Wakiso —PostBank Uganda, soon to be Pearl Bank, has entered into a landmark 13-year strategic partnership with Agence Française de Développement (AFD), France’s public development bank, to expand sustainable agricultural financing across Uganda.
The partnership, unveiled at the Bank’s Nansana Branch in Wakiso on October 2, will see AFD extend a €15 million (UGX 60 billion) concessional line of credit and an additional €1 million (UGX 4 billion) technical assistance grant. The facility is tailored to support agricultural micro, small, and medium-sized enterprises (MSMEs), smallholder farmers, SACCOs, and, critically, women- and youth-owned agribusinesses.
PostBank Uganda Managing Director Julius Kakeeto said the collaboration reflects the Bank’s core purpose of “Fostering Prosperity for Ugandans” by deepening agricultural finance and advancing rural development.
“PostBank continues to play a key role as a financing partner in Uganda’s agricultural transformation, especially in supporting rural communities, women-led farming groups, and informal farmer cooperatives,” Kakeeto said. “This partnership with AFD reaffirms our commitment to creating an enabling environment for our people to participate in the agriculture value chain — from agro-input suppliers and irrigation providers to farmer cooperatives and regulatory institutions.”
Uganda’s agriculture sector employs nearly 70% of the population, and agro-industrialisation has been identified in the National Development Plan IV as one of the key pillars for economic transformation. Kakeeto emphasised that the AFD-backed credit line will enable Pearl Bank to scale up climate-smart agriculture finance and empower communities with access to affordable, sustainable financial solutions.
The partnership focuses on four strategic objectives: expanding financial access in agriculture and rural communities, developing innovative and climate-resilient financing solutions, promoting gender equality through tailored products for women and youth and building capacity for local actors in sustainable agribusiness.
French Ambassador to Uganda, H.E. Virginie Leroy, praised the initiative: “Through this partnership, France is investing in Uganda’s farmers, cooperatives, and rural entrepreneurs — the driving forces of the country’s agricultural sector.”
Marc Trouyet, AFD’s Country Director in Uganda, added: “This collaboration aims to unlock new energy and investment across Uganda’s agribusiness sector — from smallholder farmers and SACCOs to women and youth — while helping agriculture adapt to the realities of climate change.”
The announcement comes on the heels of PostBank’s recognition at the Bank of Uganda’s Agriculture Credit Facility (ACF) and Small Business Recovery Fund (SBRF) Awards, where it won five awards, and the Bank’s recent receipt of a Sustainability Certificate from the European Organisation of Sustainable Development (EOSD).
PostBank, fully owned by the Government of Uganda, is currently rebranding to Pearl Bank as it strengthens its positioning as a partner for inclusive and sustainable growth. With 57 branches and over 7,000 agents countrywide, Pearl Bank is set to leverage this new partnership to deliver inclusive finance solutions that drive Uganda’s agricultural transformation.