Equity Bank Appreciates Church of Uganda Partnership: Land Title Return in Significant Occurrence
August 21, 2024, Kampala: The Church of Uganda achieved a major milestone on Tuesday when it successfully repaid Equity Bank Uganda for the loan that was utilized to build the 14-story commercial structure in the center of Kampala, resulting in the return of the land title for the Janani Luwum Church House.
All 39 bishops and more than 200 representatives from church dioceses attended the ceremony, which took place on the eve of the Provincial Assembly at Uganda Christian University in Mukono. It was more than just a formal handover; it was a celebration of the Church and Equity Bank’s thriving partnership.
The adventure started 14 years ago when the Church of Uganda approached Equity Bank for a loan for USD 17 million (UGX65 billion), hoping to broaden its revenue base and boost its ability to fund various social and religious activities. The 14-story commercial building was to be built with the monies, and this ambitious project was strategically significant for the church’s long-term viability.
The Most Rev. Stephen Kaziimba Mugalu, the Archbishop of the Church of Uganda, thanked the bank profusely for their steadfast support of the project during the handover ceremony.
“We set out on this adventure with faith, confident that this collaboration will not only help us accomplish our objectives but also provide us the ability to carry on with our mission of helping our communities. Archbishop Kaziimba remarked, “We are incredibly proud to be here today, having met our financial commitments, and we appreciate Equity Bank for sharing our vision.”
He continued by highlighting the commercial building’s success and pointing out that it will bring in a sizable amount of money for the church, which will be used to fund a number of community and church-led projects around Uganda.
Elizabeth Mwerinde Kasedde, the Executive Director of Equity Bank, emphasized during her speech at the ceremony the bank’s dedication to funding development initiatives that benefit society.
“Today is evidence of what can be accomplished when institutions work together and with trust.” The Church of Uganda has proven to be a dependable collaborator, and we feel privileged to have contributed to this noteworthy accomplishment. The church’s commitment to its goal and sound financial management is demonstrated by the loan’s smooth completion and payback, according to Ms. Mwerinde.
She also alluded to current and upcoming partnerships, stating that the bank is now supporting a number of other church-led initiatives targeted at enhancing social services, healthcare, and education in underprivileged communities.
“The Church of Uganda has consistently led the way in societal advancement, and we are honored to sustain our support of their endeavors.” Our collaboration aims to improve lives, communities, and the future for all Ugandans; it is about more than just business dealings, she continued.
A good collaboration between a financial institution and the Church is exemplified by the connection between the Church of Uganda and Equity Bank, wherein both parties strive towards shared objectives of development and expansion. The transfer of the property title is the end of just one chapter in a larger story of cooperation that is still thriving.
Now wholly owned by the Church of Uganda, the 14-story structure serves as a shining example of what is possible when faith, teamwork, and vision are combined. According to Mwerinde, it is a representation of the church’s unwavering dedication to self-sufficiency and volunteerism, which is made possible by a solid and reliable partnership with Equity Bank.
