HABARI DAILY I Kampala, Uganda I Equity Bank Uganda one of the biggest commercial banks in Uganda is shining a light on how access to financial services is helping thousands of refugees rebuild their lives with dignity and independence.
Through its Social Protection program, the Bank has extended support to refugee-led businesses and made possible cash transfers to over 130,000 families across nine of the 13 refugee settlements in Uganda.
Derrick Kyambadde, the Equity Bank Manager for Social protection noted that in the last two years alone, Equity Bank has provided closed to Shs1.8 billion in support to close to 400 refugee led businesses.
“Among the recipients are 7,182 women and 3867 men, many of them who are running small business that support their families and communities,” he said.
He added that Equity Bank has provided and played a key role in delivering cash transfer to vulnerable refugee households since 2018. Over the past five years, more than 130,000 households have received assistance totalling UGX301.7 billion, helping them meet essential needs like food, education and healthcare.
“As we all know, Uganda hosts the highest number of refugees on the African continent. We believe that they just don’t need help but need opportunity in this host country they are in,” said Kyambadde.
He said they believe that access to financial services gives them the dignity and freedom to rebuild their lives and exploit opportunities available within and around the settlements.”
“Through its Social Protection Pillar, Equity Bank seeks to reduce social and economic hardship and alleviate extreme poverty and deprivation through direct cash transfer programs for refugees.”
Kyambadde further said that cash transfers have proven to be a cost-effective and efficient way to advance the socio-economic status and self-reliance of the most vulnerable.
“The adoption of cash transfers for the delivery of humanitarian aid fosters financial inclusion and affirms the dignity of recipients as they gain financial independence,” he said.
He pointed out that financial inclusion enables beneficiaries to oversee their spending and savings through fully-fledged bank accounts (often first-time bank accounts) and biometric smart cards, a model that enhances convenience, security, accessibility, and efficiency as well as accountability.
With the Equity Bank cards, beneficiaries can access their cash allocations and use the card to purchase goods and access other much needed services.
Kyambadde added that under this program, beneficiaries are also taken through financial literacy training to equip them with the knowledge, skills, and attitudes required for effective financial management: earning, spending, saving, borrowing, and investing.
“Participants are empowered to make informed financial choices and use services that previously seemed beyond their grasp. Equity’s support helps the beneficiaries work towards their financial goals, become more bankable, and ultimately transform their lives.”
Equity recently joined the global community to celebrate the International Refugee Day whose theme in 2025 was “Solidarity with Refugees.” This day, which falls on 20 June each year, shines a light on the rights, needs and dreams of those forced to flee from their homes or countries of origin.
