SPOTLIGHT: Why BoU’s Agriculture Credit Facility faces Parliament scrutiny

In 2009, Government set up the ACF in partnership with the financial sector and the Uganda Development Bank and injected over Shs260 billion in it. However, among the key grievances highlighted in the minority report was the fact that the scheme was found to benefit only wealthy farmers or companies engaged in commercial farming, without any appropriate intervention to empower the subsistence farmers. A section of legislators have put Agriculture Credit Facility (ACF) under accountability microscope and called for its disbandment after raising strong concerns over its management. In 2009, Government set up the ACF in partnership with the financial sector…