Mbale, Uganda — As Ugandan manufacturers increasingly look beyond the domestic market, efficient cross-border financial services are becoming critical to expanding trade across Africa.
For Mbale-based manufacturer, importer and exporter UKI Uganda Limited, delays in cross-border payments have been a challenge as the company expands its operations 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 payments, improve liquidity and strengthen its distribution network.
Through Equity Bank’s interconnected presence in Uganda, Kenya and the DRC, UKI Uganda can reduce its reliance on third-party payment agents and multiple financial institutions. This is expected to shorten settlement times, lower transaction costs and make it easier for the company to manage its regional operations.
Equity Bank Uganda Managing Director Gift Shoko said the bank’s growing regional footprint gives businesses an advantage when trading across African markets.
He said the bank’s network is designed to help businesses move both goods and money more efficiently as they expand across borders.
Meanwhile, Olivia Mugaba, Head of SME at Equity Bank Uganda, said exporters can use non-resident collection accounts to collect local sales proceeds in markets such as the DRC and transfer the funds back to their home countries, subject to the required export licences and regulatory requirements.
For UKI Uganda, simplifying payments for customers in the DRC is a major 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 between UKI Uganda and Equity Bank extends beyond payment solutions. The bank is also providing customised financial services and capacity-building support to UKI’s wider business ecosystem, including distributors and employees.
As intra-African trade continues to grow, partnerships that improve financial connectivity are becoming increasingly important to manufacturers and exporters.
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 demonstrates how financial institutions can support Ugandan businesses seeking to expand beyond the domestic market by making it easier to move both goods and money across borders.
For Ugandan manufacturers looking to tap into new African markets, efficient financial infrastructure could prove just as important as identifying the markets themselves.
