Stanbic Bank Uganda has entered into a strategic partnership with the Buganda Cultural and Development Foundation (BUCADEF), the socio-economic arm of the Buganda Kingdom, to support and transform agricultural livelihoods in the region under the ambits of ‘Mwanyi Terimba’ initiative.
The collaboration was formalized at a signing ceremony held at Bulange, Mengo, marking a significant milestone in efforts to strengthen coffee farming and bolster economic resilience among farming communities.
Central to this initiative is the establishment of Ssemaduuka Wobwakabaka Bwa Buganda, a comprehensive, one-stop agricultural centre that will serve as a hub for inputs, advisory services, mechanization, and tailored financing solutions for farmers and Savings and Credit Cooperative Organizations (SACCOs) across the Buganda region.
Speaking at the event, Paul Muganwa, Stanbic Bank’s Executive Director and Head of Corporate Investment Banking, underscored the bank’s commitment to partnerships that catalyse socio-economic transformation, particularly for women, youth, and farmers.
“Our purpose goes beyond banking,” Muganwa said. “We are actively engaged in initiatives that drive Uganda’s social economic progress and this partnership aligns perfectly with our approach to empower communities and ensure no one is left behind.”
He further revealed that in 2024, Stanbic invested over UGX 454 billion into Uganda’s agricultural sector, including UGX 170 billion in direct support to SACCOs to drive access to affordable credit to smallholder farmers.
Through its Economic Enterprise Restart Fund (EERF), the bank has enabled thousands of smallholder farmers to rebuild post-pandemic, offering affordable credit and capacity-building resources.
“With interest rates as low as 10% for agricultural loans and 12.5% for other sectors, our EERF has reached nearly 7,000 SACCOs, positively impacting more than 2.6 million Ugandans. Today’s partnership reflects our inclusive agenda for socio-economic transformation,” Muganwa added.
In a symbolic gesture, Muganwa also extended birthday wishes to Kabaka Ronald Muwenda Mutebi II, hailing the collaboration as a timely tribute to the Kabaka’s leadership as he marks his 70th birthday.
The signing ceremony brought together a diverse array of stakeholders, including farmer groups such as Myanzi Coffee Farmers, Kibuuye Coffee Growers, and the Masaka Youth Coffee Production Group, all of whom expressed optimism about the transformative potential of the initiative.
Owek. Hajji Twaha Kaawaase Kigongo, First Deputy Prime Minister of Buganda, welcomed Stanbic Bank’s commitment, citing strong alignment with the Kingdom’s broader development goals of eradicating poverty, disease, and illiteracy.
“Seventy percent of Uganda’s economic activities take place within Buganda,” he said. “This partnership is not only timely, but also strategic. We call upon the people of Buganda to leverage Stanbic’s robust network and services now available more widely across the Kingdom.”
Inside the partnership
The agreement outlines several key deliverables designed to uplift the agricultural sector and strengthen farmer capacity. Stanbic Bank will establish agricultural one-stop centers in each of Buganda’s counties, ensuring that farmers have localized access to the tools and resources they need. These centers will offer affordable, collateral-free financing tailored to the agricultural cycle, with repayment schedules aligned to harvest seasons.
In addition, free financial literacy training will be rolled out for all participating farmer groups. As part of the bank’s broader push for digital inclusion, beneficiaries will be integrated into FlexiPay, Stanbic’s secure digital platform, to streamline transactions and promote transparency.
The initial rollout of the initiative will focus on Buddu, Buwekula, and Mawokota counties, with plans to address persistent barriers to quality inputs, irrigation systems, and mechanized farming tools, including tractors.
Emmanuel Naigombe, Head of Agribusiness at Stanbic Bank, emphasized the practical nature of the initiative: “We recognize the challenges farmers face every day. Our goal is to bring the support they need closer to home and make it financially manageable. With the right tools and support, farmers can thrive—and so will Uganda.”
This partnership signals a shared vision between one of Uganda’s leading financial institutions and its most influential cultural institution—a powerful alliance that promises to reshape the future of agriculture in the region.
