Equity Bank powers Master Grain Milling’s rise

What the report says

Master Grain Milling Limited, a Jinja-based agro-processing company, has expanded from a single flour production line in 2013 into a more structured business with annual turnover reported at more than Shs 60 billion in the 2025/2026 financial year. According to The Observer, the company says its growth has been closely tied to financing from Equity Bank Uganda, which stepped in in 2018 after its earlier bankers could no longer provide enough support.

The report says the bank provided capital and trade-finance support that helped the firm invest in modern machinery, including a production line acquired from Europe in 2019. Master Grain Milling also built out internal departments for finance, production and sales, expanded its distribution network with regional depots, replaced old trucks with newer ones and grew its sales team to about 22 representatives covering Uganda.

Managing Director Hajji Swammit Itaaga and sales head Meddy Mbaziira said the business moved from a largely owner-run operation to one with clearer corporate structures. The company says its next stage of growth depends on additional working capital to buy raw materials, meet operating costs and fully use its stated 540-tonne daily production capacity.

The Observer also reported that Equity Bank executives, led by board chair Henry Rugamba and managing director Gift Shoko, recently visited the Jinja plant to review the company’s operations and discuss further growth. The example is presented as part of a wider challenge for Ugandan manufacturers: having production equipment is not enough without financing to keep output moving and sales growing.