Second Agribusiness Mkutano focuses on cultivating resilience and climate finance

The 2^nd Agribusiness Mkutano themed “Cultivating Resilience: Agribusiness and Climate Finance as an Anchor for Sustainable Economic Growth in Uganda,” was held today 16^th April, 2024, at the Mestil Hotel in Kampala.

Organised under the hashtags #agribusiness24 and #agrimkutano24, the Mkutano cast spotlight on critical developments in agribusiness, ranging from global geopolitical shifts and technological advancements to innovative finance and climate-smart practices.

Despite Uganda’s vast potential with 80% of its land suitable for thriving agricultural produce, only 35% is being profitably utilised. The sector, which contributes less than 25% to Uganda’s Gross Domestic Product (GDP), employs over 60% of the Ugandan population (UBOS, 2023), presenting significant opportunities for transformation and economic impact on a larger scale.

The 2024 Agribusiness Mkutano aimed to harness this potential by opening a space for dialogue on multi-faceted financing solutions to drive the sector’s industrialisation and strengthen its climate resilience.

This invite-only, single-day meeting built on the inaugural Agribusiness Mkutano held in 2022, which emphasised the importance of creating a trajectory to sustainable economic development through Agro-Industrialisation.

The meeting drew lessons from the Technical Working Group on Industrial Zones (TWGIZ) that emerged from the Economic Mkutano 2023.

Speaking about #agribusiness24, D. BikhadoOfungi, Curator at The Mkutano Company, said: “The 2024 Agribusiness Mkutano aimed to draw from the National Development Plan, ensuring private sector and development partner initiatives in agribusiness align with Uganda’s 5-year development vision.”

Alfred Okot Okidi, Permanent Secretary Ministry of Water & Environment, emphasised: “Agritech, a key topic which was discussed, plays a crucial role in advancing climate-resilient agricultural practices and fostering sustainable growth. This aligns closely with the priorities of Uganda’s National Development Plan and Vision 2040, which recognise the importance of maintaining water cycles and suitable microclimates to support productivity in sectors like agriculture.”

Prof. Pamela Mbabazi, Chair, National Planning Authority, said: “The meeting provided a platform to explore and nurture impactful new ideas and collaborations that will drive sustainable growth and economic contribution in Uganda’s agricultural sector.”

About the Agribusiness Mkutano

The Agribusiness Mkutano is one of The Mkutano Company’s sector-specific convenings, focused on driving innovation, collaboration, and sustainable growth in Uganda. As part of The Mkutano Company’s broader efforts, including the Annual Economic Mkutano, these convenings bring together key stakeholders, including entrepreneurs, investors, policymakers, and experts, to exchange knowledge and chart actionable solutions for inclusive and sustainable economic development.