When Master Grain Milling produced its first bag of wheat flour in 2013, the Jinja-based company was operating with a single production line.
Thirteen years later, the company says it has grown into a structured agro-processing business with an annual turnover of more than Shs60 billion in the 2025/26 financial year.
The company attributes part of this growth to increased production capacity, a wider distribution network and access to financing, with Equity Bank Uganda playing a key role in funding its expansion.
The relationship between the two companies began in 2018 after Master Grain Milling sought a new banking partner to support its growing financial needs.
According to managing director Hajji Swammit Itaaga, the company had reached a point where its previous bankers were unable to provide the level of financing it needed.
“Equity Bank saved us some time back. Our former bankers reached a point where they couldn’t support us financially, but Equity Bank came on board and gave us the exact funds we needed,” Itaaga said.
He said the financing was provided on terms that enabled the company to invest in its operations while the bank continued supporting the business through trade financing.
“Equity Bank offered us a great deal with sufficient capital and has consistently supported our growth through reliable trade,” Itaaga said.
The additional financing came at an important stage in the company’s development.
With improved access to capital, Master Grain Milling invested in modern equipment and began changing its internal systems as it moved from a largely owner-managed business to a more structured company.
In 2019, the company acquired a modern production line from Europe. The investment increased its production capacity and was followed by changes in the way the business was managed.
The company established dedicated finance, production and sales departments and expanded its distribution network by setting up regional depots in different parts of the country.
It also replaced its ageing transport fleet with new commercial trucks and strengthened its sales operation.
The company now has about 22 sales representatives, each equipped with a company vehicle to support distributors across Uganda, according to its management.
Meddy Mbaziira, the head of sales and marketing, said the changes have helped the company move away from the informal structure it previously had.
“Initially, the structures weren’t there because it was a one-man-run business, but right now the business has structures,” Mbaziira said.
“We have dedicated finance and production teams, as well as a sales department with around 22 sales representatives across the country. Where we once relied on a fleet of very old trucks, we now operate with brand-new ones, making distribution easy.”
The company says the investments have allowed it to build an integrated operation that combines manufacturing with distribution.
However, management says access to working capital remains important if the company is to make full use of its existing production capacity.
Itaaga said the company could employ more people and increase its operations if it continues to receive financing support.
“If we continue working closely with Equity Bank to meet these current needs, we will be able to employ even more people,” he said.
Working capital is particularly important for manufacturers and agro-processors because they need money to buy raw materials, maintain stocks, pay workers and meet other operating costs while waiting for customers to make payments.
For Master Grain Milling, management says additional working capital would help the company increase production and respond more effectively to market demand.
The company’s growth journey was recently reviewed during a visit to its Jinja plant by Equity Bank’s executive leadership.
The delegation, led by the bank’s board chairman Henry Rugamba and managing director Gift Shoko, toured the facility to learn more about the company’s operations, its expansion and its future plans.
The visit also provided an opportunity for the two sides to discuss how further financing and business support could help Master Grain Milling expand its operations.
The company says its immediate ambition is to make fuller use of its production capacity, which currently stands at 540 tonnes a day.
Management expects additional working capital to help increase production, meet demand, strengthen the business and create more employment.
The Master Grain Milling story also highlights the importance of finance to Uganda’s manufacturing and agro-processing sectors.
For companies that invest in machinery and production facilities, access to equipment alone is not enough. They also need working capital to keep factories operating, purchase raw materials, maintain distribution networks and take advantage of new market opportunities.
For Equity Bank, the partnership with Master Grain Milling illustrates how financing can support businesses as they increase production, strengthen their operations and create jobs.
For Master Grain Milling, what began in 2018 as a search for financing has developed into a longer-term banking relationship as the company seeks to expand its production and distribution operations.
As Uganda seeks to promote local manufacturing and add value to agricultural products, the company says its next stage of growth will depend on its ability to turn its existing production capacity into increased output, sales and employment.
