Agricultural Business Initiative (aBi) unveiled its five-year business plan aimed at driving green, inclusive economic transformation and combating the climate crisis. The initiative includes the launch of two groundbreaking programmes, signaling a renewed commitment to accessible and inclusive funding for small-holder farmers.
The Green Agrifood System Programme (GRASP) under aBi Development Ltd and Accelerating Adoption of Green and Inclusive Finance (AAGIF) under aBi Finance Ltd were officially launched at Speke Resort Munyonyo.
Speaking at the launch, Moses Nyabila, the Chief Executive Officer of aBi Development Ltd, outlined the five-year programme’s investment of Ushs55.8 billion to support farmers and agribusinesses. He noted that the investment aims to build their capacity to adapt to climate change and sustain productive activities.
Over the strategic period from 2019 to 2023, aBi extended support to more than 50 private sector entities, reaching an impressive 790,000 farmers. This concerted effort resulted in 12,088 jobs and a staggering net income exceeding Ushs 138 billion.
Nyabila emphasized the alignment of GRASP with “The World We Share” initiative and the Uganda Country Strategic Framework 2023-2027, focusing on promoting inclusive green economic transformation.
Jan Sadek, the EU Ambassador to Uganda, expressed delight in strengthening jobs and incomes in agriculture through the ‘Team Europe Initiative.’ He commended aBi’s efforts and highlighted the importance of compliance with the EU Deforestation Regulation.
Mona Muguma-Ssebuliba, the Chief Executive Officer of aBi Finance Ltd, emphasized the significance of empowering youth, women, and refugees through the Accelerating Adoption of Green and Inclusive Finance programme. She highlighted aBi Finance’s interventions, which have created jobs, generated additional income, and impacted millions of farmers.
Felix Okoboi, the Board Chairperson of aBi Development & Finance, acknowledged the support from the Government of Uganda, the European Union, and the Royal Danish Embassy in promoting a private sector-driven, green, and inclusive Ugandan agriculture.
Hon. Frank Tumwebaze, the Minister of Agriculture, Animal Industry and Fisheries, represented by Dr. Henry Nakalaet Opolot, reiterated the government’s support for aBi’s initiatives, aligning with national priorities and policies.
Signe Winding Albjerg, Danish Ambassador to Uganda, highlighted the importance of supporting Uganda’s agriculture to increase productivity in response to climate change. She expressed Denmark’s commitment to supporting Ugandan agriculture in collaboration with the EU delegation.
Success and Transition
The launch of the two new programmes marked the closeout of the successful Uganda Programme for Sustainable and Inclusive Development of the Economy (UPSIDE) programme. UPSIDE supported over 200,000 farmers, 50% of whom are women, in achieving resilience to climate change through expanded and inclusive green agri-food systems.