50% of agribusiness loan requests rejected – BoU

Close to half of agricultural loan applications are rejected, data in the Bank of Uganda 2024 Annual Report shows.

The report, which reviews different funds managed by the Central Bank, including the Petroleum Fund and the Small Business Recovery Fund, among others, indicates that in the 15 years to June 2024, the Bank of Uganda Agricultural Credit Facility has received 7,726 loan applications worth Shs1.58 trillion, but only 57 percent were approved, which represents 4,442 approvals worth Shs981b. 

The Fund is operated through 24 participating…