{"id":2959,"date":"2025-01-27T07:30:16","date_gmt":"2025-01-27T07:30:16","guid":{"rendered":"https:\/\/govinfohub.go.ug\/?p=2959"},"modified":"2025-01-27T07:37:33","modified_gmt":"2025-01-27T07:37:33","slug":"shs-176-billion-financing-scheme-for-private-large-scale-commercial-farmers-launched","status":"publish","type":"post","link":"https:\/\/govinfohub.go.ug\/index.php\/2025\/01\/27\/shs-176-billion-financing-scheme-for-private-large-scale-commercial-farmers-launched\/","title":{"rendered":"Shs 176 Billion Financing Scheme For Private Large-Scale Commercial Farmers Launched"},"content":{"rendered":"\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Matia_Kasaija\">Finance Minister Matia Kasaija<\/a> recently announced the launch of this new\u00a0financing\u00a0scheme for\u00a0private\u00a0large-scale\u00a0commercial\u00a0farmers, designed to provide timely, affordable, and accessible financial resources to farmers who are at the heart of our agricultural economy.<\/p>\n\n\n\n<p>This&nbsp;financing mechanism&nbsp;will&nbsp;support&nbsp;private&nbsp;large-scale&nbsp;commercial farmers to produce 132,600&nbsp;metric&nbsp;tons (MT) of maize,&nbsp;beans,&nbsp;soya beans,&nbsp;sorghum and animal feeds on a&nbsp;total proposed acreage of 114,661 acres.<\/p>\n\n\n\n<p>This will be implemented by having Government-owned&nbsp;financial&nbsp;institutions (Pride Microfinance, Post Bank and Housing Finance) provide a principal amount of Shs176&nbsp;billion, and&nbsp;the Government of Uganda (GoU)&nbsp;meeting the corresponding interest component of Shs&nbsp;40&nbsp;billion annually.<\/p>\n\n\n\n<p>Kasaija,&nbsp;while launching the scheme at Speke Resort Munyonyo,&nbsp;said&nbsp;farmers face a multitude of challenges&nbsp;\u2013&nbsp;ranging from unpredictable weather patterns and rising input costs, to limited access to technology and, most pressing of all, financial support.<\/p>\n\n\n\n<p>\u201cIn recent years, we\u2019ve seen how critical it is to support farmers with the right tools to thrive. Grain production is labour-intensive, requiring substantial investments in land preparation, seeds, fertilizers, irrigation, equipment, and more,\u201d said the Finance Minister.<\/p>\n\n\n\n<p>This&nbsp;scheme will initially run for a period of six years&nbsp;and the eligibility criteria&nbsp;take into account&nbsp;companies, cooperatives and other formal qualifying entities&nbsp;with available land or engaged in&nbsp;large-scale&nbsp;farming&nbsp;with a minimum of 50 acres of land.&nbsp;Loan disbursements have been structured to align&nbsp;with&nbsp;farming&nbsp;cyclesso that&nbsp;the resources can be received and&nbsp;utilized&nbsp;at the point they are most needed&nbsp;by the farmers.<\/p>\n\n\n\n<p>\u201cTo our farmers here today&nbsp;\u2013&nbsp;this is your opportunity to take your operations to the next level. With the right financial support, you can access better equipment, expand your land and improve your yields,\u201d said Kasaija.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-1024x683.jpeg\" alt=\"\" class=\"wp-image-2960\" srcset=\"https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-1024x683.jpeg 1024w, https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-300x200.jpeg 300w, https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-768x512.jpeg 768w, https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-1536x1024.jpeg 1536w, https:\/\/govinfohub.go.ug\/wp-content\/uploads\/2025\/01\/IMG_5931_0-2048x1365.jpeg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The&nbsp;Minister of&nbsp;Agriculture, Animal Industry and Fisheries,Frank Tumwebaze,&nbsp;thanked Government for responding to the needs of private large-scale farmers&nbsp;and strengthening the partnership between&nbsp;Government&nbsp;and farmers.<\/p>\n\n\n\n<p>Tumwebaze said the money was not for trading but real production, adding that his Ministry will share with all stakeholders the profiled large-scale farmers in all the districts of Uganda.<\/p>\n\n\n\n<p>Earlier in&nbsp;his&nbsp;welcome remarks,&nbsp;the Permanent Secretary and Secretary to the Treasury&nbsp;(PSST), Ramathan Ggoobi,said this launch marked&nbsp;a pivotal moment in&nbsp;Government\u2019scontinued efforts to empower farmers,&nbsp;enhance food and feed security, and drive sustainable agricultural growth in our nation.<\/p>\n\n\n\n<p>The PSST said this scheme will support&nbsp;Government\u2019s&nbsp;Tenfold&nbsp;Growth&nbsp;Strategy&nbsp;that aims to grow Uganda\u2019s&nbsp;gross domestic product (GDP)&nbsp;from about USD&nbsp;50&nbsp;billion in FY2022\/23 to USD&nbsp;500&nbsp;billion by 2040. Agro-industrialization, an anchor sector of the strategy, aims to commercialize and formalize farming,&nbsp;leading to a fivefold growth of agro-industrial exports with&nbsp;an&nbsp;estimated value of USD&nbsp;20&nbsp;billion.<\/p>\n\n\n\n<p>With the forthcoming transition to&nbsp;the Fourth National Development Plan (NDP IV),&nbsp;Ggoobi said the&nbsp;target is&nbsp;to&nbsp;increase&nbsp;the share of agricultural exports (maize, beans, soya beans and sorghum) from USD&nbsp;2.45&nbsp;billion (35%) in FY 2024\/25 to USD&nbsp;4.76&nbsp;billion (48%) in 2029\/30. Maize,&nbsp;also&nbsp;one of the commodities under this&nbsp;scheme,&nbsp;is expected to&nbsp;contribute USD&nbsp;335.3&nbsp;million.<\/p>\n\n\n\n<p>The launch was witnessed by the&nbsp;Managing Directors and Chief Executive Officers of the respective commercial&nbsp;banks,&nbsp;the&nbsp;Executive&nbsp;Director,&nbsp;the&nbsp;Grain Council&nbsp;of&nbsp;Uganda,&nbsp;and the&nbsp;President, Uganda National Farmers Federation,&nbsp;among others.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.finance.go.ug\/media-center\/news-and-updates\/shs-176-billion-financing-scheme-private-large-scale-commercial\">https:\/\/www.finance.go.ug\/media-center\/news-and-updates\/shs-176-billion-financing-scheme-private-large-scale-commercial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Matia Kasaija recently announced the launch of this new\u00a0financing\u00a0scheme for\u00a0private\u00a0large-scale\u00a0commercial\u00a0farmers, designed to provide timely, affordable, and accessible financial resources to farmers who are at the heart of our agricultural economy. This&nbsp;financing mechanism&nbsp;will&nbsp;support&nbsp;private&nbsp;large-scale&nbsp;commercial farmers to produce 132,600&nbsp;metric&nbsp;tons (MT) of maize,&nbsp;beans,&nbsp;soya beans,&nbsp;sorghum and animal feeds on a&nbsp;total proposed acreage of 114,661 acres. This will be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2962,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,3],"tags":[],"class_list":["post-2959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agriculture","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shs 176 Billion Financing Scheme For Private Large-Scale Commercial Farmers Launched - Published By UPPC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/govinfohub.go.ug\/index.php\/2025\/01\/27\/shs-176-billion-financing-scheme-for-private-large-scale-commercial-farmers-launched\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shs 176 Billion Financing Scheme For Private Large-Scale Commercial Farmers Launched - Published By UPPC\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Matia Kasaija recently announced the launch of this new\u00a0financing\u00a0scheme for\u00a0private\u00a0large-scale\u00a0commercial\u00a0farmers, designed to provide timely, affordable, and accessible financial resources to farmers who are at the heart of our agricultural economy. This&nbsp;financing mechanism&nbsp;will&nbsp;support&nbsp;private&nbsp;large-scale&nbsp;commercial farmers to produce 132,600&nbsp;metric&nbsp;tons (MT) of maize,&nbsp;beans,&nbsp;soya beans,&nbsp;sorghum and animal feeds on a&nbsp;total proposed acreage of 114,661 acres. 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