Talanta & aBi Finance Join Forces to Drive Sustainable Development in Northern Uganda

In a remarkable effort to empower smallholder farmers and rebuild livelihoods in Northern Uganda, Talanta Finance Ltd and aBi Finance have forged a powerful partnership aimed at driving sustainable development in the region.

Following the devastation caused by the LRA war, the communities in Northern Uganda faced immense challenges in rebuilding their livelihoods. Talanta Finance emerged as a catalyst for change, offering small loans and financial support to farmers in the ten districts neighbouring Gulu. Desmond Nzaana, the Head of Business Development at Talanta Finance, explained: “We have been in business giving small loans in the region, but we also finance smallholder farmers in the agribusiness value chains.”

Recognizing the need for strategic collaboration, Talanta Finance joined forces with aBi Finance in 2019. Through a matching grant of 744 million shillings, with aBi Finance providing 60% and Talanta Finance contributing the remaining 40%, the partnership gained momentum. This financial boost allowed Talanta Finance to expand its operations and enhance its impact, particularly in the dairy farming sector.

“We started working with aBi Finance with the goal of portfolio development and derisking critical sectors such as dairy farming,” said Nzaana. With the support of aBi Finance and strategic partnerships with organizations like Partners Worldwide, Talanta Finance has grown its portfolio to approximately 3 billion shillings, with plans to reach 9 billion shillings within the next 24 months.

The impact of this partnership extends beyond financial support. Talanta Finance and aBi Finance are committed to promoting sustainable practices and green financing. Noah Owomugisha, the Head of Green Growth and Business Development Services at aBi Finance, emphasized the importance of adopting environmentally friendly approaches. “All the financial institutions we work with are already doing something on mitigation, but not much on the adoption of best practices to combat the effects of climate change,” Owomugisha stated.

With a shared vision for sustainable development, Talanta Finance and aBi Finance are leveraging technology and innovative solutions to empower farmers and create a greener future. Plans include expanding their operations to West Nile and Lango regions, increasing their reach within refugee hosting communities, and harnessing the power of ICTs to drive growth.

The impact of this collaboration is felt directly by farmers like Alex Icaya Ogwal from Aywee, Pece in Gulu. Thanks to Talanta Finance, Ogwal has expanded his zero-grazed cattle herd to eight heifers, yielding 10 litres of milk each day. “Talanta Finance has transformed my farming operations and improved my livelihood,” said Ogwal.

This partnership between Talanta Finance and aBi Finance stands as a shining example of sustainable development in action. By combining financial support, innovative approaches, and a commitment to environmental responsibility, they are paving the way for a brighter future for smallholder farmers and communities in Northern Uganda.

As Timothy Jokene, the Managing Director of Talanta Finance, aptly summed up: “We are who we are today because of that simple gesture from aBi Finance.

“Together, Talanta Finance and aBi Finance are making a tangible difference in the lives of farmers and driving sustainable development in Northern Uganda.”