Sugarcane farmers in Busoga are set to benefit from improved access to mechanised farming following a new partnership between Meta Plant and Equipment Uganda and dfcu Bank aimed at easing tractor acquisition and boosting productivity.
Meta Plant and Equipment Uganda, the sole distributor of New Holland Agriculture tractors and related field implements in the country, officially unveiled the initiative during a mini exhibition held at Kakira Sugar Factory on Thursday.
The partnership, dubbed the dfcu–Meta Vehicle and Asset Financing Partnership, is designed to provide affordable financing solutions for farmers and agribusinesses, enabling them to acquire modern farm machinery and scale up production.
Speaking at the launch, dfcu Bank’s Chief Retail Banking Officer, Annet Kiconco, said the bank is prioritising agriculture as a key driver of economic growth and food security.
“One of the key sectors we are keen on is agriculture, and we are working hard to ensure that we take it to the next level,” Kiconco said. “We decided to invest in sugarcane growing because it is labour-intensive, and farmers can no longer rely on hand hoes if we are to achieve increased productivity.”
Under the arrangement, farmers will access tractor financing at an annual interest rate of 12 percent. Kiconco noted that the partnership also incorporates insurance coverage, in collaboration with ICEA Lion, to protect farmers against potential risks associated with the equipment.
Meta Plant and Equipment Uganda Marketing Executive, Dorcus Najjemba, explained that the financing model requires farmers to pay only 10 percent of the total cost upfront.
“We have different tractor models, including a 75-horsepower tractor valued at Shs106 million, but farmers will only need to pay about Shs16 million over three years, with payments structured twice per year in line with farming seasons,” Najjemba said.
She added that the tractors are highly efficient, capable of handling up to 12 acres per day across various activities such as ploughing, planting, cultivating, and harvesting.
In addition to tractors, the package includes essential farm implements such as trailers for transporting produce, harrows, planters, and disc ploughs.
The Chairperson of the Busoga Sugarcane Farmers Association, Christopher Mwombwe, welcomed the initiative, describing it as a major step toward modernising sugarcane farming in the region.
“This is a big game changer,” Mwombwe said. “Research shows that for better yields in sugarcane growing, the roots should go about 12 inches deep, which is difficult to achieve using hand hoes. Mechanisation is the only way forward.”
He emphasised that sugarcane farming is capital-intensive and requires timely operations to meet the growing demand from sugar factories in the region.
“Our factories have high crushing capacity, so we must ensure consistent supply of cane. We cannot achieve this without mechanisation,” he added.
The partnership is expected to significantly improve efficiency among over 13,000 outgrowers in Busoga, strengthen the agricultural value chain, and support increased production to sustain the region’s sugar industry.
