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By Mulengera Reporters
Equity Bank Uganda has unveiled an expanded financing programme aimed at accelerating the growth of Savings and Credit Cooperative Organizations (SACCOs) and small businesses, with lending facilities of up to Shs6 billion for SMEs and unsecured agricultural financing for farmers and suppliers.
Speaking during the Uganda Central Co-operative Financial Services Ltd (UCCFS) Annual General Assembly at Silver Springs Hotel in Bugolobi on Friday, bank officials said the initiative is designed to address liquidity constraints facing SACCOs while strengthening financial inclusion and enterprise development across the country.
Equity Bank’s Segment Head of Micro Business, Bob Paul Lusembo, said SACCOs remain central to grassroots economic transformation because they are built on trust and community networks.
“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 to SACCOs ranging from Shs1 million to Shs100 million under its micro-business segment, depending on the institution’s stage of growth and borrowing capacity.
Beyond lending, Lusembo said the bank is investing in governance and capacity building to ensure long-term sustainability of cooperative institutions.
“We do not only provide loans. We also strengthen governance structures and train both SACCO leaders and members to ensure sustainability,” he said, adding that Equity has financial literacy trainers stationed across all regions to support SACCOs at no cost.
The bank also announced specialised financing products targeting agriculture, green energy, distributors, suppliers and school fees support.
Under its agribusiness financing programme, Equity offers unsecured short-term loans ranging from Shs10 million to Shs500 million to farmers and suppliers with verified produce contracts.
“If you are supplying companies like Nile Breweries or are an accredited distributor for companies such as Pepsi, we can finance you without requiring traditional security,” Lusembo said.
For larger enterprises and expanding SACCOs, Equity Bank’s Head of SMEs, Olivia Mugaba, said the lender provides SME financing from as low as Shs1 million up to Shs6 billion.
Mugaba said the bank’s approach to supporting cooperatives is informed by its own history, having evolved from a savings society established by farmers who lacked access to conventional banking services.
“We started as a society formed by ordinary farmers who could not access traditional banking because they lacked financial history and collateral,” she said.
She noted that smallholder farmers created a financial system based on mutual trust, enabling members to save, borrow, pay school fees and invest in productive activities.
“That journey is proof that SACCOs and cooperatives can grow into strong institutions when supported with the right leadership, discipline and partnerships,” Mugaba added.
According to Mugaba, Equity’s partnership with UCCFS is intended to deepen financial inclusion by developing products and services tailored to the needs of SACCO members and underserved communities.
“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 has also set aside resources for financial literacy and leadership training programmes for SACCOs nationwide.
“If your SACCO needs governance training, financial literacy or leadership support, call us. We will come and train your members at our own cost,” Mugaba said.
Equity further highlighted its sustainability agenda through green financing products supporting renewable energy, waste management and environmentally friendly projects. Mugaba noted that such facilities are offered at reduced interest rates, with some development partners subsidizing up to 33 percent of the loan value.
The officials reaffirmed the bank’s commitment to working with cooperatives as long-term partners in driving inclusive economic growth and encouraged SACCO leaders to continue engaging the institution on ways to improve financial services.
“Our partnership with UCCFS is for the long term. We are here to listen, support and grow together with cooperatives across Uganda,” Mugaba said. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
