As Uganda’s industrial sector continues to expand, businesses are increasingly looking for financial partners that can provide not only access to capital but also timely, flexible and practical solutions to support long-term growth.
For Modern Group of Companies, one of Uganda’s diversified business conglomerates, this need has shaped its emerging partnership with Equity Bank Uganda.
The relationship goes beyond traditional access to credit. It is built around responsiveness, local understanding and the ability to provide financial solutions that match the evolving needs of a growing business.
According to Jagdish Srivastava, Chief Executive Officer of Modern Group, Equity Bank’s responsiveness, particularly through its teams operating in areas where the company has business interests, has been a key factor in the relationship.
“What stands out most is the responsiveness of Equity’s ground team. They are proactive, approachable and quick to address matters as they arise,” Srivastava said.
He noted that the experience has reinforced the importance of working with a financial institution that combines the strength and resources of a major bank with a practical understanding of the realities businesses face on the ground.
For Modern Group, which operates across multiple sectors, such a partnership is particularly important as it seeks to strengthen its operations and pursue further growth in Uganda and the wider East African market.
“As a former international banker myself, I understand the distinct strategic advantages of working with one of the country’s leading financial institutions,” Srivastava said.
He added that partnering with a major institution such as Equity Bank provides the scale, stability and institutional support required to unlock long-term business growth.
“Equity Bank’s team approaches business with a highly positive, solution-oriented mindset, and as our internal authorization processes are finalized, we look forward to deepening this partnership across multiple financing areas,” he said.
The relationship between Equity Bank Uganda and Modern Group represents more than the financing facility currently in place. It signals the potential for a broader strategic partnership in which financial solutions are aligned with the group’s changing business requirements.
Ronald Nakhasanga, Regional Manager for the Eastern Region at Equity Bank, described Modern Group as an important relationship for the bank, citing the company’s extensive footprint across different sectors.
“Modern Group represents a cornerstone relationship for our bank,” Nakhasanga said.
He highlighted the group’s presence in sectors including manufacturing, building materials and agro-processing, saying this presents significant opportunities for shared growth.
“Our commitment goes beyond traditional corporate banking; we are strategically positioned to support their full ecosystem, driving value across their entire operational footprint,” he said.
The partnership comes at a time when businesses in Uganda’s increasingly competitive industrial sector require more than capital to remain competitive. Access to responsive financial services, strong institutional support and a banking partner that understands business needs can play a critical role in enabling companies to expand and seize new opportunities.
For Modern Group and Equity Bank Uganda, the emerging relationship points to a shared ambition: creating a long-term partnership capable of supporting business expansion, strengthening operations and contributing to growth across Uganda and the wider East African region.
