Wakiso District – PostBank, which is rebranding to Pearl Bank, has announced a 13-year strategic partnership with the Agence Française de Développement (AFD), France’s public development bank, to support sustainable agricultural financing.
Formalized today at the bank’s Nansana Branch in Wakiso, AFD has extended €15 million (equivalent to UGX 60 billion) as a concessional line of credit, along with an additional €1 million (about UGX 4 billion) technical assistance grant to PostBank. This funding is designed to enable agricultural micro, small, and medium-sized enterprises (MSMEs), smallholder farmers, and SACCOs—with a specific focus on women- and youth-owned businesses—to participate in the agricultural value chain.
During the partnership announcement, PostBank Uganda Managing Director Julius Kakeeto highlighted the bank’s key role as a financing partner in Uganda’s agricultural transformation, particularly supporting rural communities, women-led farming groups, and informal farmer cooperatives.
Kakeeto said, “PostBank’s purpose is to foster prosperity for Ugandans, as demonstrated by the financing portfolio we extend across sectors that drive economic growth. Agriculture is one of these sectors, employing about 70% of Uganda’s population.”
He added, “As outlined in the National Development Plan IV (NDP IV), agriculture is a priority area earmarked for growth and agro-industrialization, given its role as an anchor sector employing the majority of Ugandans.”
Kakeeto further remarked, “Our partnership with the Agence Française de Développement reaffirms our commitment to creating an enabling environment that allows our people to fully engage in the agricultural value chain. This includes sector actors such as agro-input suppliers, mechanization dealers, irrigation solution providers, and regulatory institutions like the Bank of Uganda.”
The funding and partnership with AFD will enable PostBank to expand its climate-smart agricultural finance products and deepen financial inclusion in rural communities. The technical grant will enhance the bank’s capacity to provide affordable and sustainable financing to underserved groups.
Key objectives of the partnership include; Expanding financial access in the agricultural and rural sectors, Supporting the development of innovative financing solutions, Promoting gender equality through products tailored for women and youth, and Building capacity for local actors in sustainable, climate-resilient agriculture.
“I am thrilled to witness this partnership between Pearl Bank, a leading agricultural bank in Uganda, and AFD, an impact investment partner from Team France. Through this initiative, France is investing in Uganda’s farmers, cooperatives, and rural entrepreneurs—the driving forces behind the country’s agricultural sector,” said H.E. Virginie Leroy, Ambassador of France to Uganda.
Marc Trouyet, Country Director for AFD in Uganda, applauded the partnership, stating, “The Agence Française de Développement is proud to launch a long-term partnership with Pearl Bank. This collaboration aims to unlock new energy and investment across Uganda’s agribusiness sector from smallholder farmers and SACCOs to women and young people while driving the adaptation of agriculture to the realities of climate change.”
Last week, PostBank was awarded a prestigious sustainability certificate by the European Organization of Sustainable Development (EOSD). In June, it was recognized at the Bank of Uganda’s Agriculture Credit Facility (ACF) and Small Business Recovery Fund (SBRF) Awards, receiving 5 awards and 11 certificates. These accolades reflect the bank’s continued support for the agricultural sector through innovative approaches and inclusive lending, which serve as a catalyst for Uganda’s broader development agenda.
These recognitions underscore the bank’s commitment to championing sustainable initiatives in its operations, with its partnership with the Agence Française de Développement further solidifying this commitment.
