Empowering Mbale’s Entrepreneurs: TUPANGE Business Ne Equity Bank Ignites Growth at First Regional Forum

MBALE, UGANDA – August 19, 2025 – The vibrant city of Mbale buzzed with ambition as the TUPANGE Business Ne Equity Nationwide Forum, hosted by Equity Bank Uganda, made its first regional stop on Tuesday, August 19, following a triumphant launch in Kampala the previous week.

Under the theme “Financing Integrated Value Chains and SME Growth,” the event gathered over 500 small and medium enterprise (SME) owners, dreamers, and innovators at a dynamic forum designed to unlock their potential. The air was electric with stories of resilience, collaboration, and transformation, as speakers like Mr. Saleh Naminya, Managing Director of Casa Uganda Safaris & Lodges, and Mr. Claver Serumaga, Executive Director of Commercial Banking at Equity Bank Uganda, shared insights that left the audience inspired.

Saleh Naminya, a retired teacher turned tourism entrepreneur, captivated attendees with his journey from the classroom to leading a premier safari and lodging business. “I started small, but with determination and collaboration, Casa Uganda thrives today,” he shared, his voice brimming with passion. He painted a vivid picture of a connected business ecosystem, where his lodges rely on local farmers for fresh coffee, furniture makers for cozy interiors, and transport providers for seamless guest experiences. “No business stands alone,” Saleh emphasized, highlighting how value chain financing from Equity Bank reduces risks and builds trust. He recounted a supplier meeting a 50-ton coffee order with timely credit, illustrating how accessible financing turns opportunities into reality.

Claver Serumaga, welcoming attendees from across the Eastern region, underscored Equity Bank’s mission to transform lives through sustainable prosperity. “SMEs are the engine of Uganda’s economy, creating seven out of ten jobs globally,” he said, echoing the sentiment that empowering SMEs empowers the nation. He outlined Equity’s commitment to accessible financial services, including unsecured supplier financing of up to UGX 1.5-3 billion and digital platforms like Equity Online, which streamlines payments and integrates ERP systems for real-time efficiency. Serumaga also addressed past customer concerns, promising improved service through staff retraining and urging attendees to reject bribery for a respectful banking experience.

The forum delivered eight transformative lessons, drawn from the collective wisdom of speakers, including Ms. Olivia Mugaba, Head of SME at Equity Bank, Mr. Odoki Richard, a lecturer at Uganda Martyrs University, and Mr. Natalisile James from the Ministry of Trade and Agriculture. They emphasized scaling businesses with tailored financial and technical support, leveraging digital tools like mobile banking to serve international clients, and embracing tax compliance to unlock government incentives. “If you’re not registered, you’re invisible to opportunity,” one speaker noted, urging SMEs to formalize operations.

The discussion highlighted the stark reality of Uganda’s 53% SME failure rate, often due to limited working capital and market access. Equity Bank’s innovative solutions, such as invoice financing and mobile-accessible credit lines, were showcased through a local success story: a business that grew from a 20 million to a 100 million shilling credit line by partnering with anchor clients like Coca-Cola. “We don’t just finance businesses; we walk the journey with you,” Serumaga affirmed, inviting attendees to join value chain ecosystems and collaborate for growth.

Saleh’s call for ecosystem collaboration resonated deeply. “My lodges need quality produce, reliable transport, and social media marketing,” he said, gesturing to fellow entrepreneurs in agriculture and media. He stressed the importance of international market access, supported by Equity’s Trade and Investment Tours, which enable SMEs to attend global trade fairs. The panel also advocated for a shift to relationship-based lending, with patient financing that aligns with business cycles, and digital tools to streamline operations in a fast-paced market.

As the event concluded, Mbale’s entrepreneurs left with a renewed sense of possibility. The TUPANGE Business Ne Equity Forum, the first of four regional tours, set a powerful tone for what’s to come in Arua on August 21, Fort Portal on September 2, and Hoima on September 9. With Equity Bank’s commitment to supporting over 1,000 SMEs by year-end, the event marked a pivotal moment in Uganda’s journey toward economic transformation. “When SMEs thrive, the nation prospers,” Serumaga declared, and in Mbale, that vision felt closer than ever.