Equity Bank Uganda has reaffirmed its commitment to promoting financial inclusion by expanding support for Savings and Credit Cooperative Organisations (SACCOs), micro-enterprises, and grassroots entrepreneurs through specialized financing, capacity-building initiatives, and sustainability-focused products.
The bank made the commitment during the Annual General Assembly of Uganda Central Co-operative Financial Services Ltd held at Silver Springs Hotel on Friday.
Addressing delegates, Equity Bank officials highlighted the institution’s journey from a small savings society founded by farmers into a regional banking group, describing the transformation as evidence of the potential of cooperative financial models when supported through strong governance and strategic partnerships.
Olivia Mugaba, the bank’s Head of SMEs, said the institution was founded to serve individuals who had limited access to conventional banking services due to a lack of collateral and financial records.
“We started as a society formed by ordinary farmers who could not access traditional banking because they lacked financial history and collateral,” Mugaba said.
She explained that farmers created a system that enabled members to save, borrow, pay school fees, and invest in agricultural activities through collective support and trust.
“That journey is proof that SACCOs and cooperatives can grow into strong institutions when supported with the right leadership, discipline, and partnerships,” she added.
Mugaba noted that the partnership between Equity Bank and UCCFS is intended to deepen financial inclusion by developing products and services that address the practical challenges faced by SACCO members.
“If a customer walks into a bank and is turned away because they do not meet standard requirements, then we have not served them. We want to understand people’s challenges first so we can create solutions that work for them,” she said.
The bank also pledged continued investment in financial literacy and institutional capacity-building programmes across the country. According to Mugaba, SACCOs requiring governance, leadership, or financial management training can access the support free of charge.
“If your SACCO needs governance training, financial literacy, or leadership support, call us. We will come and train your members at our own cost,” she said.
As part of its sustainability strategy, the bank showcased financing products designed to support renewable energy, waste management, and other environmentally friendly projects. Mugaba said some development partners subsidize part of the financing costs to encourage adoption of green initiatives.
“We provide green financing at reduced interest rates because sustainability matters. In some cases, our partners even pay up to 33 per cent of the loan value on behalf of the customer,” she said.
Meanwhile, Bob Paul Lusembo described SACCOs as critical drivers of economic development within local communities.
“The start of transformation at the grassroots is the SACCO because members know and trust one another. The biggest challenge they face is liquidity, and that is where Equity bank comes in,” Lusembo said.
He explained that the bank provides financing ranging from Shs1 million to Shs100 million for SACCOs under its micro-business segment, depending on their size, growth stage, and borrowing capacity.
Beyond lending, the bank also focuses on strengthening governance systems and building institutional capacity to support long-term sustainability.
“We do not only provide loans. We also strengthen governance structures and train both SACCO leaders and members to ensure sustainability,” he said.
Lusembo added that Equity Bank has deployed financial literacy trainers in all regions of Uganda to support SACCOs and community enterprises at no cost.
The bank further unveiled tailored financing solutions targeting agriculture, renewable energy, distributors, suppliers, and school fees financing.
Under its agribusiness programme, eligible farmers and suppliers with verified contracts can access unsecured short-term financing ranging from Shs10 million to Shs500 million.
“If you are supplying companies such as Nile Breweries Limited or are an accredited distributor for companies such as Pepsi, we can finance you without requiring traditional security,” Lusembo explained.
For expanding enterprises and larger SACCOs, Mugaba said the bank offers SME financing packages ranging from Shs1 million to Shs6 billion.
The officials concluded by reiterating Equity Bank’s commitment to strengthening Uganda’s cooperative movement and encouraged sector leaders to maintain close engagement with the bank to improve service delivery.
“Our partnership with UCCFS is for the long term. We are here to listen, support, and grow together with cooperatives across Uganda,” Mugaba said.