Andrew Kituka executive director Equity bank Uganda. A number of farmers have benefited from the NU-TEC project that was funded by the UK government to offer access to affordable financing for agribusinesses and farmers operating in Northern Uganda through Equity Bank.
According to Paul Kweheria, the Team Leader of NU-TEC Financial Services the number of farmers who have benefited from the project in the last three years since its inception has gone up and that these have got financing to a tune of shs 32 billion.
He says that over 161,500 individual farmers have been supported with improved access to climate information, markets, improved climate-resilient inputs and sources of financing and diversified livelihoods or income sources. Wieteke Daniels Mercy Corps program director Uganda. Kweheria adds that the project has not only helped to ensure resilience of farmers but has also seen an addition in new agribusiness products wells which has also seen Equity Bank expand its agricultural lending market.
Equity Bank’s Head of Retail Banking, Mr. George Kato said since agriculture remains a key sector in Uganda’s economy, the bank chose to invest in up-scaling smallholder and medium-holder farmers because they play a key role in the growth of the economy.