In a bid to drive economic growth and fight poverty in Uganda, Stanbic Bank has partnered with Buganda Kingdom to empower coffee farmers in the Buganda region.
This strategic partnership, which also aims at empowering SACCOS, was unveiled on Tuesday, April 17, 2025, at a function held at Bulange Mengo, Kampala, presided over by Owek. Prof. Twaha Kigongo Kawaase, the Deputy Katikkiro, and Paul Muganwa, the Head Corporate Investing and Banking, at Stanbic Bank, during which a Memorandum of Understanding was signed between Buganda Kingdom and Stanbic Bank.
Speaking at the function, Muganwa said that this strategic partnership, signed with Buganda Cultural and Development Foundation (BUCADEF), is part of the economic restart fund that was started by Stanbic bank during the COVID-19 pandemic and is aimed at eradicating poverty at the grass root level through encouraging people in Buganda region to grow coffee.
“It is with great honour that I represent Stanbic Bank at this landmark occasion as we formalise this strategic partnership with Buganda kingdom through the SACCO program and the Economic Restart Fund that was launched during the COVID-19 pandemic,” said Muganwa at the function.
“Over time, we have built a robust model that works, and together with Buganda kingdom, we shall empower farmers and SACCOS across the region with tools and the financial support they need to improve their agricultural productivity, particularly in coffee farming, which is a key economic driver,” he added.
Owek. Prof. Kawaase, who represented Owek. Charles Peter Mayiga, the Katikkiro of Buganda, hailed Stanbic Bank for the initiative, noting that this move is in line with His Majesty Sabasajja Kabaka Ronald Muwenda Mutebi’s key objectives of fighting poverty and diseases in Buganda kingdom.
Kawaase explained that coffee farming not only enables Kabaka Mutebi’s subjects to fight poverty, but also makes it possible for them to afford basic medical treatment as a result of the income generated from selling their produce.
“We welcome Stanbic Bank, which has come to ensure that we fight poverty and diseases through coffee farming. It is Sabasajja Kabaka’s wish that we ensure that poverty and diseases are fought throughout the kingdom. Therefore, Stanbic Bank’s coming on board is timely because Kabaka Mutebi started this fight long ago through cooperatives and BUCADEF,” Owek. Kawaase said.
He added that, “The contents of the Memorandum of Understanding (MoU) that we have signed are critical because, over and above, they ensure that the Kabaka’s subjects shall get access to genuine farm inputs and have access to finance which is relatively cheaper.”
Coffee Farming in Buganda Region
Coffee farming is a key economic driver in Uganda, with the crop being the country’s leading foreign exchange earner. Buganda region, in particular, has seen significant growth in coffee production, with the kingdom’s “Emwanyi Terimba” campaign, launched in 2016, contributing to a 35% increase in coffee production. With this initiative, the region’s coffee farmers will benefit from Stanbic Bank’s expertise in agricultural finance, including Agri Finance Loans and other solutions tailored to the agricultural value chain.
Impact on Poverty Reduction
The partnership aligns with the objectives of His Majesty Sabasajja Kabaka Ronald Muwenda Mutebi, who has emphasised the importance of fighting poverty and diseases in Buganda Kingdom. By empowering coffee farmers, the initiative aims to increase income generation and enable farmers to afford basic medical treatment.
Uganda’s Coffee Industry
Uganda is the largest coffee exporter in Africa and the eighth largest exporter globally. Coffee provides a source of income for 1.8 million households involved in its cultivation. The Uganda Coffee Development Authority (UCDA) recently devised an aggressive roadmap to elevate Uganda’s reputation in coffee and transform its coffee sector, with ambitious plans to triple coffee exports by 2030.
This partnership is therefore expected to have a significant impact on the lives of coffee farmers in Buganda region, contributing to poverty reduction and economic growth. By providing access to financial resources and expertise, Stanbic Bank and Buganda Kingdom aim to unlock the full potential of coffee farming in the region.