As Ugandan manufacturers increasingly look beyond the domestic market, efficient cross-border financial services are emerging as a critical enabler of regional trade.
For Mbale-based manufacturer, importer and exporter UKI Uganda Limited, payment delays have been a persistent challenge as the company expands its business across East and Central Africa, particularly in the Democratic Republic of Congo (DRC).
The company is now leveraging Equity Bank Uganda’s regional network to simplify cross-border payments, improve liquidity and strengthen its distribution operations.
Through Equity Bank’s interconnected presence in Uganda, Kenya and the DRC, UKI Uganda is seeking to reduce its reliance on third-party payment agents and multiple financial institutions, helping to shorten settlement times and lower transaction costs.
Equity Bank Uganda Managing Director Gift Shoko said the bank’s growing regional footprint gives businesses an important advantage as they expand into African markets.
“Our regional presence enables us to support businesses not only with financing, but also with practical solutions that make it easier to trade across borders,” Shoko said.
Olivia Mugaba, Head of SME at Equity Bank Uganda, said exporters can also take advantage of non-resident collection accounts to collect local sales proceeds in markets such as the DRC and transfer funds back to their home countries, subject to the necessary export licences and regulatory requirements.
For UKI Uganda, making it easier for customers in the DRC to pay directly is a key priority.
“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,” said Anant Kumar Manjithia, Managing Director of UKI Uganda Limited.
“We want to test a direct model where buyers in Congo can deposit funds into our account seamlessly, quickly and without extra charges,” he added.
The partnership goes beyond facilitating payments. Equity Bank Uganda is also providing customised financial solutions and capacity-building support for UKI Uganda’s wider business ecosystem, including its distributors and employees.
The collaboration comes at a time when intra-African trade is gaining momentum, with manufacturers and exporters increasingly seeking ways to access new markets while managing the financial and logistical challenges associated with cross-border commerce.
For businesses such as UKI Uganda, faster and more efficient payments can translate into improved cash flow, quicker stock replenishment and greater ability to respond to demand in regional markets.
The partnership between Equity Bank and UKI Uganda therefore demonstrates how interconnected banking infrastructure can help Ugandan businesses overcome some of the financial barriers associated with regional expansion.
As more manufacturers seek opportunities beyond Uganda, the ability to move both goods and money efficiently will remain an important factor in determining how successfully they can compete and grow across African markets.
