Scipion works with largest private agricultural developer in Uganda to boost nation’s food security
Scipion is working with the largest private agricultural developer in Uganda to cultivate its farms and boost the nation’s food security.
Since 2016, the developer’s turnover has benefited from Scipion’s short-term trade finance facilities. On top of that, Scipion’s term-loan offering has allowed them to acquire 6,000 hectares of land, cultivate the land and purchase new buildings and machinery.
Since Scipion’s involvement, the developer’s land under cultivation has doubled in size each year. During peak season around 450 workers are employed and are provided with 3 full meals per day along with a good wage.
The developer’s rapid expansion has had a hugely positive effect on the local community. The group sources 80% of its maize and other products from local farmers, offering them a location to sell their produce at a good price as well as access to crop finance – to date, 45,000 farmers have benefited from loans.
The wider economic effects have attracted more people to nearby villages which in turn has enabled the once-forgotten areas to flourish in East Africa’s Food Basket.