Equity Bank Uganda and Modern Group of Companies are strengthening their strategic relationship as the two institutions position themselves to support business expansion, industrial growth and increased investment in Uganda and the wider East African market.The relationship comes as businesses increasingly look beyond traditional access to loans and seek financial partners that can understand their operations, respond to emerging challenges and provide solutions capable of supporting long-term growth.
For Modern Group, the relationship with Equity Bank has been driven in part by the bank’s responsiveness at the local level. Modern Group Chief Executive Officer Jagdish Srivastava said the bank’s teams have demonstrated an ability to engage directly with the company and respond quickly when financial or operational issues arise.Srivastava said this approach has given Modern Group greater confidence in Equity Bank, particularly because the institution combines the capacity of a major financial organisation with an understanding of the realities businesses face on the ground.He said the partnership is especially important as Modern Group continues to pursue opportunities across Uganda and East Africa. Drawing from his own experience in international banking, Srivastava noted that working with a major financial institution provides businesses with the scale, stability and support needed to pursue ambitious expansion plans.He added that Modern Group is looking forward to expanding its engagement with Equity Bank across several financing areas once its internal approval processes are completed, describing the bank’s approach as positive, practical and focused on finding solutions.
Equity Bank Uganda Regional Manager for the Eastern Region Ronald Nakhasanga said Modern Group is an important relationship for the bank, citing its broad presence in manufacturing, building materials, agro-processing and other sectors. He said the diversity of the group’s operations creates significant opportunities for both institutions to grow together.The developing partnership underscores the increasingly important role of strategic banking relationships in Uganda’s industrial transformation. Beyond providing capital, Equity Bank aims to support Modern Group across its broader business ecosystem, while the company seeks a dependable financial partner capable of matching its ambitions as it expands its footprint and competes in regional markets.
