HARVEST MONEY | EXPO | FARMERS

KAMPALA - Farmers will now access interest-free loans that will enable them to increase their capital as well as improve the infrastructure and platform investments that unlock economic opportunities. 

Cynthia Muhumuza Birungi, a field data analyst at AFEX, says farmers will be able to harness commodities and talent to build shared wealth and prosperity. 

These commodities include; maize, coffee, cocoa, soybeans, sesame, barley, paddy rice, sorghum, wheat, millet, and cashew nuts. 

“Since our inception, AFEX has continued to support an inclusive and efficient commodities’ market underpinned by infrastructure,” she said. AFEX fair trade was among the many companies that exhibited their services at the Harvest Money expo that took place at Kololo Independence Grounds from February 10 to 12, under the theme, Farming as a Business, Post-Harvest Handling and Value Addition.

Cynthia Birungi, Field Data Analyst, Afex Fair Limited Uganda (R) interacts with expo goers during the Harvest Money Expo held at Kololo Independence Grounds on Sunday, February 12, 2023. (All Photos by Shamim Saad)

AFEX is addressing the challenges of small-holder farmers and improving their livelihoods through better agriculture.

According to Muhumuza, farmers can access finance in the form of input loans, credit facilities, micro insurance, and access to markets. 

They can also purchase storage facilities, extension services and training on high-yield agronomic practices. 

“With our partnerships with different key players across the agricultural value chain, including but not limited to smallholder farmers (the backbone of the food system), agro-processors, logistics service providers, financial institutions, and regulatory authorities, we are supporting Uganda’s food security while promoting a fair exchange of value among players in the agricultural value chain,” said Ahumuza.

The company's goals are closely aligned with the UN SDGs, specifically SDG 1 (no poverty), SDG 2 (ending hunger), SDG 5 (gender equality), SDG 8 (decent work and economic growth), and SDG 12 (responsible production and consumption). 

Cynthia Birungi, Field Data Analyst, Afex Fair Limited Uganda speaking to the press during the Harvest Money Expo.

She explained that through AFEX’s proprietary electronic trading platform, farmers have improved the efficiency of commodity trading, enabling the wider capital market to tap into the African commodities market, while also driving significant financial inclusion in rural areas. 

The organisation has developed a database of credible farmers’ data, complete with bank verification numbers and land coordinates.  

“We have currently profiled over 3,000 farmers in northern and eastern Uganda, who are ready to receive input loans for this season, and we have accumulated over 500 MT of commodities in our warehouse facilities. We look forward to establishing one million MT of warehouse capacity and profiling 50,000 smallholder farmers for input financing,” she said.

The expo, organized by Vision Group, was sponsored by the Kingdom of Netherlands, Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), National Agriculture Advisory Services (NAADS), Pepsi, ENGSOL, RIELA/UPFRONT, Agricultural Credit Facility (ACF), Uganda Warehouse Receipt System Authority (UWRSA), Champrisa International and State House.