By Mulengera Reporters
As Ugandan manufacturers look beyond the domestic market, the ability to move money across borders quickly and efficiently is emerging as a critical driver of regional expansion, with businesses seeking financial solutions that can keep pace with the movement of goods.
For Mbale-based manufacturer, importer and exporter UKI Uganda Limited, delays in cross-border payments have become a growing challenge as the company expands its operations across East and Central Africa, particularly in the Democratic Republic of Congo (DRC).
The company is now leveraging Equity Bank’s regional network to simplify payments, improve liquidity and strengthen its distribution network, highlighting how financial connectivity is becoming increasingly important to Ugandan businesses pursuing opportunities beyond the local market.
Through Equity Bank’s interconnected presence in Uganda, Kenya and the DRC, UKI is able to reduce its reliance on third-party payment agents and multiple financial institutions, shortening settlement times and reducing transaction costs.
Equity Bank Uganda Managing Director Gift Shoko said the bank’s growing regional footprint gives businesses a strategic advantage when trading across African markets.
For companies operating across several countries, he said, having access to a financial institution with an established regional presence can make it easier to manage payments and support business expansion.
Olivia Mugaba, Head of SME at Equity Bank Uganda, said exporters can also use non-resident collection accounts to collect local sales proceeds in markets such as the DRC and transfer funds back to their home country, subject to the required export licences and regulations.
For UKI, simplifying how customers in the DRC pay for goods is now a key priority as the manufacturer seeks to deepen its presence in the market.
“Our customers in the DRC need a simpler way to pay for their supplies. Relying on local payment agents takes time and slows down business,” said Anant Kumar Manjithia, Managing Director of UKI Uganda Limited.
“We want to test a direct model where buyers in Congo can deposit funds into our account seamlessly, quickly and without extra charges.”
The partnership between UKI and Equity Bank extends beyond payments, with the bank providing customised financial solutions and capacity-building support for the manufacturer’s wider business ecosystem, including distributors and employees.
The approach reflects a broader shift among Ugandan businesses as they seek to tap into growing regional markets. For manufacturers, the challenge is no longer simply producing goods and finding buyers, but also ensuring that the financial infrastructure supporting those transactions is fast, reliable and cost-effective.
As intra-African trade expands, efficient payment systems are becoming an increasingly important part of the region’s business infrastructure.
For manufacturers such as UKI, faster settlement can improve cash flow, support quicker stock replenishment and provide greater flexibility to respond to demand in new markets.
The ability to collect payments directly from customers in regional markets can also reduce the costs and delays associated with intermediaries, allowing businesses to deploy capital more efficiently.
For Uganda’s manufacturers seeking to scale across borders, the message is increasingly clear: expanding into Africa’s markets requires more than moving goods. The ability to move money efficiently could determine how quickly businesses can turn regional opportunities into sustainable growth. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
