement of purpose — anchoring its long-term strategy of inclusive finance with real outcomes for real businesses.

As the 2025 campaign gets underway, the unambiguous message from the launch was that in an era where volatility and disruption are the new normal, adaptability is no longer just a competitive edge but  a survival imperative.