Kampala minister salutes Equity as bank wraps up Tupange SMEs initiative in Luweero

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Minister of State for Kampala Capital City and Metropolitan Affairs Joseph Kyofa Kabuye has hailed Equity Bank for supplementing government’s drive to boost wealth creation in the Luwero region.

Kyofa Kabuye acknowledged government’s efforts in creating a conducive environment for entrepreneurship, that Equity Bank is using to offer opportunities to support SMEs.

He was speaking in Luwero Wednesday, where Equity Bank Uganda wrapped up its initiative to support regional Small and Medium Enterprises (SMEs) – Tupange Business Ne Equity – with a final session in Luwero.

“The government has created an enabling environment for us to work, do business, attend school, and attain wealth. This is how Equity Bank also seized the opportunity to enter the Ugandan market,” he said.

He encouraged the SME customers at Wednesday’s  Tupange session, to utilize the financial facilities that Equity Bank has in place so as to create the wealth they dream of, further emphasizing the value of embracing government programs.

Additionally, he emphasized the need to leverage government initiatives such as the Parish Development Model to as a way of fostering wealth growth.

A panel discussion was held on opportunities in the region. The panelists included Luwero veteran Al hajji Abdul Nadduli, Daniel Sajjabi, Director of Destiny High School, Joseph Sebudde – Director, Rapha primary school and Robert Wanok – Head Retail banking Equity Bank.

Sajjabi stressed during the panel discussion that SMEs should prioritize setting clear goals and focus on achieving them, rather than focusing on needs or possessions.

Robert Wanok, the Equity Head Of Retail Banking said Luweero region has a lot of arable land that can be used for agriculture, and SMEs should with the support of the bank.

Following the national budget reading for the financial year 2024/2025, Equity Bank Uganda 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 and Mbarara before concluding in  Luwero.

Tupange Business Ne Equity engagement has so far reached over 600 SME proprietors across the country, offering them advisory services, improving their financial knowledge, and providing networking platforms. The meetings also aim to scale up customer engagements with the retail SME segment at the regional level.

The initiative follows the successful ‘Abakyala Ku Ntikko’ regional meetings, where Equity Bank interacted with women entrepreneurs across Uganda. The engagements align with Uganda’s growth strategy for the new financial year, which focuses on the full monetisation of Uganda’s economy through commercial agriculture, industrialization, market access and digital transformation.

“Besides offering affordable credit solutions for SMEs, we pride ourselves on guiding our customers in financial management, record keeping and helping those in need of financial advice through our free financial literacy education,” said Equity Bank Managing Director Anthony Kituuka.

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