Equity Bank Empowers Refugees Through Financial Inclusion

As Uganda joins the rest of the world to commemorate World Refugee Day, Equity Bank Uganda is highlighting how access to financial services is transforming the lives of thousands of refugees, empowering them to rebuild with dignity, independence, and hope.

Through its Social Protection Programme, the bank has supported over 130,000 vulnerable households across nine of Uganda’s 13 refugee settlements with direct cash transfers. It has also provided targeted support to nearly 400 refugee-led businesses, injecting close to UGX 1.8 billion into community enterprises over the past two years.

Speaking ahead of the global observance, Derrick Kyambadde, Manager for Social Protection at Equity Bank, said the impact of financial inclusion among refugee communities continues to grow.

“Uganda hosts the largest number of refugees in Africa, and at Equity, we believe that what refugees need is not just help, but opportunity,” Kyambadde said. “Access to financial services gives them the dignity and freedom to rebuild their lives and seize the opportunities around them.”

Among the entrepreneurs supported through Equity Bank’s refugee-focused initiative are 7,182 women and 3,867 men, many of whom now run small businesses that sustain their families and strengthen local economies.

Since 2018, Equity Bank has played a central role in delivering UGX 301.7 billion in humanitarian cash assistance, helping refugee households cover essential needs such as food, healthcare, and education.

This year’s World Refugee Day theme—“Solidarity with Refugees”—is embodied in the Bank’s model of support. Beyond financial aid, the Bank offers financial literacy training to equip beneficiaries with the skills to manage, grow, and sustain their income.

“We train beneficiaries in the fundamentals of earning, spending, saving, borrowing, and investing. This helps them make informed financial decisions and sets them on a path toward long-term self-reliance,” Kyambadde noted.

Equity’s model leverages biometric smart cards and fully-fledged bank accounts, often the first for many recipients, to ensure convenience, security, and transparency in accessing cash transfers. Beneficiaries use their smart cards to withdraw funds or pay for goods and services, fostering a sense of control and normalcy in their daily lives.

“The adoption of digital cash transfers fosters financial inclusion while upholding the dignity of recipients,” Kyambadde added. “It’s about building pathways out of poverty—not just providing temporary relief.”

As Uganda continues to lead in refugee-hosting, initiatives like Equity Bank’s Social Protection Program offer a powerful example of how private sector partnerships can contribute to inclusive humanitarian response and sustainable development.