Credit for Agriculture Development.Gracious Akandwanaho
Kabale University’s Faculty of Agriculture and Environmental Science was buzzing with excitement today 17th March 2023 as students and staff gathered for a special event on “Access to Credit: A Tool for Agriculture Development.” The guest speaker, Mr. Oho Walter, a banker with 15 years of experience at Centenary Bank, gave an inspiring talk about the importance of credit in developing Uganda’s agriculture sector.
Mr. Walter began his speech by highlighting the vast potential for agriculture in Uganda, stating that 80% of the country’s land can be used for cultivation. He went on to discuss the significant contributions of agriculture to the country’s GDP and total exports, emphasizing its importance to Uganda’s economic growth.
The guest speaker also spoke about the two types of credit available at Centenary Bank, which is designed to support the production and marketing of agricultural products. He also addressed the risks involved in agriculture and recommended taking out insurance to mitigate these risks.
Mr. Walter then outlined the requirements for obtaining credit from the bank, which included collateral security, guarantors, referees, and national identity cards. He mentioned that organizations can be given a maximum credit of 25 billion while individuals can be given a maximum of 7 billion.
During the Q&A session, students asked many questions about the presentation, showing a keen interest in the subject matter. Hon.Akamumpa Flavia, the GRC Female Non-Residents Representative Kabale University, gave a summary of what was said by the guest speaker, emphasizing the importance of discipline as a key factor for success.
One student gave a vote of thanks on behalf of the students, expressing gratitude for Mr. Walter’s enlightening talk. Staff members also thanked the guest speaker for his valuable contribution to the event.
In his closing remarks, Assoc Prof. Bamwerinde Mwetonde Wilson (Faculty Dean) , also reiterated the importance of networking and having references, adding that information is no longer power but potential power.
The event was a huge success, providing valuable insights into the role of credit in developing Uganda’s agriculture sector. It is hoped that the knowledge gained from this event will be used to drive growth and development in this important sector.