Bank partners with organisations to support farmers

Left to right: Dfcu Bank board chairman Jimmy Mugerwa, Rabobank Foundation executive director Pierre Van Hedel and Agribusiness Development Centre executive director Anja de Feijter pose with a dummy cheque worth $2.8m last week. PHOTO BY GODFREY LUGAAJU

What you need to know:

  • State minister for Cooperatives Fredrick Ngobi tasked dfcu and ADC to assist farmers to come together, do value addition and make saving groups as well as recognise capacity building as an important aspect in running their activities.
  • The Agribusiness Development Center (ADC) which started operations in October this year has skilled 44 farmer leaders from 20 farm based organisations from Lira, Dokolo, Kole, Alebtong and Oyam with skills in governance.

Kampala. More than 100 farmer groups dubbed Farmer Based Organisations (FBOs) countrywide that have the potential to contribute to the agricultural value chain are set to benefit from a $2.8m (Shs10.08b) fund.

The funds, which was obtained by Agribusiness Development Centre (ADC) from dfcu Bank and Rabobank Foundation in the Netherlands, according to ADC executive director Anja de Feijter, will improve their operations and ultimately become bankable.

“The ADC advisory team is pre-visting over 100 FBOs countrywide in 2017. Since October, 70 FBOs have been selected to receive the training skills in governance, financial management, financial literacy, marketing, risk assessment and so much more,” she said.

Anja added that with these skills, Farmer Based Operations will continue to grow their operations in ways that are of benefit to both them and the wider communities.

Speaking at the function last week, dfcu Bank board chairman Jimmy D. Mugerwa commended the efforts being taken by the FBOs to acquire finances through forming groups saying not even oil can deplete the value in agriculture.

“Dfcu Bank already provides tailor made products for the farmers and with the capacity building delivered through ADC the small holder farmers will be more eligible for financing from commercial banks. They will also be better placed to increase productivity and possibly embrace commercial farming which is more profitable at household and national level,” he said.

Mr Mugerwa added that Agriculture is the number one breadwinner for our country and there is need for our country and there is need for collective effort to support it.

State minister for Cooperatives Fredrick Ngobi tasked dfcu and ADC to assist farmers to come together, do value addition and make saving groups as well as recognise capacity building as an important aspect in running their activities.

The Agribusiness Development Center (ADC) which started operations in October this year has skilled 44 farmer leaders from 20 farm based organisations from Lira, Dokolo, Kole, Alebtong and Oyam with skills in governance.