H.E. Virgine Leroy (C), Ambassador of France to the Republic of Uganda, Head Financial Institutions and Social Enterprises at Pearl Bank, George Williams Walusansa, (4th L) Marc Trouyet (3rd R), the Country Director for AFD in Uganda, joined by other officials from Rwanyamahembe SACCO, Pearl Bank, and AFD. This was during a courtesy visit to some of the beneficiaries of the Rwanyamahembe SACCO in Mbarara on 29th June 2026
HABARI DAILY I Kampala, Uganda I Pearl Bank, has been hailed for it’s consistent funding to the agricultural sector, which has strengthened its partnership with Agence française de développement, (AFD), the French Development Agency.
A delegation, led by Virgine Leroy, the Ambassador of France to Uganda, paid a visit to some of the key beneficiaries under the ongoing partnership with Pearl Bank, in Mbarara.
The visit follows the successful formalization of the Pearl Bank and AFD partnership in October last year, for a concessional credit line of €15 million (Shs 60 billion) and an additional €1 million (Shs 4 billion).
The technical assistance is aimed at boosting agricultural micro, small, and medium enterprises (MSMEs), smallholder farmers, and SACCOs.
George Williams Walusansa, Pearl Bank’s of Head Financial Institutions and Social Enterprises underscored the importance of agriculture, saying that it continues to play a central role in the growth of our economy.
“It employs over 70% of our population who are directly or indirectly involved, and it forms part of the ATMS (Agro-industrialization, Tourism, Mineral Development, and Science, Technology & Innovation) as key drivers of the Tenfold Growth Strategy to expand the economy from USD 50 billion to USD 500 billion by 2040,” he said.
He made the remarks during the engagement with Rwanyamahembe SACCO members.
“With the success stories that have been shared by Rwanyamahembe SACCO and other farmer groups across the country, we are confident that with the right financing, we can create a great impact and complement the government’s effort to grow the economy to the $500 billion 2040 target,” he said.
Over 170,000 individuals and farmer groups have been supported under the Pearl Bank/AFD partnership. These include the 12,000 beneficiaries of the Rwanyamahembe SACCO and other farmer groups across the country, like Kyamuhunga Peoples’ Co-Operation with about 13,000 beneficiaries, Ebo Co-Operative Savings with 120,000 beneficiaries, to mention a few.
Ambassador Virginie Leroy was impressed by the impact that has been registered so far since the partnership was initiated in October 2025.
“Through this initiative, France is investing in Uganda’s farmers, cooperatives, and rural entrepreneurs who are the driving forces behind the country’s agricultural sector,” she said.
Marc Trouyet, the Country Director for AFD in Uganda, applauded the long-term partnership with Pearl Bank and the positive outcomes attained through the financial facility.
“This is a testament that once there is access to the appropriate financing, we can unlock new energy and investment across Uganda’s agribusiness sector, that is, from smallholder farmers and SACCOs, to women and youth”.
Walusansa further acknowledged AFD’s support and pledged the bank’s continued efforts in designing accessible products and services that not only enable participation in the critical sectors like agriculture, but also create tangible positive outcomes like employment, financial inclusion, food security, trade opportunities within the country.
“It also boosts exports to the regional markets, which ultimately translate into social-economic development of Uganda,” he noted.
As a homegrown bank, Pearl Bank’s purpose is to Foster Prosperity for Uganda, which it implements through its two high-impact goals, which include driving sustainable financial inclusion and stimulating entrepreneurship & enterprise.
Pearl Bank, which is a limited liability company that was incorporated under the Companies Act in 1998, is owned by the Government of Uganda with 100% shareholding. It is a fully-fledged commercial bank, and boasts a wide branch network of 59 branches countrywide, and over 12,000 Agents.
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