Experts call for more financing for agricultural sector

May 02, 2022

"Despite growth in several sectors of the economy, agricultural productivity has been stagnating over the last fifteen years. There is a need to allocate more funding to boost production," said Pozhidaev. 

Experts call for more financing for agricultural sector

Simon Okitela
Journalist @New Vision

There has been a decline in Uganda’s agricultural productivity, something that is worrying stakeholders.  

The decline in productivity has led to a shift in labour to other productive sectors of the economy like services and manufacturing as more youths opt for quick income making ventures. 

Speaking on the sidelines of a meeting in Kampala, Dmitry Pozhidaev, the United Nations Capital Development Fund (UNCDF) Head in Uganda, urged the government to address the current challenges affecting the agriculture sector. 

"Despite growth in several sectors of the economy, agricultural productivity has been stagnating over the last fifteen years. There is a need to allocate more funding to boost production," said Pozhidaev. 

Antonio Querido, the Country Representative of FAO Uganda said there is an urgent need to address infrastructural challenges.  

"We must focus on key infrastructures like energy and roads plus access to markets and finance. This will make the sector more attractive and encourage the youth to venture in, but also boost returns for farmers,’’ Antonio Querido added. 

Financiers say financing is available, but the onus is on the farmers to demonstrate their capabilities of efficiently utilizing the finances.  

These were some of the findings during an agribusiness conference that happened under the theme Uganda@60: Fulfilling the agro-industrialisation agenda for Uganda 

Comments

No Comment


(adsbygoogle = window.adsbygoogle || []).push({});