KAMPALA, Uganda – Pearl Bank expanded its agribusiness loan book by 24% in 2025, positioning itself as a primary driver of the government’s Agriculture, Tourism, Minerals and Science and Technology growth strategy.
The portfolio growth, compared with 24% in 2024, resulted from increased lending to farmers, cooperatives, processors, traders and agricultural small enterprises. The expansion comes as the government intensifies its ATMS agenda, which prioritizes the commercialization of agriculture.
Agriculture remains Uganda’s largest employer, supporting more than 70% of the population. However, the sector faces restricted growth due to a lack of affordable credit for mechanization, irrigation and value-added processing.
By increasing its credit portfolio, Pearl Bank has shifted focus toward financing the entire agricultural value chain. Julius Akais, Pearl Bank’s supervisor for agriculture and partnerships, said the portfolio expansion directly addresses these financing gaps.
“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,” Akais said.
The bank’s 24% growth has been supported by its rural reach, which includes more than 11,500 agents across 1,935 subcounties and 6,150 parishes.
This rural infrastructure has enabled the bank to scale its participation in government-backed financing programs. According to the 2026-27 national budget speech, the state’s Agricultural Credit Facility has disbursed 1.35 trillion Ugandan shillings to more than 14,000 beneficiaries, while the Small Business Fund has extended over 82 billion shillings to 4,000 enterprises.
During his presentation of the 2025-26 budget, Henry Musasizi, minister of finance, planning and economic development, noted that the government allocated 371.1 billion shillings to the Agricultural Credit Facility for co-financing with participating commercial banks. The state also provides 41 billion shillings annually to subsidize interest payments for commercial farmers cultivating more than 50 acres of grain or animal feed.
Equator Seeds Ltd., a commercial recipient of Pearl Bank’s expanded lending, used its financing to buy foundation seed, build irrigation systems and expand farmer training programs. Company officials said the credit access raised production and boosted incomes for its network of farmers.
The bank’s targeted portfolio growth led to multiple industry accolades this year. The Bank of Uganda recognized Pearl Bank in April for its responsiveness in administering the Agricultural Credit Facility and Small Business Fund schemes, noting their alignment with the National Development Plan IV.
Earlier in the year, Aceli Africa named Pearl Bank Uganda’s Best Agri-SME Lender during an industry roundtable in Kampala.
The bank’s lending expansion coincides with renewed state funding for agricultural programs in the 2026-27 budget, which emphasizes the full monetization of Uganda’s economy through commercial farming and market access.
