Small and medium enterprises (SMEs) took centre stage this week as Equity Bank hosted the Fort Portal edition of its “Tupange Business Ne Equity” forum, honoring outstanding business leaders while rolling out tools to strengthen entrepreneurship across western Uganda.
The event, the third in a series after similar forums in Arua and Mbale, brought together traders, innovators, and community leaders for a day of financial literacy sessions, networking, and knowledge sharing. Organizers emphasized that SMEs remain the backbone of Uganda’s economy, contributing significantly to employment and household incomes, yet still require support to unlock their full potential.
Equity Bank recognized three local leaders whose influence has shaped business in the region, Mubunga Samuel, Managing Director of Mubunga Investments Multipurpose Co. Ltd, received the SME Ecosystem Customer Award for his role in expanding distribution networks in Bundibugyo and Ntoroko, Prof. Edward Rugumayo of Tooro Botanical Gardens was given the Customer Loyalty Award, reflecting his consistency in driving sustainable business practices and Rt. Rev. Bishop Reuben Kisembo, head of the Rwenzori Diocese, was honoured with the Business Influencer Award for inspiring ethical leadership and community-driven enterprise.
Beyond recognition, the forum featured practical sessions where entrepreneurs were guided on financing options, digital banking, and business growth strategies. Prof. Alex Ariho, CEO of the African Agribusiness Incubators Network, urged participants to adopt innovation, value addition, and resilience as keys to business survival in challenging times.
Equity Bank’s Head of SMEs, Olivia Mugaba, reaffirmed the bank’s role as a partner in enterprise growth, stressing that SMEs are “the backbone of transformation” and must be supported through both financing and mentorship. Other bank officials echoed this, noting that the initiative ties directly to Equity’s mission of creating shared prosperity.
The bank’s leadership pledged to expand the forums nationwide, creating a unified SME ecosystem where entrepreneurs at every level can thrive. Catherine Psomgen, Equity’s Director of Public Sector and Social Investments, explained that the campaign aims to connect big anchor businesses with smaller players to ensure growth is inclusive and sustainable.
Participants left with not only new knowledge but also renewed confidence that institutions like Equity Bank are committed to walking alongside them as they grow. The Fort Portal event underscored how financial literacy, recognition, and collaboration can work together to unlock the full potential of Uganda’s SME sector.