By Flavia Ajok
Farmers in Masindi district have appealed to the government to establish a farmers’ agricultural banks saying it would help them access loans at a cheaper interest rates.
Under their umbrellas Masindi Sugarcane Out Growers’ Association (MASGAL) and Masindi district farmers’ association (MADFA), the farmers argue that once the agricultural banks are established, they will extend financial services, mainly credit at subsidized interest rates, to customers not considered creditworthy by commercial banks.
Kanaginagi Ateenyi, a prominent farmer in Pakanyi sub county says they are left to the mercy of commercial banks which are exploiting them and they cannot avoid them since it’s the remaining option for big loans yet farmers are selling their produce at a very low price.
Innocent Bikorwomuhagi, a farmer from Masindi central division wants parliament to consider agricultural financing as one of the crucial interventions the country needs currently.
