Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures.
Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Shillings 283bn) of all loans disbursed in January up from Shillings 113 in December 2018.
Trade came closely second with Shillings 183bn in loans in January. Personal and household loans segment received Shillings 139bn.
This is one of the rarest reporting, where the sector regarded riskiest by most funders, is topping other sectors in receiving money.
Access to finance has been one of the biggest challenges to farmers.
Dr. Swaibu Mbowa, a senior research fellow at the Makerere University-based Economic Policy Research Center (EPRC), described the figures as “a one off”