The government has been commended for its efforts in subsidizing interest payments for farmers, significantly enhancing financial support for agribusiness in Uganda.
Julius Akais, the Supervisor of Agriculture and Partnerships at Post Bank, indicated that this growth coincides with a broader initiative to promote food security, rural development, and commercial farming throughout the country.
He noted that reasonable interest rates provide farmers with the motivation to engage in agricultural production, thereby ensuring food security, boosting the country’s economic growth, and creating new job opportunities in rural communities. This initiative aligns with Post Bank’s mission of fostering prosperity for all Ugandans.
Agriculture employs approximately 70% of Uganda’s total population, and Akais emphasized that with proper financial support and skill development, the agricultural sector can remain the nation’s leading economic driver.
This positive trend comes in light of Post Bank’s recent announcement of a 24% growth in its agribusiness loan portfolio between 2023 and 2024, attributed to its competitive interest rates on agricultural loans.
By Charles Katabalwa
24th April 2025
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