aBi reveals $66.8 billion investment to boost climate-smart agriculture in Uganda

In a bid to drive a green and inclusive economic transformation, the Agricultural Business Initiative (aBi) has launched two innovative programs aimed at supporting smallholder farmers and combating the climate crisis. The Green Agri-Food System Program (GRASP) and Accelerating the Adoption of Green and Inclusive Finance (AAGIF) were unveiled at Speke Resort Munyonyo on May 2, with an impressive investment of US$66.8 billion.

More than 200,000 farmers will directly benefit from aBi’s smart farming and resilience programs as the effects of climate change continue to intensify. The five-year program will focus on building capacity for farmers and agribusinesses to adapt to climate change and continue productive activities.

Moses Nyabila, CEO of aBi Development Ltd, emphasized the importance of GRASP in addressing the climate crisis and empowering farmers to adapt. “Support for GRASP is rooted in its direct relevance to ‘The World We Share’, which addresses the climate crisis by empowering farmers to adapt. “It consolidates aBi’s role as a strong partner for the development of private sector agricultural businesses, bridging the gap between producers and markets.”

Meanwhile, Mona Muguma-Ssebuliba, CEO of aBi Finance Ltd, noted that despite efforts to boost the agricultural value chain in Uganda, the financing gap remains significantly high, with only 10% of Ugandan companies access loans. AAGIF aims to add an investment of $11 billion to empower often overlooked segments of society, including youth, women and refugees, enabling them to build thriving agribusinesses and improve their livelihoods.

Felix Okoboi, Chairman of the Board of Directors of aBi Development & Finance, thanked the Government of Uganda, the European Union and the Royal Danish Embassy for their unwavering support and commitment to a private sector-driven Ugandan agriculture that is green and inclusive.

The launch was attended by the Hon. Frank Tumwebaze, Minister of Agriculture, Animal Industry and Fisheries (MAAIF), represented by Dr Henry Nakalaet Opolot, Commissioner of Extension Services and Skills Management. Dr. Opolot reiterated that aBi is directly supporting the government’s priorities and policies, aligning with the country’s strategic direction guided by Vision 2040 and the National Development Plan III.

“There is a strong and urgent need to support Ugandan agriculture to increase productivity and adapt and respond to climate change. Denmark is proud to continue supporting Ugandan agriculture for over ten years through aBi Finance and aBi Development. We are very happy to do this as a Team Europe initiative in collaboration with the EU delegation,” said Signe Winding Albjerg, Ambassador of Denmark to Uganda.

“We are delighted to strengthen employment and incomes in agriculture through this Team Europe initiative. Many farmers and processors have already benefited from aBi Development’s support, but the need is growing. Particularly happy to see Bi Development take the lead in promoting compliance with the EU Deforestation Regulation. This is necessary for both farmers and forests,” added Jan Sadek, EU ambassador to Uganda.

The launch also marked the closing of the Uganda Program for the Sustainable and Inclusive Development of the Economy (UPSIDE), which began in 2019 and supported more than 200,000 farmers, 50% of whom are women, to achieve resilience to climate change through expanded and inclusive policies. Green agri-food systems.

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