Equity Bank, KPMG And Daily Monitor Unveil Top 100 SME Survey Campaign

This campaign seeks to identify Uganda’s fastest-growing and medium-sized companies that demonstrate business excellence and showcase some of the country’s most successful and powerful entrepreneurship stories.

The campaign targets SMEs with a turnover of 360 million to 25 billion UGX, engaging them in a 3-month survey which will culminate in a gala dinner in December.

Equity Bank’s participation as the exclusive banking partner reinforces its commitment to supporting small and medium enterprises through affordable credit solutions, mentorship, and entrepreneurship training.

In his remarks, Anthony Kituuka, Managing Director of Equity Bank Uganda Limited, said, ‘’Equity Bank is committed to supporting the Top 100 SME Survey Campaign for the next 3 years. I encourage all participants to participate as it will give you visibility. Additionally, any SME that comes to Equity Bank to access any of the products will be given a 2% discount after being listed in the Top 100 SMEs.

He added, ‘’At Equity, we offer integrated financial services that empower consumers, individuals, MSMEs, communities, regional and global businesses. We don’t only focus on making money from businesses and communities, but believe if a community is well empowered, it will then seek our services.”

He then stressed that Equity Bank Uganda Limited will always remain dedicated to fostering the growth and development of these vital enterprises through integrated financial services, aiming to transform lives, give dignity, and expand opportunities for wealth creation.

Edgar Mukasa Associate Director, Tax & Regulatory Services, KPMG Uganda while presenting about the topic of the day ” Harnessing Tax opportunities for SMEs from FY 2024/25 National budget not that the fact that the government, which has always been the biggest spender, suddenly means that there will be a lot of opportunities for those in business.

“So a question then will be for you in business, how have you established the business and how have you placed yourself to be able to tap into the opportunities that there are looking at the budget under the direction that we’re going as a country?”

He revealed that now, from the 72 trillion budget, the key to note is that domestic revenue from within Uganda will be 31 trillion now over 39.1.9 trillion and domestic tax revenue is expected to be 29 trillion.

“Now, the fact that we are looking to collect the 29 trillion certainly means something for all of us in this room. That 29 trillion is going to be paid by all of us in this room, by you and I, by our respective businesses, from us as individuals in the consumption of the foods that we consume on a daily basis.”

NMG Managing Director, Susan Nsibirwa also noted that currently harnessing tax to SMEs from the national budget of the financial year is critically significant. Therefore the players must understand the complexities of national budgets and their impact on the operations.

“This initiative has become a cornerstone for showcasing excellence and fostering growth in the community. And every year we witness the dedication and determination of these companies that will significantly contribute to Uganda’s prosperity as MMG and the people who run them. Through our platform monitor, NTV, KFM, and our extensive digital presence.

By planning and publishing their success stories, we provide inspiration and support for participating in SME’s,” she said.

She added that this year’s theme, empowering SMEs for a monetized Uganda catalysing global innovation, sustainability, and market access, aligned with our commitments to excellence and integrity.

Meanwhile, SMEs play a crucial role in Uganda’s economy, accounting for a substantial portion of the GDP and providing employment opportunities to many.