• Throughout the 2023 financial period, Equity Bank Uganda will be identified as a Domestic Systemically Important Bank (DSIB) – a bank that continues to contribute significantly to the stability of the country’s economy.
• The designation is timely and reflects the Bank’s strong positioning in the market and its growing impact on people and communities.
• As at December 2022, Equity Bank is the 3rd largest bank in customer deposits, 3rd largest bank in loans and advancements and 5th largest bank in total assets

Ntungamo, April 12, 2023- Equity bank Uganda has today launched a women-based product dubbed Equi-mama. The product is a transformative credit facility designed to unlock the entrepreneurial potential of women in rural Uganda.

Equi-mama credit facility aims to provide women with access to affordable capital, equip women with business skills, offer them mentoring, expose them to business networks and equip them with the tools they need to succeed in business.

Speaking at the launch of the product at the Ntungamo Municipal Grounds, First Lady and Minister for Education Janet Museveni applauded Equity leadership for creating a product that specifically benefits women.

“I requested Equity Bank to open a branch in Ntungamo and secondly, to provide a product that would specifically benefit women at the grassroots. I wanted to see our women walk into a bank and borrow money for their small-scale businesses with ease. So, today, I am so grateful to God for answering that prayer, as we launch the Equity Bank Branch in Ntungamo District and the Equi-Mama Product, which is specifically designed to meet the needs of small-scale women and youth entrepreneurs,” said Mrs Janet Museveni, as she launched the product.

She added, “I am grateful to Equity Bank for extending its banking services to Ntungamo District and for considering women and the youth, who have long faced difficulties in obtaining loan facilities, due to the lack of collateral, as well as limitations in exercising their property rights. “

Mrs Museveni pointed that while women and the youth play an important role in society, they rarely have access to credit facilities, while many are limited by lack of financial literacy, regarding the products available to help businesses succeed.

Equity Bank Managing Director Anthony Kituuka affirmed that women entrepreneurs through the Equi-mama proposition truly have something that will boost their businesses, mitigate against business and household risk and have access to affordable funding and free financial education.

“Equi-mama is designed specifically to address the unique needs of women at the micro level. We have taken a customer-centric approach, conducting extensive research to understand the financial challenges women at the bottom of the economic pyramid face and how we can help them overcome these challenges,” said Mr Kituuka.

Adding, “We have also taken steps to ensure that the product is accessible to women of all backgrounds and income levels. We offer flexible payment options and no application fees making it easier for women to access our services.”

Kituuka said Equity’s free financial and entrepreneurial literacy training is aimed at addressing hurdles such as record keeping, accounting and long-term business planning. The financial education will make it also easier for digital and remote onboarding for women in business, making access to finance much easier.

The latest product of the bank also offers women at micro level unsecured loans from as low as UGX5m to UGX40million. It also comes with insurance for maternity, life, catastrophe, fire, and temporary or permanent disability. During maternity, the bank gives the female customer maternity support which also includes antenatal insurance.

Already, the Bank has trained over 89,000 women in various aspects of business development and growth and given loans to over 20,000 women in various groups under the program. Equi-mama was first developed in 2021 to address challenges faced by women affected by the covid19 pandemic.

Through the product, the bank will support rural women to develop their business management skills through access to free financial training. This will give women the knowledge, skills and tools they need to gain better access to finance and move their business to the next level of growth.

Equity will also provide business support to women entrepreneurs through tailored business advisory sessions, advance business workshops, networking and linking them to financial services, investments and markets.

Before the product launch, Mrs Museveni opened the new Equity Ntungamo branch which brings the total number of the Banks branches to 50. She was grateful that an African Bank was taking deep root and growing to enable fellow Africans.

Equity Bank is present in the 6 East African Countries and Ethiopia.

From left to right, Equity Bank Managing Director Anthony Kituuka, Hannington Wasswa, Director Commercial Banking Bank of Uganda, Equity Bank Executive Director Public Sector and Social Investments Elizabeth Mwerinde and the First Lady and Minister for Education Hon.Janet Museveni launch the Equi-Mama loan product.

The First Lady and Minister for Education Hon.Janet Museveni cuts a ribbon to open the new Ntungamo bank branch.

About Equity Bank Uganda
Equity Bank Uganda began its operations in 2008 and is regulated by Bank of Uganda. The Bank has its Head Office in Kampala and a network of 50 branches, over 7000 Equi duuka agents, 6,048 merchants and 50 ATMs spread across the country and serving over 1.8 million customers.

Equity Bank Uganda is a subsidiary of Equity Group Holdings Plc, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Uganda, the Group has banking subsidiaries in, Kenya, Rwanda, Tanzania, DRC, South Sudan, and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group is the largest bank in the region with assets of USD 12 billion. It is also the largest bank in terms of deposits, with a market capitalisation of USD 2 billion and a customer base of over 15 million. The group has 337 branches, 56,772 agents, 32,269 merchants, 697 ATMs and has widely adopted digital banking channels.

The Banker's Top 1,000 World Banks 2021 ranked Equity Bank 761 in its global ranking, position 39 globally on return on assets, position 71 on return on capital, and position 149 on soundness (Capital Assets to Assets ratio). The Banker's Top 100 African Banks 2020 ranked the Bank 7th among the top 10 banks in Africa, 5th for strength, 9th for growth performance, 8th for return on risk and 6th for profitability and leverage category. In the same year, Moody's gave the Bank an overall rating of B2 with a negative outlook, identical to the Kenyan government's sovereign rating, due to the Bank's strong brand recognition, strong liquidity buffers and resilient funding profile, well-established national franchise, and strong adoption of digital and alternative distribution channels.