The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Equity Bank, Nation Media Group and KPMG are not just spotlighting successful SMEs with the launch of another Top 100 Mid-Sized Companies Survey—they also aim to cultivate the next generation of business leaders driving Uganda’s economic transformation.
“At Equity Bank, we go beyond providing banking services. We journey with SMEs from ideation to expansion, walking hand-in-hand to nurture growth,” said Claver Serumaga, the newly appointed Executive Director at Equity Bank Uganda, as the 17th edition of the Top 100 Mid-Sized Companies Survey 2025 was launched at Sheraton Hotel Kampala today.
Speaking during the event, Serumaga emphasized Equity Bank’s dedication to transforming lives and building sustainable enterprises: “Our continued investment in this survey and beyond is a reflection of our belief in the transformative power of entrepreneurship.”
Equity Bank Uganda Limited, together with Nation Media Group and KPMG, is sponsoring the survey, under the theme “Driving Inclusive Business Growth—Empowering SMEs across All Sectors for Economic Transformation.”
“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 Benson Mwesigwa, Associate Director at KPMG Uganda.
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 from 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.
Equity Bank and SMEs
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 sh500 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 sh10 million loan and now manages a sh2 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, Mugaba said.
The 2025 survey seeks to identify and celebrate Uganda’s fastest-growing, most resilient SMEs—those with annual revenues between sh360 million and sh25 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.
The launch also introduced the bank’s parallel initiative, ‘Tupange Business ne Equity,’ a series of SME forums scheduled across Uganda 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.
