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BoU Boss Tips Small Scale Farmers On How To Access Agricultural Credit Facility Funds

The Bank of Uganda (BoU) Deputy Governor, Michael Atingi-Ego (pictured) has called upon both Government and the people of Mbale city to further support the Agricultural Credit Facility (ACF) so that Mbale becomes a productive city instead of being a consumption city, saying;  

 “I pray that the growing demand for the ACF funding will be looked at positively by the Government so that the facility’s capital is boosted in order to broaden financial inclusion and enhance equity. The facility has innovated convenient means for very small borrowers to gain credit through block allocations based on non-traditional forms of collateral such as chattel (personal property other than land and buildings), cash flow based financing, and character-based loans, to name but a few,” Atingi-Ego said.

He added: “The farmers and business community in this region are encouraged to use the ACF to upgrade their activities so that the new cities such as Mbale City become hubs of manufacturing and industry, which will transform them from ‘consumption cities’ to ‘productive cities’.”

 He made the remarks on November27, 2020 while handing over the Refurbished Nakaloke Health Centre III Nakaloke based in Mbale.

Bank of Uganda undertook a corporate social responsibility activity in support of maternal and child healthcare in 2016 whereby maternity wards in Mbarara, Mbale, Arua and Gulu have been renovated.

Atingi-Ego  said that the renewal of Nakaloke Health Centre III, was inspired by two things, that is, the spirit of Ubuntu and the BoU’s delivery of its functions in the service of the people of Uganda.

“We are richer, much richer because we give and share what we have with the community,” Atingi-Ego said, adding: “Indeed, the Greek philosopher Aristotle said that giving is about improving the moral character of the giver. The staff of the BoU could not sit idly by without minding our brothers and sisters across the country, who are deprived of decent health services. And so we approached you, the leaders of Mbale district in a noble collaboration that led to the rejuvenation of this health centre that we witness here today. This is because we firmly believe that every woman has a right to give birth in a proper health facility with appropriate medical equipment.”

He added that every woman has a right to hold her newborn baby or babies in her arms and to nurse and nurture them from tender toddlers to fully functional adults.

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Taddewo William Senyonyi
https://www.facebook.com/senyonyi.taddewo
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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