Equity Bank has renewed its partnership with KPMG and Nation Media Group (NMG) for the 2026 Top 100 Mid-Sized Companies Survey, reaffirming its commitment to supporting Uganda’s small and medium-sized enterprises (SMEs).
The survey, launched on Thursday at KPMG’s headquarters in Kampala, is now in its 19th year. It is being held under the theme, “Monetising Uganda’s Economy through Innovation, Value Addition and Market Expansion.”
The initiative aims to help businesses turn Uganda’s strong economic growth into real business opportunities through innovation, value addition, and access to new markets.
Over the past 19 years, the survey has become one of Uganda’s leading private sector development programmes. It provides a platform for companies to benchmark their performance, strengthen corporate governance, improve access to finance, and prepare for expansion.
More than 2,400 SMEs from Uganda and across East Africa have participated in the survey, with many growing into larger companies and some exploring opportunities in the capital markets.
As one of the programme’s long-term sponsors, Equity Bank says the survey is more than an annual ranking of businesses. It also provides valuable research that helps the bank understand the challenges facing SMEs and develop financial and business support solutions that meet their needs.
Speaking at the launch, Equity Bank Uganda Head of SME Banking Olivia Mugaba said the survey allows businesses to share their experiences while helping the bank design products that respond to their needs.
“The survey gives SMEs a voice. It helps us understand their challenges, identify opportunities, and design solutions that directly support their growth,” Mugaba said.
She noted that SMEs account for more than 90 per cent of Uganda’s private sector but continue to face high failure rates because of limited access to affordable financing, weak financial management, poor record keeping and inadequate business planning.
Mugaba said Equity Bank uses findings from the survey to develop products and partnerships that reduce the cost of financing while strengthening business capacity.
“Funding alone is not enough. We connect businesses to partners, technical support, and market opportunities so they can use financing sustainably and grow,” she said.
She added that through partnerships with government, innovation hubs and international development institutions, the bank has mobilised affordable financing and business development support for entrepreneurs across different sectors.
Nation Media Group Uganda managing director Susan Nsibirwa said this year’s theme reflects concerns among many businesses that, despite positive economic indicators, they are yet to experience significant financial growth.
“The economy may be growing, but businesses are asking where that growth is. This year’s survey seeks to answer that question,” Nsibirwa said.
She said the programme goes beyond ranking companies by providing practical support through expert-led forums on taxation, corporate governance, financing and business strategy.
The survey will run from July to October before ending with an awards gala in December to recognise Uganda’s best-performing mid-sized companies.
KPMG Partner Peter Kyambade said this year’s survey will focus on three key drivers of business growth: innovation, value addition, and market expansion.
“Businesses that embrace innovation and value addition will be better positioned to compete and grow sustainably in a rapidly changing world,” Kyambade said.
He added that expanding into new markets remains essential for SMEs that want to grow and withstand global economic shocks.
The Ministry of Tourism, Wildlife and Antiquities also endorsed the initiative, saying SMEs play an important role throughout the tourism value chain.
The ministry’s Director, Basil Ajer, said Uganda’s tourism industry continued to grow in 2025, with international visitor arrivals reaching about 1.64 million. He added that average visitor spending exceeded US$2,000 for the first time.
“Tourism growth creates opportunities for thousands of SMEs in accommodation, transport, hospitality and other support services,” Ajer said.
He said the government is working to ease the tax burden on tourism businesses while expanding access to affordable financing ahead of major events such as the Africa Cup of Nations (AFCON).
Organisers said the Top 100 Survey remains one of Uganda’s most influential private sector initiatives, providing businesses with practical guidance for growth while generating data that informs policy, investment and financing decisions.
For Equity Bank, the partnership reflects its broader commitment to supporting SMEs beyond lending by investing in research, business knowledge and partnerships that help enterprises grow.
As Uganda pursues industrialisation, export growth and greater value addition, stakeholders believe the survey will help SMEs convert the country’s economic potential into measurable business success.
“When SMEs grow, Uganda grows,” Mugaba said.
