As 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 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 mechanization, irrigation, processing and value addition, the very investments required to commercialize 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 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 mechanization, 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, presence in 1,935 sub-counties and coverage in over 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 over Shs82 billion to more than 4,000 enterprises. 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 financial year budget, the Minister of Finance Planning and Economic Development, Henry Musasizi, mentioned that the government has invested Ushs. 371.1 billion in the Agricultural Credit Facility as co-financing with participating financial institutions, while the Large-Scale Commercial Financing Scheme will have access to a provision of Ushs. 41 billion for interest payment on behalf of large-scale farmers cultivating over 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 accelerate the shift from subsistence farming to commercially viable agricultural enterprises.
In April this year, Pearl Bank was recognized by Bank of Uganda for its outstanding partnership and responsiveness in the Agricultural Credit Facility and Small Business Fund Schemes, which have accelerated the growth of Uganda’s agricultural and business sectors in alignment with the National Development Plan IV and the Tenfold Growth Strategy.
BoU’s 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 government’s ATMS agenda and its 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 at 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 Agriculture & Partnerships, Julius Akais said the recognition reflected the bank’s commitment to addressing financing gaps across agricultural value chains.
“The awards signify the contributions Pearl Bank has made to agricultural financing in Uganda and perfectly align with our purpose of Fostering Prosperity for Ugandans, which is implemented 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 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, 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.
