Mbarara, Uganda | THE INDEPENDENT | dfcu Bank has officially launched the dfcu Foundation in Mbarara district, a rebrand of the Agribusiness Development Centre (ADC) under the theme ‘’A New Name, A Renewed Commitment.’’
The launch reiterates the foundation’s commitment to supporting Uganda’s agricultural sector, an official said. “This strategic transition aims to widen impact, bringing dfcu Bank closer to farmers countrywide and facilitating access to financial resources, increased markets and capacity-building programs.”
Bank officials said that the decision to launch and rebrand from Agribusiness Development Centre (ADC) to dfcu Foundation arises from dfcu Bank’s purpose of ‘’Transforming Lives and Businesses in Uganda’’ and aims to create a more inclusive and structured approach to empowering agribusinesses, SMEs, and farmer groups.
While ADC majorly focused on agricultural value chains, dfcu Foundation will have a large mandate including financial literacy, business mentorship, access to credit and market linkages for farmers countrywide and agribusiness entrepreneurs.
Speaking at the launch, Kate K Kiiza, the executive director at dfcu Bank emphasized the foundation’s role in transforming Uganda’s agriculture sector:
She said, ’”The launch of dfcu Foundation marks a new era of empowerment for Ugandan farmers. Our goal is to ensure that every farmer, agribusiness owner, and rural entrepreneur has the knowledge, resources, and financial tools needed to succeed. We believe that by promoting agricultural growth, we strengthen Uganda’s economy and create long-term benefits and prosperity.”
She added, “While agribusiness remains at our core, the dfcu Foundation will also focus on enterprise development, financial literacy training, and sustainability initiatives. This rebrand strengthens our purpose and amplifies our impact, aligning with dfcu’s long-term strategy for national transformation. Additionally, through integrating financial empowerment, environmental governance, and enterprise development, we are strengthening our commitment to sustainable growth and economic progress’’.
Mabel Ndawula, the Executive Director of the dfcu Foundation speaks after a tour of a model farm with stakeholders that included farmers and bank customers.
Mabel Ndawula, the Executive Director of the dfcu Foundation, said, ‘’We are excited to launch dfcu Foundation; a strategic move designed to deepen our relationship with farmers and expand our impact. This transition is not a departure from our commitment to agribusiness but rather an opportunity to increase our reach and add to our contribution to national development.”
She added, ‘’At dfcu Foundation, our goal is to double the impact of past initiatives. Under the Agribusiness Development Centre, we already reached 59,000 beneficiaries, and over the next five years, we aim to impact 100,000 more. Of these, 60% will be women and 40% will be youth, with the focus given to Uganda’s youthful population, where approximately 77-78% are young people with high unemployment rates and limited job market absorption. dfcu sees farming and small business development as viable solutions for economic empowerment and job creation’’.
Agriculture remains Uganda’s largest employer, accounting for over 70% of the population and contributing 24% to the national GDP. The sector is a key driver of rural livelihoods, food security and national economic development. However, challenges such as limited access to credit, market volatility, and inadequate business skills continue to hinder farmers’ productivity and growth. The dfcu Foundation seeks to close these gaps through the provision of tailor-made solutions to accelerate agricultural growth and financial inclusion.
Through the Foundation, farmers and agribusinesses will benefit from access to credit, market linkages, training and capacity building, and technology-driven solutions.
The launch event in Mbarara brought together key stakeholders, including government representatives, farmer groups, financial and agribusiness experts.
The dfcu Foundation is set to roll out a series of engagement programs across Uganda, strengthening its commitment to empowering communities through sustainable agricultural development.
As of December 31st 2024, the Agribusiness Development Centre (ADC) had scored a record growth in empowering agribusiness enterprises and farmers across Uganda. Mabel Ndawula listed key achievements as:
- Supporting 1,281 enterprises through debt financing and capacity-building programs.
- Enabling 490 enterprises to benefit from acceleration programs designed to enhance growth and sustainability.
- Achieving a 52% women inclusion rate since 2018, promoting gender equality in agribusiness.
- Reaching a total of 59,000 beneficiaries, positively impacting the sector.
- Facilitating $22 million in business linkages, strengthening market access, and trade opportunities.
- Connecting over 5,000 enterprises to financial services, including credit and banking solutions, to drive business growth.
Source: The INDEPENDENT – https://www.independent.co.ug/a-new-chapter-dfcu-foundation-to-drive-inclusive-economic-empowerment-across-uganda/
