In an effort to grow its clientele base, Housing Finance Bank targeted the Agricultural Sector a key sector from which the highest proportion of the population derives its income. Housing Finance Bank Partnered with ABI Trust to develop new products and improve access to financial services in the Agricultural Sector in Uganda.
As the leading consultancy firm in developing financial products and services, FRIENDS Consult LTD was contracted to develop new Agricultural Finance products that would meet the needs of the banks clients and bolster growth of the agriculture sector through financial Inclusion. FCL executed the following tasks;
- Improvement of existing products and recommending new ones for agribusiness financing.
- Improvement of appraisal and loan administration skills for financing agribusinesses and recommendations on systems and structures to support delivery of financial services to agribusinesses
- Facilitated risk management innovations.
Housing Finance has since rolled out its Agricultural Loan Product that meets the needs of the Agricultural Sector and significantly growing the loan portfolio of the bank.