dfcu Bank has partnered with Meta Plant & Equipment Uganda Limited to enable sugarcane farmers in eastern Uganda to acquire modern farm machinery on highly favorable loan terms. The announcement was made at the Kakira Sugar Limited factory in Jinja.
Under the arrangement, farmers pay only 10% of the equipment cost upfront, while dfcu Bank finances the remaining 90%, with insurance coverage provided by ICEA Lion. The loans, which require no collateral, can be repaid over a maximum of five years, with farmers allowed to choose their preferred repayment schedule.
Speaking at the launch, Gloria Ssuuna Namutebi, Senior Manager, Vehicle and Asset Finance at dfcu Bank, said the initiative is aimed at modernizing farming practices and improving productivity.
“We support customers to acquire assets they need in their day-to-day activities,” Namutebi said. “Today, our focus is on farmers. With this program, they can access tractors, ploughs, planters, harvesters, and other machinery. By partnering with reputable companies like Meta and ICEA, we also provide guarantees, maintenance, and training.”
Patrick Enoka, dfcu Regional Manager for Eastern Uganda, said the program targets over 10,000 farmers and includes financial literacy and capacity-building support. He urged farmers to embrace digital banking platforms to make loan management easier.
Dorcus Najjemba, Marketing Executive at Meta Plant & Equipment Uganda Ltd, highlighted that farmers could repay loans per harvesting season, with a 12% interest rate. She emphasized that the machinery is built to suit African agricultural conditions.
Representatives of Kakira Sugarcane Outgrowers Association welcomed the initiative. David Christopher Mombwe, Chairperson, noted that sugarcane farming is capital intensive and that access to affordable equipment and financing would improve yields.
YY Shaban, Deputy Outgrowers Manager at Kakira Sugar Limited, explained that mechanized planting is critical for sugarcane production. “You cannot plant sugarcane with hand hoes. Holes need to be over 12 inches deep for proper nutrient uptake. Limited access to tractors has been a major challenge. Now, farmers can own their equipment and even rent it to others,” Shaban said.
Annette Kiconco, Chief Retail Banking Officer at dfcu Bank, said the partnership represents a shift toward modern, sustainable farming. “This is a holistic solution — we finance the equipment, ICEA insures it, and farmers are trained to use it effectively. This is about taking agriculture to the next level in Busoga and beyond,” she said.
The partnership aims to empower farmers, increase productivity, and boost incomes, signaling a new era for commercial farming in eastern Uganda.
