Post Bank Uganda was named best financial institution in advancing agricultural financing in the country under the Agricultural Credit Facility (ACF) programme.
This was revealed during the awards ceremony for the best performing participating financial institutions under the ACF scheme.
The award ceremony was held at Kampala Sheraton Hotel on 30th May 2019.
According to award organisers (Bank of Uganda), the ceremony was intended to recognise the significant efforts that have been made by different financial institutions in the operationalisation, advancement and uptake of the ACF funds.
In addition, the awards were designed to recognise the efforts of best performers in achieving the scheme objectives while mobilising support and growth in agricultural lending.
The minister of Finance, Matia Kasaija applauded PostBank Uganda for taking the lead role in advancing agricultural financing to the people of Uganda.
Post Bank also emerged winner in the categories of: having the highest outreach to small borrowers as evidenced by the number of loans disturb used; having the highest national coverage in terms of the number of loans disbursed at March 31st 2019; having the highest absorption rate in terms of number if loans disbursed and in showing interest in the scheme as evidenced by the number of loans applications submitted to Bank of Uganda as at 31st March 2019.
Benon Rukundo the executive director Credit and Business growth at Post Bank said that the value of loans disbursed under the ACF scheme totals to Shs 26 billion.
He further noted that agriculture lending takes 25% of the bank’s loan portfolio.
This implies that the bank is focussing on consolidating as a preferred financial institution in agriculture lending.