Today, Equity Bank Uganda has concluded its nationwide “Tupange Business Ne Equity” campaign with a final engagement in Hoima. This campaign was created to support small and medium enterprises (SMEs) by giving them access to financial guidance, networking opportunities and business knowledge. It began in Kampala and later moved to Mbale, Arua, and Fort Portal before ending in Hoima. At each stop, the campaign brought together entrepreneurs, traders and community leaders to share experiences and find solutions to the challenges businesses face.
The Hoima event brought together a wide range of business owners, local leaders and community stakeholders; all focused on strengthening the local business ecosystem and promoting economic growth. Participants had the chance to discuss practical ideas on how to improve access to finance, manage competition and run businesses more efficiently.
Speaking at the event; Olivia Mugaba- Head of SMEs at Equity Bank Uganda, explained the important role SMEs play in the economy. She said that SMEs contribute almost half of the country’s income and create seven (7) out of every ten (10) jobs. She reminded business owners that they are the people who keep the world moving. At the same time, she warned that 50% SMEs fail within their first three years. According to her, this is not because the businesses lack potential, but because they face barriers such as; lack of financing, limited skills and challenges in the value chain.
According to Mugaba, financing SMEs goes far beyond providing loans. It involves strengthening every link of the value chain; from farmers and suppliers to manufacturers and retailers- so that no weak point disrupts business growth.
She also shared an inspiring success story of a client who started out as a micro-SME with a UGX 20 million loan and has since expanded into a multi-billion-shilling enterprise. “Our greatest pride comes from seeing SMEs grow from micro ventures into multi-corporations,” she said.
Clare Tumwesigye, Head of Marketing and Communications at Equity Bank, speaking on behalf of the Managing Director, Mr. Gift Shoko, reaffirmed that Equity Bank remains the people’s bank; serving individuals, micro-businesses, SMEs and large corporates. She emphasized, “No financing is too big for us. Whether you are just starting, scaling up or fully established, we have solutions tailored to walk with you at every stage of your journey.”
Reflecting on the lessons from COVID-19, Clare highlighted that Equity Bank launched the $6 billion Africa Recovery and Resilience Plan to help businesses bounce back stronger. “This initiative was designed to empower critical sectors such as agriculture, tourism, manufacturing, and MSMEs. When SMEs recover, Africa recovers.”
Tumwesigye further encouraged SMEs to adopt an ecosystem mindset: “Every supplier, transporter, and partner is part of your value chain. If one link breaks; the whole chain is affected. That’s why Equity supports the entire ecosystem; from the smallest supplier to the largest anchor to ensure no business is left behind.”
The campaign also celebrated local SME leaders whose journeys show the impact of the bank’s support by awarding; Mr. John Magara, owner of Hoima Buffulo Hotel and Business Hub Limited- SME Business Influencer Award, Mr. Amator Nyendwoha, Director of St. Peter’s High School- SME Cutomer Loyality Award and Aloysius Ntale of Ntale and Sons Kiboga depot (Beverage distributor)- Best Eco System Customer Award.
Mr. Amator Nyendwoha, Director of St. Peter’s High School, shared how his journey with Equity began in 2013 when other banks turned him away. A committed manager at Equity guided him through opening accounts, managing records, and later accessing his first loan of UGX 15 million. With that start, he was able to expand his school and later diversify into farming. He proudly shared how Equity Bank gave him an unsecured UGX 200 million loan in just two weeks, which helped him grow further. “Equity Bank treated me like a priority, even when other banks ignored me,” he notes, highlighting the bank’s commitment to giving SMEs real opportunities. Equity Bank goes beyond transactions- it guides, advises and funds growth. “This is the bank I can trust,” he concluded.
Mr. John Magara, owner of Hoima Buffulo Hotel and Business Hub Limited, reflected on his early financial struggles; taking on loans and even losing his family home which taught him invaluable lessons about money management. Through the partnership with Equity Bank; he managed to rebuild, transitioning from rice milling to alcohol distillation and eventually expanding into tourism.
He noted that SMEs often go through cycles of setbacks and recovery. Recalling the challenges of the COVID-19 pandemic, he shared that many businesses thought survival was impossible, but with the right banking partner like Equity Bank; his operations stayed afloat- safeguarding over 170 jobs.
Magara further emphasized that support systems such as Equity Bank’s value chain financing are essential for SME growth, adding that “when one link breaks, the entire chain is affected- making it crucial to have partners who walk the journey with you.”
The Hoima engagement marked the end of the “Tupange Business Ne Equity” journey across Uganda. Through this campaign, Equity Bank has supported SMEs not just with financing, but with knowledge, mentorship, and collaboration. By focusing on innovation, resilience and value addition, the bank continues to give entrepreneurs the tools to thrive.
