Laban Joshua Musinguzi the co-founder and ED Agrofresh Ltd who doubles as the President of the Youth Coalition for SDGs said that over 300 youths farmers are ready for capacity building in commercial agriculture.
Last year, Agrofresh launched the farmers’ digital Database, which Musinguzi said has grown, as more youth join the platform.
He said these are very ready and the only thing remaining is sensitization and capacity building.
“On our Farmers Online DataBase, we have over 300 youths who are ready for capacity building, and all other help,” he said.
Laban made these remarks while speaking to Journalists, ahead of the upcoming 1st National Empowerment and Development in Commercial Agriculture Conference in Kampala.
The conference will take place between December 8 and 10 in Kampala and will bring together different farmers and their supporters
Musinguzi rallied more youth to attend the conference since it will guide them on how to access the finances which are readily available.
“This money is here for us, remember we youths make up 75% of the population, and yet the money is there no collateral needed, free seeds and the only thing you need to have the island,” he said
According to Phiona Naigaga, the Credit Analyst at the Bank of Uganda (BoU), a total of Shs670Bn has so far been given to over 500 farmers through the Agriculture Credit Facility (ACF),
ACF is a loan scheme that was set up by the government in partnership with Commercial Banks, Uganda Development Bank Ltd (UDBL), Micro Deposit Taking Institutions (MDIs), and Credit institutions in 2009.
The Scheme aimed at facilitating the provision of medium and long-term financing to projects engaged in Agriculture and Agro-processing, focusing mainly on commercialization and value addition.
The March 2021 ACF Report revealed that 300 businesses had benefited from Shs4.71Bn in one year, each getting financing not exceeding Shs20m.
The Report further revealed that a total loan Portfolio had grown by Shs8.2Bn from Shs581.2Bn in December 2020 to Shs589.4Bn in March 2021.
Naigaga’s statements literally show that the loan fund has increased by Shs80Bn in one ad a half years.
Naigga said the government through the Bank of Uganda is ready to support farmers solve their farming challenges through this fund.
“We encourage farmers outside there to apply for these funds through commercial banks, and should they get challenges, we are ready to help them,”
She noted that the loans are highly being taken by the on-farm activities, by small and medium enterprises who make up 60%.
Others were grain facilities and agricultural value addition.
“For those getting problems in accessing these loans through commercial banks, we are not Bosses of these banks but rather our partners just reach out to us for any hardship because either bank do not know what to or else otherwise,” she said
Lawrence Totimeh, the Head of Business and Service Delivery at Yo-Ugandw Ltd said that close to one million farmers are on their platform.
“When farmers are together, it’s easier to find solutions for their challenges like marketing and easy mobilization among others.
