dfcu Bank has expanded its agricultural operations through a rebranded foundation and dedicated segment, as Uganda’s farming sector continues to grapple with financing gaps and post-harvest losses.
The bank’s Agriculture Segment, alongside the newly rebranded dfcu Foundation, formerly the Agribusiness Development Centre has trained over 27,000 farmers and worked with 885 enterprises across the country. The foundation reports that 54% of supported businesses are women-led, with more than 40,000 Ugandans receiving direct benefits.
“Agriculture is the soul of Uganda’s economic resilience. Our role is to empower farmers, cooperatives, and agribusinesses with the tools, skills, and financing they need to thrive,” said Alex Madolo, Head of Agriculture at dfcu Bank. “We see farmers not just as clients, but as partners in national transformation.”
Despite these interventions, significant obstacles remain in a sector that employs 70% of Uganda’s population. Post-harvest losses continue to reach 40% of produce, while climate shocks and limited access to finance constrain growth for smallholder farmers.
According to the bank’s 2024 Annual Report, dfcu disbursed UGX 11.2 billion specifically for women entrepreneurs in agriculture last year. The foundation has facilitated 2,112 agribusiness jobs and indirectly impacted an additional 100,000 people through market access improvements.
The bank has identified three focus areas: digital agriculture finance through mobile platforms, youth engagement in agribusiness, and expanding women’s access to agricultural financing. These initiatives represent dfcu’s response to persistent challenges in a sector that remains central to Uganda’s economy.
“We are innovating around these challenges designing seasonal loan products, promoting group lending, and partnering with insurers to protect farmers against climate risks,” Madolo explained. “When farmers grow, Uganda grows. No farmer should be left behind.”
The transition from the Agribusiness Development Centre to the dfcu Foundation signals the bank’s continued investment in agricultural development, as the 61-year-old institution seeks to balance commercial banking operations with development objectives in Uganda’s primary economic sector.
Source: The CEO – https://chimpreports.com/dfcu-bank-targets-agricultural-finance-as-sector-faces-persistent-challenges/
