Equity Bank forum aids small businesses in Uganda

MBALE, Uganda — Equity Bank Uganda hosted its first regional TUPANGE Business Ne Equity Nationwide Forum on Tuesday, drawing more than 500 small and medium enterprise owners to Mbale. The event, which followed a launch in Kampala, focused on “Financing Integrated Value Chains and SME Growth” and featured speakers who offered insights on how to help businesses thrive.

Saleh Naminya, a retired teacher and managing director of Casa Uganda Safaris & Lodges, shared his journey from the classroom to leading a tourism business. “I started small, but with determination and collaboration, Casa Uganda thrives today,” he said, emphasizing that his business relies on local farmers, furniture makers and transport providers. Naminya highlighted how value chain financing from Equity Bank can reduce risks and build trust, citing a supplier who used timely credit to fulfill a 50-ton coffee order.

Claver Serumaga, executive director of commercial banking at Equity Bank, stated that small and medium-sized businesses are the “engine of Uganda’s economy,” creating seven out of 10 jobs globally. He outlined the bank’s commitment to financial accessibility, including unsecured supplier financing of up to UGX 1.5 billion to 3 billion and digital platforms that streamline payments. Serumaga also addressed past customer service issues, promising to improve service through staff retraining.

The forum’s discussions highlighted Uganda’s 53% small and medium-sized business failure rate, often attributed to limited working capital and market access. Speakers, including Olivia Mugaba, head of SME at Equity Bank, and Natalisile James of the Ministry of Trade and Agriculture, stressed the importance of financial and technical support, leveraging digital tools and formalizing operations through tax compliance. “If you’re not registered, you’re invisible to opportunity,” one speaker noted.

Equity Bank’s solutions, such as invoice financing and mobile-accessible credit lines, were showcased through a local success story of a business that grew from a UGX 20 million to 100 million credit line. Serumaga said the bank “walk[s] the journey with you,” inviting entrepreneurs to collaborate within value chain ecosystems.

The forum is the first of four regional tours planned, with upcoming events scheduled for Arua on Thursday, Fort Portal on Sept. 2 and Hoima on Sept. 9. Equity Bank aims to support over 1,000 small and medium-sized businesses by the end of the year.

“When SMEs thrive, the nation prospers,” Serumaga concluded.