How a bank’s belief helped Falkan Investments thrive in Uganda’s tough SME terrain

August 6, 2025 in Business, Companies, Finance by Editor

Running a business in Uganda is not for the faint-hearted. Small and medium enterprises (SMEs) face an uphill battle navigating delayed financing, insecure cash handling, and limited access to modern financial infrastructure. For Nuhu Kanyike, Managing Director of Falkan Investments Ltd, these challenges once threatened the very future of his business—until he found a partner that understood not just his numbers, but his vision.

Back in 2017, Kanyike was operating as a distributor for Unilever, battling delays in renewing a crucial bank guarantee with his then financial provider. “I had waited for weeks without progress,” he recalls. That delay, in a fast-moving distribution business, was costly. Relief came in the form of a recommendation—from a fellow distributor—to try Equity Bank.

“It was like night and day,” he says. “Within a week of approaching Equity Bank, I had my guarantee sorted. They were efficient, responsive, and professional.”

That guarantee facility opened up access to Unilever stock on flexible 17-day payment terms, easing Falkan’s cash flow burden and laying the foundation for future growth. But the real transformation came from Equity Bank’s broader approach to SME banking—an approach grounded in listening, adapting, and innovating alongside entrepreneurs.

Kanyike’s biggest operational headache at the time was cash—large volumes of it, moving daily between field teams and the warehouse. “It was a security nightmare. We’d spend hours counting money at the end of every trip,” he says. “It delayed operations and made us a target.”

Equity Bank’s extensive agency banking network—with over 9,310 Equi-Duuka agents countrywide—offered an elegant solution. His field teams could now deposit daily collections with local agents, and the money would reflect instantly in Falkan’s bank account. “That one change revolutionized our logistics. Trucks no longer return with cash onboard. Everything is secure, immediate, and trackable.”

This logistical breakthrough has unlocked new opportunities. Falkan has since expanded into remote locations like Ishaka and Karenga—areas previously avoided due to the risks and inefficiencies of transporting cash over long distances. “With Equity agents practically everywhere, no place is off-limits anymore,” he notes.

And it doesn’t stop at cash management. The bank has also offered Falkan flexible working capital loans to seize seasonal opportunities. “When we need to stock up or push to meet targets, Equity gives us credit we can repay within the month. That agility is rare in traditional banking,” Kanyike says.

What makes this relationship stand out, he insists, is not just the products, but the mindset. “Equity doesn’t treat us like liabilities—they treat us like partners. They understand that SMEs are the backbone of the economy, and they build systems that support how we really operate.”

Kanyike’s story is a vivid reminder that in Uganda’s challenging business environment, the right financial partner can be the difference between stagnation and growth. For Falkan Investments, banking with Equity has not just solved problems—it has enabled possibilities.

“In this economy, survival isn’t enough,” Kanyike says. “You need a bank that believes in your potential. That’s what I found in Equity.”