Equity Bank Uganda Reveals Digital Transformation Success at Top 100 SME Forum
By Amos Ssemuwemba
Equity Bank Uganda has achieved a major milestone in its digital transformation journey, with 96% of all customer transactions now processed through digital channels. This announcement was made by James Olany, Strategy & Business Manager at Equity Bank Uganda, during the Top 100 SME networking forum held at the Sheraton Kampala on Thursday.
Olany highlighted that about 50% of Equity Bank’s customers are tele-connected, enabling them to access their accounts conveniently through platforms such as the Equity Bank Mobile App and EazzyBiz. “To overcome the current transformative or disruptive business environment, SMEs have been encouraged to take up more technology-based banking and financing solutions from Equity Bank Uganda,” Olany said.
He emphasized that emerging technologies such as blockchain, cryptocurrencies, artificial intelligence, and machine learning are not only reshaping operational strategies but also setting new standards for customer experience. “These advancements have set new standards of how customers are to be served and the experience that customers expect to receive,” Olany added.
During the forum, which focused on the role of technology in business, Olany thanked SMEs for their support in banking with Equity Bank, which he described as a key player in promoting SME growth across Uganda and East Africa. “Equity Bank has been at the forefront of supporting SME growth, not only in Uganda but across the region,” he noted.
Olany advised SMEs that to expand their market reach beyond Uganda, adopting the latest technologies is no longer optional. “To scale their businesses and extend their market reach, SMEs must embrace and leverage the latest technology,” he urged.
Olany also revealed that Equity Bank provides financial education and technology-based upskilling to help SMEs digitize and commercialize their businesses. Some of the innovative solutions for SMEs include e-commerce payment platforms like EazzyBiz, Eazzy Stock, and card payments. “Equity Bank Uganda has made it easier for SMEs to retail their goods and services on online marketplaces such as Kikubo Online and Jumia,” Olany explained.
Reflecting on the bank’s mission, he stated, “Equity’s goal is to champion financial inclusion by offering integrated financial solutions that socially and economically empower our customers using innovative technology.”
The event also featured presentations from other industry experts, including Gerald Oola, Industry Solutions Manager at Huawei Technologies Uganda, who delivered the keynote address. Oola emphasized the critical role of digital transformation in driving SME growth in Uganda, where SMEs contribute 70% of the GDP and 80% of employment.
“Initially, adapting to technology was an option, but with the changing trends of the world, it is a necessity. You have to adapt to the changing market, the changing scope, and the changing world,” Oola said. He highlighted the benefits of digitization, automation, and data-driven strategies for optimizing business processes, while stressing the importance of cyber security in protecting businesses from evolving threats.
The Top 100 SME networking forum was organized in collaboration with KPMG and Nation Media Group, with Equity Bank as the main sponsor of Uganda’s Top 100 Mid-Sized Companies Survey and Awards for the next three years.
