Equity Bank Uganda has reiterated its commitment to supporting refugees through innovative financial services and social protection programs, with a focus on fostering dignity, independence and self-reliance.
The promise was made recently during the celebration of World Refugee day where the bank was recognized for its efforts in impacting thousands of refugee families and entrepreneurs across Uganda.
Since 2018, Equity bank has been a vital partner in delivering cash transfers to vulnerable refugee households, reaching more than 130,000 families across nine refugee settlements. To date, the bank has provided assistance totaling Shs 301.7 billion, enabling families to meet essential needs such as food, healthcare and education.
Speaking to the media, Derrick Kyambadde, the bank’s manager for Social Protection, emphasized the importance of these efforts in giving refugees dignity and financial freedom.
“Uganda hosts the highest number of refugees on the continent. We believe that they don’t just need help but also need opportunities. Access to financial services gives them the dignity and freedom to rebuild their lives and explore opportunities within and around the settlements,” he said.
Beyond cash transfers, Equity bank has extended support to refugee-led businesses, empowering nearly 400 entrepreneurs over the past two years. Many people rely on these businesses to support their families and communities.
Kyambadde highlighted the bank’s role in nurturing these enterprises, staying “Our support helps refugees become more bankable, work towards their financial goals, and ultimately transform their lives.”
Additionally, Kyambadde stated that under its Social Protection Pillar, Equity bank is committed to easing social and economic hardship among refugees by implementing direct cash transfer programs.
These efforts are aimed at alleviating poverty and deprivation in displaced communities. He stated that cash transfers have emerged as a cost-effective and efficient method to boost the socio-economic status and self-reliance of the most vulnerable populations.
“The adoption of cash transfers for the delivery of humanitarian aid fosters financial inclusion and affirms the dignity of recipients as they gain financial independence. Financial inclusion enables beneficiaries to oversee their spending and savings through fully-fledged bank accounts (often first-time bank accounts) and biometric smart cards, a model that enhances convenience, security, accessibility, and efficiency as well as accountability,” Kyambadde said.
