By William Kayongo Small and medium-sized enterprises (SMEs) are the backbone of Uganda’s economy, contributing significantly to job creation, innovation, and economic growth. According to the Uganda Investment Authority, SMEs account for about 90% of the private sector, employ more than 2.5 million people, and produce over 80% of Uganda’s manufacturing output. Despite their pivotal role, SMEs often face a range of challenges, including limited access to finance, lack of adequate infrastructure, and minimal access to markets. Financing, in particular, remains a critical hurdle, with many SMEs struggling to secure the funds they need to grow, expand, or even sustain…
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dfcu Bank has launched the GROW Loan initiative in Eastern Uganda to support women entrepreneurs in the region with financial support and business training to scale their businesses. The event, held in Jinja, marks a significant step in dfcu Bank’s commitment to fostering economic growth and supporting women in business through access to affordable credit, tailored financial solutions, and capacity building. The GROW Loan is designed specifically for women in business who are looking to expand and strengthen their enterprises. The initiative addresses the unique challenges faced by women entrepreneurs, offering them not just financial assistance but also the mentorship…
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To overcome the current transformative or disruptive business environment, SMEs have been encouraged to take up more technology-based banking and financing solutions from Equity Bank Uganda. These remarks were made by Mr. James Olany the Strategy & Business Manager at Equity Bank Uganda at a Top 100 SME networking forum held at the Sheraton Kampala where Technology was the main theme for the event. “As a result of emerging technologies such as blockchain technology, cryptocurrencies, artificial intelligence and machine learning, these advancements have not only shaped the operational strategies but also set new standards of how customers are to be…
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dfcu Bank, a cornerstone of Uganda’s financial landscape with a 60-year legacy rooted in development finance, has launched its latest business lending campaign aimed at empowering small and medium enterprises (SMEs) across the country. The initiative is a clear demonstration of dfcu Bank’s unwavering commitment to transforming lives, businesses, and communities through tailored financial solutions that cater to the unique needs of various business sectors. Speaking about the campaign, Annette Kiconco – dfcu’s Chief Retail Banking Officer said,; the business lending campaign is a testament to the bank’s commitment to providing small and medium enterprises with the financial tools they…
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Equity Bank Uganda Limited in partnership with KPMG and Daily Monitor has officially launched the 2024 Uganda Top 100 SME survey campaign under the theme: ‘Empowering SMEs for a Monetized Uganda: Catalysing Growth through Innovation, Sustainability, and Market Access.’ The campaign seeks to identify Uganda’s fastest-growing and medium-sized companies that demonstrate business excellence and showcase some of the country’s most successful and powerful entrepreneurship stories. The campaign targets SMEs with a turnover of UGX 360 million to UGX 25 billion engaging them in a 3-month survey which will culminate in a gala dinner in December. Equity Bank’s participation as the…
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I am delighted to be able to address you today on behalf of the EU, at the first EAVCA conference to be held in Uganda, and share insights on the EU actions in terms of private sector support and capital mobilisation for the private sector. I would like to start with a question: Why is the European Union, representing TeamEurope, the largest development cooperation actor in the world, in this room, at a gathering of Private Capital players? The answer is simple: we are here because we need your help and want to partner with you in order to achieve…
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Following the national budget reading for the financial year 2024/2025, Equity Bank Uganda has launched an initiative to support regional small and medium enterprises (SMEs). Dubbed Tupange Business Ne Equity, the initiative aims to address SME challenges and provide support in crucial areas such as credit, innovation, and market access. The Bank’s efforts to translate the complex national budget into actionable opportunities for SMEs is a significant part of this initiative. The Bank began its stakeholder engagement on June 19th in Kampala and subsequent sessions have been held in Jinja, Soroti, Lira with future sessions planned for Mbarara and Luwero….
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DHL, a global leader in logistics in collaboration with Absa Bank Uganda under the 2024 ‘Growing Beyond Borders’ entrepreneurial training programme have trained over 200 SME’s in Jinja to build their capacity to access export markets. The overall objective of the program is to empower Small and Medium Enterprises (SMEs) in Uganda by enhancing their understanding of the economic potential of international trade and its benefits. The program is being rolled out countrywide across 7 cities including Jinja, Masaka, Mbale, Mbarara, Lira, Arua and Kampala. The training workshops are free of charge, and explore importing and exporting in new markets,…
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Ugandans hoping to live under their own roof and end renting have a new opportunity to do so with 100% financing from Stanbic Bank, courtesy of a new lending campaign dubbed, “Oli Sorted” While speaking to the media, Israel Arinaitwe, the Head of Personal Banking at Stanbic Bank said, the campaign is a timely response to address the needs of customers who require financing different aspirations in life. “We are simply responding to what we hear and see from the feedback of our customers—they are tired of renting, they want to get more money, but they also want longer repayment…
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DHL, a global leader in the logistics industry has announced its collaboration with Absa Bank Uganda for the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme. The purpose of the programme is to empower Small and Medium Enterprises (SMEs) in Uganda by enhancing their understanding of the economic potential of international trade and its benefits. “SMEs tend to focus predominantly on domestic markets, neglecting lucrative opportunities for international trade. This is often due to a lack of information, and limited abilities to invest in market research, logistics, compliance, and marketing. These challenges limit SME growth and therefore this programme will enable…
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