Project Status: Completed
The objective of AgriFin’s partnership with Centenary Rural Development Bank was to support the bank’s strategy of increasing finance to the agricultural sector in Uganda. The project focused primarily on three key areas: establishing an agricultural finance department to lead the strategic growth of agricultural loan portfolio; enhancing the bank’s capacity to deliver services to rural clients by developing and expanding alternative channels; and developing staff skills to enable them to serve agricultural clients more effectively. The initial results and lessons from this project are shared below for the benefit other financial institutions who are seeking to expand lending to the agricultural sector in a cost-effective way.
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Centenary Bank was started as an initiative of the Uganda National Lay Apostle in early the 1980s to promote the provision of a range of appropriate financial services to the rural population of Uganda. In addition, it contributed to the country's overall economic development. It started in 1983 as a credit trust and began to provide financial services in 1985. It was registered as a full-service commercial bank in 1993 with eight branches.
The Bank, although licensed as a full service commercial Bank, has always focused on the provision of microfinance. This has been and will remain a primary focus of the Bank. Learn More >>