In a significant step to improve financial access for farmers and the local business community, Centenary Bank has officially opened a new branch in Kiboga District.
The branch, located on 2nd Street, opposite St. Felistas Catholic Parish, was inaugurated on Tuesday, February 4, 2025.
The opening ceremony was graced by the Bishop-Ordinary of the Kiyinda Mityana Diocese, Rt. Rev. Dr. Joseph Anthony Zziwa, alongside other key stakeholders.
Dr. Fabian Kasi, the Managing Director of Centenary Bank, was also in attendance with a delegation from the bank’s head office in Kampala.
The new Centenary Bank Kiboga Branch marks an important milestone in the bank’s efforts to expand its reach into rural areas, making financial services more accessible to farmers, small businesses, and entrepreneurs in the region.
Agriculture A Key Economic Driver in Kiboga District
Agriculture plays a vital role in Kiboga District’s economy, with the majority of households depending on farming as their primary source of livelihood.
According to recent statistics, approximately 85% of the population in Kiboga is involved in agriculture, with a focus on crops like maize, beans, cassava, and coffee, as well as livestock farming.
However, despite the sector’s importance, many farmers in the district face challenges accessing financing, which hinders their ability to invest in modern farming techniques, improve productivity, and expand their businesses.
The lack of financial infrastructure in rural areas has for instance made it difficult for many farmers to take advantage of these opportunities.
Supporting Local Farmers
The new branch is set to transform the financial landscape for local farmers and businesses. By providing accessible and affordable financial services, Centenary Bank is helping to bridge the gap between farmers and the resources they need to thrive.
Dr. Kasi, Centenary Bank’s Managing Director, emphasized the bank’s commitment to supporting agriculture, saying it remains a cornerstone of the bank’s development strategy.
“Our goal is to make it easier for farmers to access credit, savings products, and financial advice that will enable them to scale up their operations,” said Dr. Kasi.
He added; “We understand the challenges that farmers face, and by opening this branch, we aim to provide the tools and resources necessary to help them succeed.”
Encouraging Youth Involvement in Agriculture
The new branch in Kiboga is expected to have a broader impact beyond supporting existing farmers—it is also set to inspire and encourage the youth in the district to explore agriculture as a viable and rewarding career.
Traditionally, many young people have been hesitant to join the agricultural sector, often due to a lack of resources, modern farming techniques, and access to finance. However, the new bank branch will provide the youth with greater access to financial products and guidance, making it easier for them to venture into farming or agribusiness.
With financing options like youth-targeted loans and savings accounts, the bank aims to offer opportunities for young people to start their own farms, invest in modern technologies, or launch agribusinesses.
Boost to the Local Economy
The new branch is expected to have a ripple effect on the local economy, encouraging investment in agriculture and other sectors. The availability of financial services will enable farmers to access funds for purchasing high-quality seeds, fertilizers, and modern farming equipment.
By empowering farmers, particularly the youth, with the necessary financial tools and resources, Centenary Bank is contributing to the long-term economic development of the district and its surrounding areas.
Note: This article is powered by I’m An Agripreneur, an initiative of Publics Africa Communications aimed at encouraging youth across the country to embrace the business in agriculture to transform their lives.