Officials from the financial and agricultural sectors gather during the stakeholders’ engagement meeting at Serena Hotel, Kampala, to discuss the acceleration of green and inclusive finance initiatives in Uganda
KAMPALA, Uganda (November 7, 2024) – aBi Finance is calling for increased partnerships with financial institutions to drive green and inclusive finance in Uganda, with a particular focus on supporting agribusinesses and smallholder farmers. The call was made during a key stakeholders’ engagement event at the Serena Hotel in Kampala on Thursday, which brought together financial and agricultural sector leaders.
The event, themed “Accelerating Adoption of Green Inclusive Finance for Climate Change Adaptation, Mitigation and Biodiversity Conservation,” aimed to address the growing need for financial solutions that help mitigate the effects of climate change and support biodiversity in Uganda. aBi Finance, a major player in agricultural finance, emphasized the role of financial institutions in helping smallholder farmers adapt to climate change and promote sustainable farming practices.
“We need more partnerships with financial institutions committed to serving underserved areas, especially northern and eastern Uganda, where access to finance remains limited,” said Mona Muguma Ssebuliba, CEO of aBi Finance. “We also want to ensure that women, youth, and refugees are included in these efforts. These are the groups most affected by climate change and in need of targeted financial support.”
The event also showcased aBi Finance’s achievements since the launch of its 2024-2028 business plan, which focuses on increasing green and inclusive finance. Since its launch, the company has seen a significant expansion in its green finance portfolio, which now totals UGX 37 billion, accounting for 16% of its overall portfolio.
Ssebuliba also highlighted the development of a Green Agribusiness Taxonomy, which has improved climate resilience for 83,000 smallholder farmers and unlocked UGX 220 billion in new credit lines. Notably, 40% of the beneficiaries are women, and another 40% are youth.
“We have been able to build capacity within Uganda’s financial sector, helping 40 institutions improve their environmental policies and green loan products,” Ssebuliba added. “Our efforts are directly aligned with Uganda’s green growth strategy, and they have significantly improved the climate resilience of farmers across the country.”
At the event, aBi Finance recognized several key partners and stakeholders for their contributions to advancing green finance. Among those honored were government institutions, investment partners, and financial institutions that have worked alongside aBi to promote sustainable financial solutions.
Mr. Ole Dahl Rasmussen, Team Leader at the Danish Embassy in Uganda, commended aBi Finance for its ongoing work in climate adaptation and green finance. He pledged continued support for the organization’s efforts. “aBi Finance’s commitment to climate resilience and inclusive finance is making a tangible impact. We are proud to partner with them to drive sustainable development in Uganda,” Rasmussen said.
aBi Finance’s call for increased collaboration comes as Uganda continues to explore ways to boost climate resilience in its agricultural sector, which remains highly vulnerable to the effects of climate change. With a focus on promoting financial solutions that serve the country’s most underserved populations, aBi Finance is seeking to empower marginalized groups, including women, youth, and refugees, to become more resilient to climate impacts while contributing to Uganda’s economic growth.
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