Agricultural entrepreneurs have been urged to take advantage of the growing financing opportunities available to expand their businesses, improve productivity and contribute to the country's long-term economic transformation.
The call was made at the close of a three-day Agri-SME Bootcamp organised by Pearl Bank in partnership with Ronalds in Africa, where more than 30 agribusinesses from across the country received training in business growth, corporate governance, financial management and investment readiness.
Speaking during the closing ceremony at Skyz Hotel in Naguru, Pearl Bank Regional Head for Greater Kampala Martin Lukyamuzi said agriculture remains one of Uganda's most important economic sectors, employing more than 70 per cent of the population directly or indirectly.
He said the sector is a key pillar of the government's ATMS strategy—Agro-industrialisation, Tourism, Mineral Development and Science, Technology and Innovation—which seeks to grow Uganda's economy from US$50 billion to US$500 billion by 2040.
Lukyamuzi said the bootcamp was designed to equip agribusinesses with practical skills that would enable them to access financing and expand their operations sustainably.
"We are confident that with the right financing and implementation of the knowledge acquired during this bootcamp, these entrepreneurs will make a tangible impact while complementing government's efforts to grow the economy," he said.
Throughout the training, participants received guidance on strengthening business systems, improving governance structures, becoming investment-ready and positioning themselves to secure larger financing facilities from financial institutions.
GRO Foundation Chief Executive Officer Laban Musinguzi challenged farmers to move beyond primary production by adding value to their agricultural products.
He said understanding market demand and targeting both local and regional export markets would enable Ugandan farmers to unlock greater value and improve their competitiveness.
One of the success stories shared during the bootcamp came from Upendo Malikia, Managing Director of Machame Farm, who explained how the business expanded from 40 acres to 1,300 acres through mechanisation, sound record-keeping, strategic partnerships and access to financing from Pearl Bank.
She said the farm's growth has increased production, created employment opportunities and contributed to socio-economic transformation in Nwoya District.
Pearl Bank reaffirmed its commitment to supporting entrepreneurs through accessible financial products and services that promote financial inclusion, food security, job creation and regional trade.
As Uganda pursues agro-industrialisation as a key driver of economic growth, initiatives such as the Agri-SME Bootcamp are expected to strengthen the capacity of farmers and agribusinesses to attract investment, expand operations and play a greater role in transforming the country's agricultural sector.
