Invited guests at the SME Top 100 Technology Forum
HABARI DAILY I Kampala, Uganda I With 96% of all their customer transactions conducted through digital channels, Equity Bank Uganda is setting a new trend, in a move bent on serving its highly sophisticated clientele.
James Olany, the Strategy and Business Manager made the revelation recently, adding that about 50% of all the bank’s customers were tele-connected and could access their accounts at their convenience wherever they were.
“All these services are at arm’s length. Our clients can either use the Equity Bank Mobile App or online banking platforms such as EazzyBiz,” he said.
This was during the Top 100 SME networking forum held at the Sheraton Kampala on September 19th, where Technology was the main theme for the event.
Olany further said that in order to overcome the current transformative or disruptive business environment, SMEs have to join the digital banking bandwagon
He said as a result of emerging technologies such as blockchain technology, cryptocurrencies, artificial intelligence and machine learning, these advancements have not only shaped the operational strategies but also set new standards of how customers are to be served and the experience that customers expect to receive.
Olany appreciated SMEs for their support in banking with Equity, which has been at the forefront of supporting SME growth in not only Uganda but also East Africa and beyond.
“In order to scale your businesses and extend your market reach beyond Uganda, adoption and leveraging of the latest technology is inevitable,” he counselled.
He revealed that Equity Bank provides financial education to their customers and runs technology-based upskilling to assist them in commercialising and digitizing their businesses.
Some of the technologies making breakthroughs for Equity Bank SME customers include retailing their goods and services on their websites, being part of online marketplaces like Kikubo Online and Jumia.
Others include integrating e-commerce payment such as Eazzy biz, Eazzy stock, card payments and digital transactions via mobile app, that are all offered by Equity Bank Uganda.
Equity Bank’s digitalization call reveals how it’s championing financial inclusion by offering integrated financial solutions that socially and economically empower its customers using innovative solutions.
The bank has lined up innovative solutions that offer comprehensive banking experiences that support their financial needs, cash management, liquidity management, bill payments and cashless transaction settlements that eventually make banking easy.
Olany appreciated the Top 100 partners which include KPMG and National Media Group for allowing Equity Bank to be their financial and banking partner.
In July 2024, Equity Bank Uganda announced that it had partnered with KPMG and the Nation Media Group as the main sponsor of Uganda’s Top 100 Mid-Sized Companies Survey and Awards for the next three years.
The Top 100 mid-sized companies is a survey-based campaign that has been ongoing for over a decade and organized by Nation Media Group (Daily Monitor, K-FM and NTV) in partnership with KPMG, a leading international auditing firm.
Other partners include the Uganda Securities Exchange, Huawei and The Innovation Village.
At the launch, Anthony Kituuka the MD of Equity Bank Uganda stated that the Top 100 Mid-Sized Companies Survey and Awards presented a significant opportunity for them to showcase their SME offerings and solidify their position as a key financial partner in the sector.
Gerald Oola, Huawei Technologies Uganda’s Industry Solutions Manager, who gave the keynote presentation, highlighted the crucial role of digital transformation in enhancing SME growth, particularly in Uganda.
“In this country, SMEs contribute 70% of GDP and 80% of employment. We need to groom them, because when they grow, the entire economy grows,” he said.
He said initially, adapting to technology was an option, but with the changing trends of the world, it is now a necessity. “You have to adapt to the changing market, the changing scope and the changing world.
During the forum, key concepts that were covered included digitalisation, and digital transformation, the importance of data-driven strategies and automation to optimize business processes.
Other concepts included the significance of supply chain management, the benefits of cloud computing, and the necessity of cybersecurity tailored to various industries.
Equity Bank Uganda began its operations in 2008 and is regulated by the Bank of Uganda. The Bank has its head office in Kampala and a network of 50 branches, over 9,000 Equiduuka, over 2,300 merchants and 56 ATMs spread across the country and serving over 2 million customers
