By Guest Writer
As Uganda’s industrial sector continues to expand, access to responsive and flexible financial solutions is becoming increasingly important for businesses seeking to scale operations and compete across the region.
For Modern Group of Companies, one of Uganda’s diversified business conglomerates, finding the right financial partner is therefore not simply about access to credit. It is about working with a bank that understands the pace of business, responds quickly to emerging needs and has the capacity to support growth over the long term.
This is at the heart of the emerging partnership between Equity Bank Uganda and Modern Group of Companies.
For Modern Group, one of the factors that influenced the decision to work with Equity Bank Uganda was the timely responsiveness by its team, particularly in areas where the company has business interests.
The importance of this local presence is particularly significant for a business operating across multiple sectors and markets, where financial decisions often require timely engagement and practical solutions.
“What stands out most is the responsiveness of Equity’s ground team. They are proactive, approachable and quick to address matters as they arise,” said Jagdish Srivastava, the Chief Executive Officer of Modern Group.
Mr Srivastava said the experience reinforced the importance of having a banking partner that combines the strength and resources of a major financial institution with an understanding of the realities facing businesses on the ground.
For a diversified group such as Modern Group, this combination is critical as it seeks to strengthen its operations and position itself for further growth in Uganda and the wider East African market.
“As a former international banker myself, I understand the distinct strategic advantages of working with one of the country’s leading financial institutions,” he said. Adding, “Partnering with a major bank like Equity provides the scale, stability and institutional support needed to unlock long-term business growth.”
“Equity Bank’s team approaches business with a highly positive, solution-oriented mindset, and as our internal authorization processes are finalized, we look forward to deepening this partnership across multiple financing areas,” he said.
The relationship between the two institutions therefore represents more than the financing facility currently in place. It points to the potential of a broader partnership in which financial solutions are aligned with Modern Group’s evolving business requirements.
“Modern Group represents a cornerstone relationship for our bank,” said Ronald Nakhasanga, the Regional Manager for the Eastern Region from Equity Bank. Given their expansive footprint across diverse sectors from manufacturing and building materials to agro-processing, the potential for shared growth is immense. Our commitment goes beyond traditional corporate banking; we are strategically positioned to support their full ecosystem, driving value across their entire operational footprint.”
For businesses operating in Uganda’s increasingly competitive industrial environment, the ability to access capital is important, but so too is the quality of the relationship with the financial institution providing it. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
