The Ministry of Finance, Planning and Economic Development
(MoFPED) offices in Kampala, has been named the home of agricultural finance in
Uganda, reports NaijaAgroNet.
The Secretary to the Treasury Mr. Keith Muhakanizi told
correspondents that as the ‘Home’ for Agricultural Finance, the Ministry will
among other things strengthen its coordination role at government level, hence
relevant to agricultural finance development in Uganda.
In a joint statement the trio of NEPAD Agency’s Mwanja
Ng’anjo, Making Finance Work for Africa Partnership’s Hugues Kamewe-Tsafack and
Uganda Agribusiness Alliance’s Edward Katende, Mr. Muhakanizi was quoted as
saying constituting a Taskforce to be chaired by the National Planning
Authority, to among other things, guide the Treasury office in developing an
institutional framework in MoFPED, for agricultural financing and the
appropriate mechanisms to support this framework.
NaijaAgroNet gathered, the Taskforce will also design a work
plan for the next year or so, which will inter-alia lead to the development of
an agricultural finance policy and strategy for Uganda.
Members of this Taskforce include MoFPED, Ministry of
Agriculture, Animal Industries & Fisheries, Ministry of Trade, Industry
& Cooperatives, Bank of Uganda, Uganda Agribusiness Alliance (UAA)
etcetera.
Responding, Erick Sile, the Agricultural Finance Advisor at
NEPAD Agency, said “Designating a “Home” for agricultural finance is a
commendable and outstanding achievement in Uganda, as coordination of
agricultural financing issues would ultimately contribute to formulation of
policies and strategies that create a conducive environment for private sector
entities, which in turn will have the right incentives, to increase their
participation in the transformation of agriculture in Uganda.”
Moreover, coordination of the public sector actions in
agricultural finance will contribute to the strengthening of coherent,
sustainable and socially responsible agricultural finance policies and
supportive underlying legal and regulatory systems.
+Naija AgroNet +Remmy Nweke (ITRealms)
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