The country wide coverage of micro-finance institutions can play a key role in the recovery of various sectors of the economy from the effects of Covid -19 pandemic.
The Head Financial Inclusion Letshego Micro finance institution Samuel Ocanya says affordable loans to the Agricultural sector could revive production and promote value addition.
Agriculture employs 70% of Uganda’s population directly and indirectly and it is an income generating activity and for food.
When Government locked down the country to curb the spread of Covid-19, Farm produce came in handy to sustain the population.
However there are concerns on Government preparedness and financial institutions support to the sector to avert food shortage due to effects of the lockdown.
Letshego Microfinance Institution is offering affordable Agricultural loans to farmer groups and individuals. The Micro lending institution is expecting to enhance value addition and boost production.
Small scale and large scale farmers at the grassroot need finances to engage in production although the cost of borrowed money is scary and demotivating.
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