As the government intensifies implementation of its ATMS agenda—Agriculture, Tourism, Minerals, and Science & Technology—with a strong emphasis on commercialising agriculture, Pearl Bank is increasingly emerging as one of the financial institutions helping to translate that vision into reality.
Agriculture remains Uganda’s largest employer, supporting the livelihoods of more than 70 percent of the population. However, limited access to affordable credit continues to constrain investment in mechanisation, irrigation, processing, and value addition—the very investments required to commercialise the sector and increase rural incomes.
Pearl Bank has increasingly focused on financing the entire agricultural value chain rather than primary production alone, aligning closely with the government’s objective of building competitive agricultural enterprises capable of supplying domestic, regional, and international markets.
One beneficiary, Equator Seeds Limited, says financing from the bank enabled it to purchase foundation seed, invest in irrigation and mechanisation, and expand farmer training programmes. The resulting increase in production improved incomes for both the company and the farmers it serves.
Industry analysts say such interventions are critical if Uganda is to achieve the objectives outlined in the national budget, particularly the transition from subsistence farming to commercial agriculture, agro-industrialisation, and broader economic monetisation.
With more than 11,500 agents, a presence in 1,935 sub-counties, and coverage across more than 6,150 parishes nationwide, Pearl Bank has built one of the country’s deepest rural financial networks, positioning it to support agricultural transformation at scale.
According to the 2026/27 Budget Speech, the Agricultural Credit Facility has cumulatively disbursed Shs1.35 trillion to more than 14,000 beneficiaries, while the Small Business Fund has extended more than Shs82 billion to over 4,000 enterprises. The government has also committed Shs41 billion annually to support interest payments for large-scale commercial farmers cultivating more than 50 acres of grain and animal feed.
While presenting the 2025/26 national budget, the Minister of Finance, Planning and Economic Development, Henry Musasizi, said the government had invested Ushs371.1 billion in the Agricultural Credit Facility as co-financing with participating financial institutions. He added that the Large-Scale Commercial Financing Scheme would have access to Ushs41 billion to cover interest payments on behalf of large-scale farmers cultivating more than 50 acres of grain and animal feed.
As one of the participating financial institutions in several government-backed financing schemes, Pearl Bank has become an important channel through which government resources are reaching farmers and agribusinesses, helping to accelerate the shift from subsistence farming to commercially viable agricultural enterprises.
In April this year, Pearl Bank was recognised by the Bank of Uganda for its outstanding partnership and responsiveness in implementing the Agricultural Credit Facility and Small Business Fund schemes, which have accelerated the growth of Uganda’s agricultural and business sectors in line with the National Development Plan IV and the Tenfold Growth Strategy.
The recognition reinforces the bank’s growing reputation not only as one of the country’s leading financiers of agriculture but also as a strategic partner in advancing the government’s ATMS agenda and broader vision of transforming agriculture into a commercially driven engine of economic growth.
Pearl Bank’s award follows another major accolade earlier this year when it was named Uganda’s Best Agri-SME Lender by Aceli Africa during the Aceli Uganda Stakeholder Roundtable in Kampala.
The twin recognitions come on the back of strong growth in the bank’s agricultural portfolio. Pearl Bank reported a 24 percent increase in its agribusiness loan book in 2025 compared to 2024, driven by increased lending to farmers, cooperatives, processors, traders, and agricultural SMEs.
Speaking after receiving the Aceli Africa award, Pearl Bank Supervisor for Agriculture and Partnerships, Julius Akais, said the recognition reflected the bank’s commitment to addressing financing gaps across agricultural value chains.
“The awards signify the contribution Pearl Bank has made to agricultural financing in Uganda and perfectly align with our purpose of fostering prosperity for Ugandans, which we pursue through our two high-impact goals of driving sustainable financial inclusion and stimulating entrepreneurship and enterprise,” Akais said.
Pearl Bank’s recognition comes at a time when the government is placing agriculture at the centre of its strategy to transform Uganda into a middle-income economy. In the recently unveiled 2026/27 Budget, the government reaffirmed its commitment to the “full monetisation of Uganda’s economy through commercial agriculture, industrialisation, digital transformation and market access,” while expanding funding for agricultural finance programmes.
