Equity Bank wraps up nationwide SME campaign in Hoima

September 7, 2025 in Business, Companies, Finance, Financial Services, Trade & Industry by Editor

Equity Bank Uganda has wrapped up its nationwide “Tupange Business Ne Equity” campaign with a final engagement in Hoima, after traversing Kampala, Mbale, Arua, and Fort Portal.

The campaign, which has run for several weeks, was designed to empower small and medium enterprises (SMEs) with financial literacy, networking opportunities, and practical business skills. Each stop brought together entrepreneurs, traders, and local leaders to share experiences and explore solutions to the persistent challenges businesses face.

At the Hoima forum, participants engaged in discussions on access to finance, managing competition, and operational efficiency. Speaking at the event, Olivia Mugaba, Equity Bank’s Head of SMEs, underscored the role of SMEs in Uganda’s economy, noting that they contribute nearly half of national income and generate seven out of every ten jobs.

“SMEs are the people who keep the world moving,” Mugaba said. “But 50pc fail within their first three years, not because they lack potential, but because of barriers such as limited financing, inadequate skills, and weak points in the value chain.”

Mugaba emphasized that SME financing goes beyond lending: “It is about strengthening every link in the chain – from farmers and suppliers to manufacturers and retailers – so no weak point disrupts growth.” She shared the success story of a former micro-SME client who grew from a UGX 20 million loan into a multi-billion-shilling enterprise, reflecting the transformative potential of targeted support.

Representing Managing Director Gift Shoko, Equity Bank’s Head of Marketing and Communications, Clare Tumwesigye, reaffirmed the bank’s positioning as “the people’s bank.” She stressed that Equity’s financial solutions serve everyone – from startups to large corporates.

“No financing is too big for us. Whether you are just starting, scaling up, or fully established, we walk with you at every stage of your journey,” she said.

Tumwesigye also reflected on post-pandemic recovery, highlighting Equity Bank’s USD 6 billion Africa Recovery and Resilience Plan, which supports agriculture, tourism, manufacturing, and MSMEs. “When SMEs recover, Africa recovers,” she remarked.

During the Hoima event, the bank recognized outstanding SME clients:

• John Magara, owner of Hoima Buffalo Hotel and Business Hub, received the SME Business Influencer Award.
• Amator Nyendwoha, Director of St. Peter’s High School, was honored with the SME Customer Loyalty Award.
• Aloysius Ntale, of Ntale and Sons Kiboga depot, won the Best Ecosystem Customer Award.

Nyendwoha recounted how Equity Bank supported his growth journey when other banks declined his applications. From his first UGX 15 million loan in 2013, he has since expanded into education and farming, with the bank later extending an unsecured UGX 200 million facility. “Equity Bank treated me like a priority, even when others ignored me,” he said.

Magara, meanwhile, shared how Equity Bank helped him recover from setbacks that once cost him his family home, enabling him to rebuild and diversify into tourism while safeguarding over 170 jobs during the COVID-19 downturn.

With the Hoima engagement, Tupange Business Ne Equity concludes its national journey. Equity Bank says the initiative has gone beyond financing to provide mentorship, collaboration, and innovation tools for entrepreneurs. By nurturing resilience and value addition, the bank aims to strengthen Uganda’s business ecosystem for long-term growth.