Diamond Trust Bank (DTB), a leading commercial bank in Uganda has reaffirmed its commitment to support Uganda’s agricultural sector, through its partnership with the Uganda Tea Association (UTA).
DTB Partners with Uganda Tea Association to Drive Global Competitiveness and Value Addition
During the three-day members’ retreat held in Fort Portal, themed around strengthening collaboration and strategic growth, the gathering brought together major growers, producers, and exporters to position Uganda’s tea as a dominant force in the global market.
Uganda currently stands as Africa’s second-largest tea producer and exporter, contributing significantly to the national economy. The sector produces over 80,000 metric tonnes annually, generating approximately USD 80 million in export earnings while supporting the livelihoods of over 60,000 smallholder farmers.
Speaking at the opening of the retreat, Kyambadde Kaziro, Head of Corporate Institute & Business Banking at DTB Uganda emphasized the bank’s role as a strategic enabler for the tea commercial journey.
“At Diamond Trust Bank, we recognize that the journey to global competitiveness requires more than just resilience, it requires strategic capital. We are committed to providing the financial tools, from Asset Financing for modern irrigation and machinery to Trade Finance solutions like invoice discounting, that allow our tea stakeholders to innovate and lead in the global market.”
Kyambadde further noted that for the tea industry to continue thriving, growers, buyers, and processors must actively engage with financial institutions like DTB, which provide tailored solutions such as agricultural and business loans. These facilities can support the purchase of farm equipment, construction of storage facilities, payment of workers, and savings mobilization.
“We believe the future of this industry is brighter through strong partnerships with financial enablers like DTB. Through our collaboration, we offer solutions such as agricultural and business loans to acquire machinery, pay workers, and facilitate seasonal expenses, ensuring sustained growth both locally and globally,” Kyambadde said.
The retreat comes at a critical time as the industry seeks to navigate price fluctuations and enhance value addition to increase Uganda’s share of the global market. The Uganda Tea Association, representing the interests of large-scale plantations and smallholder farmers alike, welcomed the bank’s specialized focus on agricultural financing.
Mr. Onesimus Matsiko, Chairperson of the Uganda Tea Outgrowers Association (UTOA), noted the importance of such partnerships in stabilizing the sector.
“The tea industry is the backbone of many rural economies in Uganda, yet our farmers often face hurdles in accessing the credit needed for modernization. Partnerships with institutions like DTB are essential to ensure our 60,000 smallholders can transition from raw production to high-value processing, securing the future of Ugandan tea for generations to come,” Matsiko said.
The three-day retreat focused on strategic plans to double current production results through inclusive and sustainable growth models.
Diamond Trust Bank Uganda – DTB is an affiliate of the Diamond Trust Bank Group, a member of the Aga Khan Development Network. DTB operates in Kenya, Tanzania, and Uganda. The bank has a network of over 300 branches in the region and 36 branches in Uganda, supported by 54 ATMs, over 1000 Agent banking locations and 900 POS merchants.