By Mulengera Reporters
In a country where small and medium enterprises (SMEs) make up over 90% of the private sector and employ more than 3 million Ugandans, the need to celebrate and support these engines of growth has never been greater.
It is against this backdrop that Equity Bank Uganda limited, in partnership with Nation Media Group and KPMG, has unveiled the 17th edition of the Top 100 Mid-Sized Companies Survey, an initiative aimed at identifying and uplifting Uganda’s most promising SMEs that are driving inclusive business growth and economic transformation.
The launch, held at the Sheraton Hotel Kampala, re-affirmed Equity Bank’s unwavering commitment to supporting Uganda’s thriving SME ecosystem through tailored financial solutions, business advisory, capacity building and market access initiatives.
Speaking during the event, Mr. Claver Serumaga, the newly appointed Executive Director at Equity Bank Uganda emphasized the Bank’s dedication to transforming lives and building sustainable enterprises,
“At Equity Bank, we go beyond providing banking services. We journey with SMEs from ideation to expansion, walking hand-in-hand to nurture growth. Our continued investment in this survey and beyond is a reflection of our belief in the transformative power of entrepreneurship.”
As Uganda’s premier financial partner for SMEs, Equity Bank is participating for the second consecutive year as the exclusive banking partner, committing to a three-year sponsorship of the survey. The bank is currently serving over 15,000 SMEs with more than UGX 500 billion in financing across sectors such as agriculture, logistics, construction and manufacturing, efforts aligned with its continental Africa Recovery and Resilience Plan, which is injecting USD 65 billion into real sector businesses across Africa.
Olivia Mugaba, Head of SME at Equity Bank, passionately highlighted the real-world impact of the Bank’s partnerships,
“The story of Equity Bank is truly a story of transformation, of changing lives and enabling growth from the grassroots up. I recall a client who started with a UGX 10 million loan and now manages a UGX 2 billion portfolio. That’s the kind of impact we live for. This partnership has defined who we are, a bank that empowers SMEs to thrive, scale and become industry leaders,” she said.
The 2025 survey seeks to identify and celebrate Uganda’s fastest-growing, most resilient SMEs, those with annual revenues between UGX 360 million and UGX 25 billion, and at least three years of audited financials.
The process involves two detailed assessments: one on financial health and another evaluating governance, digital readiness, and innovation. Participation is free and nationwide research begins immediately, led by a team of 50 trained surveyors.
Benson Mwesigwa, Associate Director at KPMG Uganda, emphasized the purpose behind the survey, saying
“Now that the survey is officially launched, our next step is to hit the ground running, deploying a team of over 50 researchers across the country to engage SMEs directly, collect valuable data and support them through this process. This is more than just a ranking; it’s a journey of discovery, capacity building, and connecting businesses to the partners, capital, and insights they need to grow,” said Mwesigwa.
The launch also introduced the Bank’s parallel initiative ‘Tupange Business ne Equity’, a series of SME forums scheduled across the country in the coming weeks. These forums aim to equip businesses with financial management tools, digital skills, and advisory support, further underlining Equity’s holistic approach to SME development.
Susan Nsibirwa, Managing Director of Nation Media Group, applauded the strength of the partnership,
“Having Equity Bank as our official banking partner is a perfect fit. They have a solid reputation for serving SMEs, not just in Uganda but across the region. We believe their contribution will be key in growing the Top 100 Club and the businesses it represents.”
The 2025 Top 100 Survey will run through July to September, culminating in a gala dinner in October to unveil the final rankings.
The campaign also includes themed forums on finance, tourism and technology, with key sessions led by Huawei and the Uganda Securities Exchange.
With this powerful collaboration, Equity Bank, Nation Media Group and KPMG are not just spotlighting successful SMEs, but also cultivating the next generation of business leaders driving Uganda’s economic transformation. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
