Overview:
Equity Bank, Nation Media Group, and KPMG partner to identify and support Uganda's top mid-sized companies, driving inclusive growth and economic development.
KAMPALA, Uganda — A new survey launched Wednesday aims to empower Uganda’s thriving mid-sized companies, providing a platform for recognition, capacity building and access to vital resources. Equity Bank Uganda, in partnership with Nation Media Group and KPMG, unveiled the 17th edition of the Top 100 Mid-Sized Companies Survey, themed “Driving Inclusive Business Growth- Empowering SMEs across All Sectors for Economic Transformation.”
The initiative underscores Equity Bank’s dedication to supporting Uganda’s small and medium-sized enterprise (SME) ecosystem through tailored financial solutions, business advisory, capacity building and market access.
Claver Serumaga, Equity Bank Uganda’s newly appointed executive director, emphasized the bank’s commitment to fostering sustainable enterprises.
“At Equity Bank, we go beyond providing banking services. We journey with SMEs from ideation to expansion, walking hand-in-hand to nurture growth,” Serumaga said. “Our continued investment in this survey and beyond is a reflection of our belief in the transformative power of entrepreneurship.”
Equity Bank is the exclusive banking partner for the survey for the second consecutive year, committing to a three-year sponsorship. The bank currently serves more than 15,000 SMEs, providing over 500 billion Ugandan shillings (about $133 million) in financing across sectors like agriculture, logistics, construction and manufacturing. These efforts align with its continental Africa Recovery and Resilience Plan, which allocates $65 billion to businesses across Africa.
Olivia Mugaba, head of SME at Equity Bank, highlighted the tangible impact of the bank’s support. “I recall a client who started with a 10 million Ugandan shilling loan and now manages a 2 billion Ugandan shilling portfolio,” Mugaba said. “That’s the kind of impact we live for.”
The 2025 survey seeks to identify and celebrate Uganda’s fastest-growing, most resilient SMEs — those with annual revenues between 360 million Ugandan shillings and 25 billion Ugandan shillings, and at least three years of audited financials. The evaluation involves two detailed assessments: one on financial health and another on governance, digital readiness and innovation. Participation is free, and a team of 50 trained surveyors will immediately begin nationwide research.
Benson Mwesigwa, associate director at KPMG Uganda, outlined the survey’s broader purpose. “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,” Mwesigwa stated.
The launch also introduced Equity Bank’s parallel initiative, “Tupange Business ne Equity,” a series of SME forums scheduled across Uganda in the coming weeks. These forums aim to equip businesses with financial management tools, digital skills and advisory support, further underlining Equity’s holistic approach to SME development.
Susan Nsibirwa, managing director of Nation Media Group, praised the strength of the partnership. “Having Equity Bank as our official banking partner is a perfect fit,” Nsibirwa said. “We believe their contribution will be key in growing the Top 100 Club and the businesses it represents.”
The 2025 Top 100 Survey will run from July to September, culminating in a gala dinner in October to unveil the final rankings. The campaign will also include themed forums on finance, tourism and technology, with key sessions led by Huawei and the Uganda Securities Exchange.
Through this powerful collaboration, Equity Bank, Nation Media Group and KPMG are cultivating the next generation of business leaders driving Uganda’s economic transformation.