Stanbic Bank, Agriculture Ministry to Fast-Track Uganda’s Agro-Industrialization agenda

In a move to accelerate Uganda’s transition from subsistence agriculture to a modern, industrialized agro-economy, Stanbic Bank Uganda, in partnership with the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), hosted the inaugural Consumer Convention 2025 in Kampala under the theme “Accelerating the Momentum of Agro-Industrialization.”

The high-level forum attracted stakeholders from government, agribusiness, financial services, and the development community to discuss scalable solutions for transforming Uganda’s agricultural sector into a driver of jobs, investment, and economic growth.

State Minister for Agriculture Bright Rwamirama commended Stanbic’s approach, calling it a powerful example of private sector alignment with national priorities under National Development Plan IV (NDPIV).

“Such partnerships demonstrate what’s possible when capital, innovation, and policy converge to address systemic challenges. We must translate today’s dialogue into real investment, job creation, and export growth,” Rwamirama said.

Speaking at the event, Stanbic Bank Board Chairman Damoni Kitabire reaffirmed the bank’s commitment to inclusive economic transformation by placing women, youth, and farmers at the center of its development agenda.

“Uganda’s future rests in unlocking the productivity of its people particularly those historically underserved by the financial system,” Kitabire said. “That’s why we are scaling up impact-driven programmes that empower women entrepreneurs, youth-led agribusinesses, and smallholder farmers with access to finance, digital tools, market linkages, and business training.”

Kitabire added, “as the country’s largest commercial bank, we see it as our duty to be a catalyst for inclusive national transformation. Agriculture when combined with industrial value addition, innovation, and sustainable finance can be the engine that drives widespread economic growth.”

Under-leveraged sector

In 2024, Stanbic extended UGX 450 billion in financing to players across the agricultural value chain from production and aggregation to processing and export underscoring the bank’s role as a lead financier of Uganda’s agricultural transformation.

Paul Muganwa, Executive Director and Head of Corporate and Investment Banking, emphasized that agro-industrialization is more than a policy goal it’s an urgent economic imperative.

“To truly transform agriculture, we must build ecosystems that deliver value from the farm to regional and international markets. That means investing in processing, packaging, logistics, and export readiness,” Muganwa said.

He noted that while agriculture supports over 70% of Uganda’s workforce and contributes 24% of GDP, it remains under-leveraged, with only 35% of arable land in productive use and minimal tax contribution. “These figures tell a story of untapped opportunity. We must act now to unlock it,” he added.

Purposeful coordination

Tunde Thorpe, Acting Executive Head of Business and Commercial Banking at Stanbic Bank Uganda, highlighted the urgent need for coordination, capital, and capacity to unlock Uganda’s agro-industrial potential.

“Uganda’s agricultural sector is rich with promise but it will take purposeful coordination, targeted investment, and strong partnerships to transform that potential into lasting progress,” Thorpe said.

“At Stanbic, we are delivering sector-specific solutions from working capital and asset finance to trade, insurance, and digital platforms to meet the evolving needs of agribusinesses, cooperatives, processors, and exporters. We do this because we believe deeply in our purpose Uganda is our home. We drive her growth.”

Tunde emphasized the importance of translating dialogue into execution, urging stakeholders to move from promise to productivity.