Equity Bank Uganda Limited Empowering Communities through Inclusive Finance

Equity Bank Uganda Limited is a leading financial institution in the country, and one of its key strengths is its commitment to inclusive finance. This means that they aim to provide financial services to people who are often excluded from traditional banking systems.

Equity Bank Uganda Limited has a strong presence in rural areas, with a network of over 100 branches across the country. This allows them to reach a wider audience and provide financial services to people who may not have access to traditional banking services.

Their focus on inclusive finance has led to the development of innovative products and services that cater to the needs of small-scale farmers, micro-entrepreneurs, and other low-income individuals.

Equity Bank Uganda Limited has made significant strides in enhancing the lives of 100,100 youths, including young women and refugees, through financial literacy and entrepreneurship education training, as well as business development services.

Their target is to reach 100,100 youth in work, with a focus on country-wide geographical locations. This ambitious goal has led to the development of tailored products and credit risk profiles to reduce non-performing loans.

The Bank's objectives are multifaceted, with a primary goal of improving its capacity to identify youth market segments and develop credit risk profiles. This will be reflected in reduced non-performing loans.

Market linkages through the Bank's support have increased access to markets for Micro, Small, Medium Enterprises (MSMEs), and young people.

The Bank has also extended additional affordable credit from its resources to 10,000 MSMEs and 50,000 youth, young women, and refugees.

These credit facilities have given entrepreneurs the capital needed to expand their operations, leveraging the credit guarantee.

So far, the Bank has reached youth through financial literacy, business skills training, and credit usage knowledge.

Young people have been enabled to access work opportunities through extending affordable and friendly financial facilities.

Over 18,000 collateral-free and affordable credit/loan facilities have been provided to young people, with an average loan of USD 600 to start and grow their businesses.

The Bank has developed partnerships with development organizations, Lead Firms, and the government to effect community engagements.

The partnership focus has been on offering tailor-made training to credit staff, Trainers, and 100,000 youth, young women, and refugees.

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Here are some key statistics on the Bank's partnerships and impact:

Equity Bank Uganda Limited is part of the GROW project, a collaborative effort spearheaded by the ministry of gender and labor and PSFU.

The project aims to support women in various aspects, including financial empowerment, business development, and access to medical insurance.

Equity Bank has developed a non-collateral solution-based solution under Equi Mama, where women can borrow up to 5 million without providing collateral.

This innovative approach provides women with medical insurance and hospital cash to cover maternity, as well as training and financial literacy coaching.

Equity Bank has agents across the country, and their special offering goes specifically to women in refugee settlements, where they have provided funding for 400 groups led by women.

The bank's commitment to supporting women is rooted in its founding principles, where women were the foundation and cornerstone of the bank's success.

Equity Bank is proud to work with the GROW project and extend its support to women even after the project period ends, as it drives an ecosystem growth strategy.