• The MOU will make available extended services and agro-input products to farming communities in the most remote of the country.


• This MOU will also see Equity provide affordable and convenient financial service solutions for Bukoola’s value chain. This includes, via the phone unsecured working capital at competitive rates to over 2000 distributors, dealers and access to “easy to use” digital payment channels by SMEs populating in the Agro chemical sector.


• It will strengthen collaboration between the two entities in the areas of support to farmers around the ecosystems of the burgeoning Agro chemical sector to include enterprise development and financial inclusion and environmental conservation.

Kampala, 18 October 2022…Equity Bank Uganda and Bukoola Chemical Industries Ltd, today, signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of financing and enterprise development specifically for distributors and dealers in the Agro chemical sector.

The partnership will also enable access to quality crop protection products by farming communities in the most remote parts of the country. Bukoola has 2000 registered dealers with a buffer of more than 5000 unregistered agents that are being trained and organized into formidable agents.

Speaking during the signing ceremony which took place at the Bukoola factory in Nalukolongo, Equity Bank Executive Director Elizabeth Mwerinde Kasedde said, “Equity is committed to fund the entire ecosystem with a revolving fund that supports the entire Agricultural sector through it’s African Recovery and Resilience Plan. We aim at solving the problem of financial inequity such that cash is moving from one partner to the other at different stages.”

Adding, “This MoU brings our two organisations together as promoters of development of the Agricultural sector in Uganda. In this partnership, we will make available unsecured financing of up to UGX3billion to an individual dealer or distributor of Bukoola Chemical Industries Ltd. This funding will be accessible through our digital payment channels, meaning the dealers can access the credit 24/7 via phone.”

Dr. Peter Kyabaggu, Director Bukoola Chemical Industries Ltd said, "We are very excited to announce this partnership between Bukoola Chemical Industries Limited and Equity bank. From the onset of the discussions that have led us here, we knew we were in the right place. Bukoola, as a leading distributor of Crop Protection Products in the country, has a wide network of independent Agro-input businesses across the country. These businesses largely categorized as micro, small and medium enterprises have not been spared by the lasting effects of COVID19 and ongoing price fluctuations because of global logistic disruptions all of which increase cost of doing business.

He added, “As we approach the celebration of 50 years of impactful business; weaving the food basket of Uganda while supporting businessmen and women, we are delighted to work through like-minded partners like Equity bank to provide such liquidity interventions to our business customers. Apart from enhancing the capacity of our customers, these solutions will drive growth and increase availability of and access to our quality crop protection products by our food production heroes, the farmers," said Dr. Paul Mawanda Kyabaggu, Chairman.

Today’s event is another testament to Equity’s commitment to support the agriculture sector. Through its Food and Agriculture pillar, launched in 2018, Equity bank has reached 49,359 farmers in Uganda with support totaling UGX229.7 billion.

The bank seeks to accelerate economic growth by commercializing small-scale agriculture, helping to expand agricultural production, create jobs, develop value chains and enhance wealth creation for farmers and other agricultural businesses.

It also supports the transformation of small-scale farmers into agribusiness entrepreneurs by developing their business acumen, enhancing their technology capabilities, increasing their productivity and improving their access to markers and finance.

“We believe that smart, targeted agricultural growth can create employment, ensure food security, reduce reliance on food imports and lower food prices,” said Executive Director Elizabeth Mwerinde Kasedde.

Equity Bank Executive Director Elizabeth Mwerinde Kasedde and Bukoola Chemical Industries CEO Dr Paul Mawanda Kyabaggu at the signing of the MOU between the 2 organizations.