Hoima – Equity Bank has wrapped up the final leg of its transformative “Tupange Business Ne Equity” campaign in Hoima, after successful engagements in Kampala, Mbale, Arua, and Fort Portal.
The campaign has been a rallying point for small and medium-sized enterprises (SMEs) across the country, reinforcing the bank’s commitment to nurturing business growth and resilience.
Speaking at the event, Olivia Mugaba, Head of SMEs at Equity Bank, emphasised the critical role SMEs play in economic development, noting that they contribute nearly 50% of national income and generate seven out of every ten new jobs.
“You are the ones who keep the world moving,” Mugaba told entrepreneurs, while cautioning that over 53% of SMEs collapse within their first three years due to barriers such as limited financing, inadequate skills, and value chain gaps.
She stressed that Equity Bank’s mission goes beyond loans: “Our business is not to sell your property when challenges arise. Our mission is to walk with you—helping you grow from micro to multi-corporate, and build wealth that lasts.”
Mugaba also shared a success story of a client who started with a UGX 20 million loan and grew into a multi-billion-shilling enterprise, illustrating how the bank’s holistic approach to financing can transform businesses.
Representing the Managing Director, Mr. Gift Shoko, Clare Tumwesigye, Head of Marketing and Communications at Equity Bank, reaffirmed the bank’s position as “the people’s bank,” serving individuals, SMEs, and large corporates alike. She highlighted the $6 billion Africa Recovery and Resilience Plan, launched in the wake of COVID-19, to revitalise sectors like agriculture, tourism, manufacturing, and MSMEs.
“When SMEs recover, Africa recovers,” she said, urging entrepreneurs to adopt an ecosystem mindset where every supplier, transporter, and partner strengthens the value chain.
The event featured moving testimonials from Equity Bank clients whose businesses have flourished under its support.
Mr. John Magara, owner of HB Hotel in Hoima, recounted how Equity Bank’s support helped him rebuild after early financial setbacks, expand his ventures into tourism, and sustain over 170 jobs during the COVID-19 crisis.
Similarly, Mr. Amator Nyendwoha, Director of St. Peter’s High School, shared how Equity Bank believed in him when other banks turned him away in 2013. With prompt, unsecured financing—including a UGX 200 million loan processed in just two weeks—he expanded both his school and farming enterprises, describing Equity as “more than a bank; it is a partner.”
As the “Tupange Business Ne Equity” campaign concludes, Equity Bank leaves behind a clear message: SMEs are not alone in their growth journey. With value chain financing, advisory services, and tailored support, the bank is determined to help businesses scale sustainably and build lasting wealth across Uganda.
