The Deputy Governor of the Bank of Uganda, represented by Hannington Wasswa, has recognized financial institutions for their responsiveness in supporting government credit programmes aimed at boosting economic growth.
During a workshop held to strengthen the implementation of the Agricultural Credit Facility (ACF) and the Small Business Fund (SBF), teams from Pearl Bank Uganda and Opportunity Bank Uganda were awarded for their prompt handling of customer applications under the schemes.
The workshop brought together participating financial institutions to assess progress and address challenges in delivering affordable credit, particularly to farmers and small businesses.
As of March 2026, a total of 13,000 borrowers had accessed UGX 1.4 trillion under ACF, while 3,260 borrowers benefited from UGX 70 billion through SBF, reflecting the growing uptake of the facilities.
However, the Deputy Governor raised concern over increasing public complaints that some banks are discouraging potential borrowers, warning that such practices undermine financial inclusion and limit access to economic opportunities.
He emphasized that continued engagement with financial institutions is key to ensuring that financing remains accessible and affordable, especially for sectors that drive Uganda’s economy, including agriculture and small and medium enterprises.
