By Mulengera Reporters
Mr. Gift Shoko, Equity Bank Uganda’s Managing Director, has said the Bank is not only driving regional investment through its high-level Trade Mission, but is also playing a transformative role in making banking more accessible to everyday Ugandans.
Speaking on Friday, at the Equity Investors Trade Mission in Kampala, Shoko shifted focus from the global investment figures to the day-to-day experiences of ordinary people, sharing how far the banking sector has come and the role Equity has played in demystifying it.
“Back in the day, banking was a preserve of the elite. Shoko- said, citing when his elder brother had to wear a suit just to go to the bank, and that was after booking an appointment, sometimes a month in advance. “That’s one of the challenges Equity Bank came to eliminate,” he added.
The MD explained that today, Equity Bank has simplified banking, making it accessible to millions across Uganda, including those in rural communities.
He credited this transformation to innovations such as Equi Duuka, the Bank’s agent banking service, which was the first of its kind in the Uganda and now operates in almost every trading center, and now, anyone can deposit, withdraw, or even open a bank account through mobile banking without ever stepping into a banking hall.
The Trade Mission, which brought together over 40 investors from Africa, Asia, Europe, and the Middle East, aims to unlock trade and investment opportunities by connecting local MSMEs to global capital and networks.
Sectors targeted include agribusiness, tourism, energy, infrastructure, manufacturing, and mineral value addition.
Shoko noted that Uganda’s reputation as one of the most entrepreneurial countries globally makes it an ideal environment for growth and investment.
“This Trade Mission is about more than just deals; it’s about building resilient value chains and creating 50 million jobs by 2030 under our Africa Recovery and Resilience Plan.”
This plan, according to Shoko, was generated during the COVID-19 pandemic, where he said they realized that Africa was on its own, since other continents were doing everything to protect their people, but Africa was thought about at all. In response, Equity launched a bold commitment of USD 6 billion, targeting priority sectors like food, trade, manufacturing, social services, and green investments.
The Bank, now a regional powerhouse, is anchored on four strong pillars, of commercial banking, technology, insurance, and investment banking. According to Shoko, these pillars are designed to support growth at every level, from individuals to multinationals.
On social impact, he emphasized that the Bank’s commitment to Corporate Social Responsibility (CSR) is not a checkbox exercise but a central part of its mission. “We treat CSR as a long-term investment in the communities we serve,” he said.
As Uganda continues to position itself as a regional investment hub, Equity Bank Uganda is leading by example, not just through policy partnerships and capital connections, but by making sure every Ugandan can walk into the financial future, suit or no suit. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
