Equity Bank Calls for 24-Hour Regional Payment System to Boost Industrial Growth

Equity Bank Uganda is calling for deeper integration of East Africa’s payment systems to make cross-border transactions faster and more responsive to the needs of businesses operating across the region.

The call was made by Equity Bank Uganda Executive Director Claver Serumaga while speaking at the 3rd Annual Regional Industrialisation Conference (RIC 2026) in Kampala, held under the theme “Unlocking Industrial Competitiveness through Innovation and Regional Value Chain Integration.”

Serumaga was speaking during a panel discussion on “Scaling Capital for Industrial Growth and Competitiveness,” where he highlighted the need for payment systems that allow businesses to transact across borders at any time.

“How do we expand the East African payment system and be able to facilitate payments to suppliers across the region instantly, any time of the day, so that we’re not working for only 8 or 10 hours a day?” Serumaga asked.

He said integrating payment systems between Uganda, Kenya and Tanzania could make it possible for businesses to settle supplier payments instantly, including outside conventional banking hours.

“Once Uganda is able to do that, we can link it with Tanzania and Kenya, and then we can be able to pay a supplier at 2 a.m.,” he said.

Serumaga also called for a shift in how banks finance industrial development, arguing that financial institutions should look beyond individual businesses and support interconnected ecosystems and value chains.

“How do we move away from financing one factory to financing ecosystems and value chains?” he asked, noting that although banks frequently talk about value-chain banking, there is a need to put the approach into practice.

“We must move from financing one small ecosystem to linking one value chain to another value chain,” Serumaga added.

His remarks come as East African economies seek to deepen regional trade and industrial integration, with efficient payment infrastructure and access to finance increasingly important to businesses participating in cross-border value chains.

RIC 2026 brings together industry leaders, policymakers and other stakeholders to explore ways of strengthening industrial competitiveness, innovation and regional value chains.