Equity Bank's East and Central Africa Regional Network Key to Success of Mbale's Uki Uganda

As Ugandan manufacturers increasingly look beyond their domestic market, the efficiency of cross-border payments has become as critical as the movement of goods. For UKI Uganda Limited, a Mbale-based manufacturer, importer, and exporter, payment delays across East and Central Africa, particularly in the Democratic Republic of Congo (DRC), have posed a significant challenge to its expansion.

UKI is now utilizing Equity Bank's extensive regional network, which spans Uganda, Kenya, and the DRC, to overcome these obstacles. This collaboration allows UKI to reduce its dependence on multiple financial institutions and third-party payment agents. Consequently, the company benefits from shorter settlement times and reduced transaction costs, enhancing its overall operational efficiency and strengthening its distribution network.

Equity Bank Uganda's Managing Director, Gift Shoko, emphasized that the bank's expanding regional presence provides businesses with a competitive edge in African markets. Olivia Mugaba, Head of SME at Equity Bank Uganda, added that exporters can utilize non-resident collection accounts to receive local sales proceeds in markets like the DRC and repatriate funds, subject to regulatory compliance.

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Our customers in the DRC need a simpler way to pay for our supplies. Relying on local payment agents takes time and slows down business.

UKI's managing director, Anant Kumar Manjithia, highlighted the priority of enabling simpler payment methods for customers in the DRC. "Our customers in the DRC need a simpler way to pay for their supplies. Relying on local payment agents takes time and slows down business," Manjithia stated. "We want to test a direct model where buyers in Congo can deposit funds into our account seamlessly, quickly and without extra charges."

The partnership extends beyond payment facilitation, with Equity Bank offering customized financial solutions and capacity-building support to UKI's broader business ecosystem, including distributors and employees. As intra-African trade continues to grow, such collaborations underscore the vital role of robust financial infrastructure in enabling seamless commerce and supporting the scalability of businesses across the continent.

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We want to test a direct model where buyers in Congo can deposit funds into our account seamlessly, quickly and without extra charges.