COVID-19 and access to agricultural finance in Uganda
During August and September, Wellspring Development Capital and Sofala Partners conducted a “rapid diagnostic” on the impact of COVID-19 on agricultural finance in Uganda, on behalf of Financial Sector Deepening Uganda (FSDU). We consulted more than 85 experts and practitioners across the country, from those involved in farming and agro-processing, to traders and exporters, commercial banks, NBFIs, SACCOs, regulators, development partners, and more. We would like to express our sincere thanks to those who took the time to share insights with us.
In a fast-changing landscape for agricultural markets and financial flows, the highlights presented below cannot – should not – claim to be the last word. But we hope these findings prove useful to industry participants and development practitioners alike, provoking discussion and informing decision-making as Uganda bounces back robustly from the ‘lockdown economy’ by targeting agriculture as the key engine of job creation, value addition and export-led growth.