Agriculture remains the backbone of Uganda’s economy, supporting the livelihoods of more than 70 percent of the population. However, limited access to affordable financing has continued to slow investment in critical areas such as mechanisation, irrigation, processing and value addition.
Pearl Bank is seeking to bridge this gap by expanding its focus beyond traditional farm lending to financing the entire agricultural value chain, supporting farmers, processors, traders and agribusinesses as Uganda moves towards commercial agriculture.
The bank’s approach aligns with government’s agenda of transforming agriculture from subsistence production into a commercially driven sector capable of serving local, regional and international markets.
One of the beneficiaries, Equator Seeds Limited, says financing from Pearl Bank enabled the company to acquire foundation seed, invest in irrigation and mechanisation, and expand farmer training programmes. The support helped increase production and improve incomes for both the company and the farmers it works with.
Industry observers say such interventions are essential if Uganda is to achieve its agricultural transformation targets, particularly the shift towards agro-industrialisation and increased household incomes.
With a network of more than 11,500 agents, operations across 1,935 sub-counties and presence in over 6,150 parishes, Pearl Bank has developed one of the country’s widest rural financial networks, giving it an opportunity to extend agricultural financing to more communities.
Government-backed financing programmes have also continued to support the sector. According to the 2026/27 Budget Speech, the Agricultural Credit Facility has so far provided Shs1.35 trillion to more than 14,000 beneficiaries, while the Small Business Fund has supported over 4,000 enterprises with more than Shs82 billion.
Government has also committed Shs41 billion annually to subsidise interest payments for large-scale commercial farmers cultivating more than 50 acres of grain and animal feed.
As one of the participating financial institutions in these programmes, Pearl Bank has become a key channel through which public financing reaches farmers and agribusinesses.
The bank’s contribution to agricultural financing was recently recognised by the Bank of Uganda, which honoured Pearl Bank for its outstanding partnership and responsiveness under the Agricultural Credit Facility and Small Business Fund schemes.
The recognition came shortly after the bank was named Uganda’s Best Agri-SME Lender by Aceli Africa during the Aceli Uganda Stakeholder Roundtable in Kampala.
The awards follow strong growth in Pearl Bank’s agriculture portfolio, with its agribusiness loan book increasing by 24 percent in 2025 compared to the previous year, driven by lending to farmers, cooperatives, processors, traders and agricultural small and medium enterprises.
Julius Akais, Pearl Bank Supervisor Agriculture and Partnerships, said the recognition reflects the bank’s commitment to addressing financing challenges across the agricultural value chain.
“The awards signify the contributions Pearl Bank has made to agricultural financing in Uganda and perfectly align with our purpose of fostering prosperity for Ugandans through sustainable financial inclusion and entrepreneurship,” Akais said.
Pearl Bank’s growing role in agricultural finance comes at a time when government continues to position agriculture as a key driver of economic growth under its strategy to increase production, value addition and commercialisation.
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