The Independent Uganda: You get the Truth we Pay the Price
Mbale, Uganda | NEWS CORRESPONDENT | As Ugandan manufacturers look beyond the domestic market, moving money across borders efficiently is becoming as important as moving goods.
For Mbale-based manufacturer, importer and exporter UKI Uganda Limited, cross-border payment delays have been a challenge as the company expands across East and Central Africa, particularly in the Democratic Republic of Congo (DRC).
The company is now leveraging Equity Bank’s regional network to simplify payments, improve liquidity and strengthen its distribution network.
Through the bank’s interconnected presence in Uganda, Kenya and the DRC, UKI is able to reduce reliance on third-party payment agents and multiple financial institutions, shortening settlement times and reducing costs.
Equity Bank Uganda Managing Director Gift Shoko said the bank’s growing regional footprint gives businesses an advantage when trading across African markets.
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 funds back to their home country, subject to the required export licences and regulations.
For UKI, making it easier for customers in the DRC to pay directly is a 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.”
The partnership also extends beyond payments, with Equity Bank Uganda providing customised financial solutions and capacity-building support for UKI’s wider business ecosystem, including distributors and employees.
As intra-African trade expands, partnerships such as that between UKI and Equity Bank highlight the growing importance of efficient financial infrastructure. For manufacturers, faster payments mean better cash flow, quicker stock replenishment and greater capacity to respond to regional demand.
For Ugandan businesses seeking to scale across borders, the ability to move goods and money efficiently could prove just as important as finding new markets.
