Pearl Bank targets agribusiness growth through SME training

Pearl Bank has stepped up efforts to strengthen Uganda’s agribusiness sector by equipping small and medium-sized enterprises (SMEs) with business management skills and improving their access to finance, positioning them as key drivers of economic growth.

Speaking during a capacity-building programme for agribusiness entrepreneurs, Pearl Bank’s head of distribution for Greater Kampala, Martin Lukyamuzi, said the initiative is aligned with the bank’s mission of fostering prosperity through agriculture.

“Our purpose is to foster prosperity for Ugandans, and you cannot talk about prosperity without focusing on agriculture,” Lukyamuzi said.

He said the bank had brought together agribusiness SMEs to enhance their business management practices, improve productivity and increase profitability.

“This is a key intervention in driving growth for our agribusiness customers and the country at large. If SMEs become more efficient, they will improve productivity, grow their revenues, and contribute to the wider economy,” he said.

Lukyamuzi said the initiative supports government’s ambition of expanding Uganda’s economy to $500 billion under its tenfold growth strategy.

In addition to training, he said the bank is facilitating access to affordable financing through strategic partnerships.

“We have sourced partners to help subsidise the cost of credit and others like Ronalds Africa Uganda to support capacity building and training,” he said.

The bank has so far trained 32 agribusiness SMEs drawn from its existing customer base and plans to expand the programme as additional partnerships and funding become available.

According to Lukyamuzi, the beneficiaries are expected to share the knowledge gained with other entrepreneurs, encouraging more SMEs to formalise their operations and take advantage of financial and technical support. He said the programme is expected to continue on a quarterly basis.

One of the participants, Kiruhura-based agribusiness entrepreneur Paddy Muramira, who operates an animal feed business under the name Amorobin, said the three-day training helped participants identify weaknesses in the way they manage their enterprises.

“We realised that most of the time we are the cause of failure in our own businesses. The training helped us understand how to manage customers and grow sustainably,” Muramira said.

He said many SMEs continue to operate without proper systems, particularly in bookkeeping and financial management.

Muramira added that the training emphasised the importance of starting small, managing risks and building businesses progressively, with participants expected to receive continued technical support over the next four months.

John Tuhakirwa of Ronalds Africa Uganda said the organisation is partnering with Pearl Bank to provide capacity-building services to agribusiness SMEs. He said the programme focuses on strengthening financial management, corporate governance, regulatory compliance and internal systems to enable businesses to grow sustainably.

“We have supported about 35 agribusiness SMEs through this programme, helping them strengthen their systems and improve operations,” Tuhakirwa said.

He noted that the initiative forms part of a wider regional programme being implemented in Kenya, Rwanda and Tanzania. According to Tuhakirwa, many African farmers continue to rely on inherited business practices rather than structured management systems, limiting their competitiveness in regional and international markets.

He added that the programme has already created opportunities for participating SMEs to explore regional markets, with some considering expansion into neighbouring countries.

“This is a global competition. Farmers must understand that they are competing with large-scale producers across the region and beyond,” he said.

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