{"id":39122,"date":"2022-10-22T20:22:47","date_gmt":"2022-10-22T20:22:47","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/stanbic-bank-toasts-to-coffee-farmers-at-160-years-celebration"},"modified":"2022-10-22T20:28:35","modified_gmt":"2022-10-22T20:28:35","slug":"stanbic-bank-toasts-to-coffee-farmers-at-160-years-celebration","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/stanbic-bank-toasts-to-coffee-farmers-at-160-years-celebration","title":{"rendered":"Stanbic Bank toasts to coffee farmers at 160 years celebration"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Coffee remains Uganda\u2019s top-earning export crop with a value worth $862.28m (Shs3.2 trillion).<\/p>\n

To mark 116 years of operation in Uganda, Stanbic Bank held a coffee tasting ceremony at Serena Hotel to celebrate its investment in agriculture.<\/p>\n

Stanbic Bank has been operating in Uganda since 1906, when it used to be the National Bank of India. As a member of the Standard Group, which operates in 20 countries across Africa, the bank marked 160 years with pomp and a reminder of Uganda\u2019s heritage.<\/p>\n

Anne Juuko the bank\u2019s chief executive explains that they chose to celebrate this 160-year milestone by recognising two unique actors in post-independence Uganda\u2014coffee and young people.<\/p>\n

\u201cWe are here with young coffee farmers, and we are treating our guests to a coffee testing experience to honour a crop that has significantly contributed to Uganda\u2019s post-independence fiscal liberation by earning hundreds of millions of dollars in revenue, every year. Uganda has the youngest population in the world, with 77 per cent of our people being under 25 years of age\u2014we are therefore privileged to work with the youth who we regard as one of our 160 reasons to believe in Uganda and Africa,\u201d Juuko says.<\/p>\n

Stanbic Bank has been a strong financing pillar in Uganda\u2019s agriculture sector mainly through providing financial support in form of loans, credit facilities and overdrafts to farmers, agro-processors and aggregators, agriculture-related industries, cooperatives and key players in agricultural value chains across the country.<\/p>\n

In 2018, for instance, the bank provided facilities worth Shs360b to the agricultural sector. This is by far the largest amount of any commercial bank spending in the sector in Uganda.<\/p>\n

Japheth Katto Stanbic Uganda Board Chairman retold the journey of Stanbic and coffee farming in Uganda saying coffee and Uganda\u2019s economic growth are inseparable.<\/p>\n

A new generation of farmers<\/b><\/p>\n

Uganda aims to raise its annual production to an ambitious 20 million 60kg bags by 2025. The opportunity rests heavily on bringing through a new generation of talent.<\/p>\n

Coffee is produced by an estimated 1.7 million small-plot coffee farmers from 108 districts, most of whom are aging.<\/p>\n

Historically, coffee has been produced by the old people with limited education. For example, some farmers would often strip branches of coffee cherries, rather than carefully picking them. This resulted in unripe green cherries getting mixed up with ripe ones.<\/p>\n

As a result, there has been significant emphasis on training up young Ugandans to become competent coffee farmers.<\/p>\n

Mara Agribusiness, which produces Aramah Coffee were some of the youth represented at the ceremony. They even conducted a coffee tasting experience.<\/p>\n

Mara Agribusiness trains youth farmers throughout the coffee journey to ensure quality and then buys their coffee which they roast, grind and package.<\/p>\n

So far, Mara has a total of 1,050 youth coffee farming network and 5,080 traditional coffee farming network across five Robusta and three Arabica coffee growing districts.<\/p>\n

Through the network, Mara trains farmers in coffee agronomy and sells agro-inputs to smallholder farmers.<\/p>\n

\u201cWe are helping young people produce coffee that is concerned about the sustainability of the sector through inclusion in the value chain,\u201d Zipporah Ayebare, a marketing specialist with Aramah Coffee says.<\/p>\n

This youth-led agri-business compliments the Uganda Coffee Development Authority (UCDA) plan of sustainable approaches to coffee production. UCDA and partners often give producers free training, free seedlings, and inputs at subsidised rates such that people who previously had no interest in coffee farming can become accomplished producers.<\/p>\n

Prof Patrick Mangheni\u2014Board Chairman, Stanbic Bank Uganda says that giving coffee farmers a push is a symbolic moment of Standard Bank\u2019s contribution to Uganda\u2019s post-independence growth story.<\/p>\n

\u201cIt is a celebration of the fruits of walking our purpose\u2014Africa is home, we drive her growth,\u201d Prof Mangheni says. \u201cIt is not possible to grow Uganda without involving the youth. The future of agriculture, which is still our national mainstay, is in danger if young people are not actively involved in its practice. The Standard Bank Group\u2019s 160th anniversary should inspire the youth of today who are at the start of their entrepreneurial journeys. Our challenge and responsibility as Standard Bank Group is to nurture the young businesses of today, to grow into solid, thriving enterprises that will create jobs, pay taxes and indeed, drive Uganda\/Africa\u2019s growth,\u201d he adds.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Coffee remains Uganda\u2019s top-earning export crop with a value worth $862.28m (Shs3.2 trillion). To mark 116 years of operation in Uganda, Stanbic Bank held a coffee tasting ceremony at Serena Hotel to celebrate its investment in agriculture. Stanbic Bank has been operating in Uganda since 1906, when it used to be the […]<\/p>\n","protected":false},"author":84,"featured_media":39121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,1314,234],"class_list":["post-39122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-stanbic-bank","tag-uganda"],"yoast_head":"\nStanbic Bank toasts to coffee farmers at 160 years celebration - Uganda<\/title>\n<meta name=\"description\" content=\"Coffee remains Uganda\u2019s top-earning export crop with a value worth $862.28m (Shs3.2 trillion). 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