Pearl Bank’s growing influence in financing Uganda’s agriculture and small business sectors has earned it recognition from the Bank of Uganda, underscoring the lender’s expanding role in driving inclusive economic growth.
The recognition, announced during a stakeholders’ workshop at Hotel Africana, highlighted the bank’s strong performance under the Agricultural Credit Facility (ACF) and Small Business Fund (SBF)—two flagship financing schemes aimed at unlocking affordable credit for key sectors of the economy.
Implemented jointly by the Bank of Uganda and participating financial institutions, the ACF was designed to expand access to medium- and long-term financing for agriculture at competitive interest rates. Pearl Bank has emerged as one of the standout performers under the programme, driven by robust portfolio growth, prudent risk management, and a deliberate focus on reaching both commercial and smallholder farmers.
Over the past five years, the bank has grown its agricultural loan book by approximately 180 per cent, reflecting a strategic shift toward tailored financing solutions. These include seasonal working capital loans, risk-sharing facilities, and partnerships aligned with national programmes—tools that have enabled farmers, particularly in rural areas, to adopt climate-smart practices and scale production.
According to Julius Akais, Pearl Bank’s Supervisor for Agriculture and Partnerships, the bank’s approach is anchored in bridging long-standing financing gaps within the sector.
“The bank is committed to creating an enabling environment for Ugandans to access affordable financing solutions, particularly in agriculture, which remains a cornerstone of the economy—supporting livelihoods, food security, and export growth,” Akais said.
He noted that by tailoring products to specific agricultural value chains—including coffee, dairy, grains, poultry, and horticulture—the bank has enabled farmers to invest in modern equipment, irrigation systems, storage facilities, and value addition.
Beyond institutional recognition, individual contributions were also acknowledged. Akais received a special accolade for his role in supporting the implementation of the ACF, reflecting his contribution to expanding access to agricultural financing.
The recognition adds to a growing list of accolades for Pearl Bank. In recent years, the bank has secured multiple awards under the ACF and Small Business Recovery Fund (SBRF), including best-performing bank under both schemes. It has also been recognised as Best Bank in Agriculture and Agro-processing at the inaugural Annual Bankers Awards.
These milestones point to a broader strategy centred on sustainable and inclusive finance. As Uganda pushes toward ambitious growth targets under the National Development Plan IV and the Tenfold Growth Strategy, financial institutions are increasingly being called upon to play a catalytic role.
For Pearl Bank, that role is anchored in its long-term mission of fostering prosperity. With a nationwide network of 59 branches and over 8,000 agents, the bank continues to expand access to financial services, particularly in underserved communities.
Its evolution—from a Post Office Savings Department established in 1926 to a fully-fledged commercial bank—reflects a long-standing focus on inclusion. Now operating under a five-year strategy aligned with its “Grow. Prosper.” agenda, the bank is positioning itself as a key enabler of entrepreneurship and sustainable development.
As recognition from the central bank signals, Pearl Bank’s bet on agriculture and small businesses is not only paying off—it is helping reshape the country’s economic landscape.
