Oil Palm farmer Nsubuga planting a future with Stanbic Bank’s help

What the report says

Stanbic Uganda Holdings Limited has reopened its Kalangala branch after a refurbishment, with chief executive Mark Ocitti Ongom and Bank Chief Executive Mumba Kalifungwa among the officials who visited the Ssese Islands for the launch. According to The Observer, the move underscores the lender’s long-running presence in a community whose economy has been shaped by fishing and agriculture, especially oil palm farming. The branch is described as the first bank service centre on the islands, and the upgrade is presented as a renewed commitment to local enterprise.

The article uses the experience of Constantine Nsubuga, a Kalangala oil palm farmer, to show how access to finance has helped some island residents build larger businesses. Nsubuga said he began with two and a half acres in 1983 and has expanded over time to a 45-acre plantation, along with livestock, a home, a vehicle and a school. The report says he moved from relying mainly on coffee to oil palm because the crop provided steadier income throughout the year.

The Observer also says Stanbic supported farmers through the Ssese Oil Palm Growers SACCO and that the cooperative’s financing grew from Shs 30 million in 2019 to Shs 2 billion, reaching more than 1,800 harvesting farmers. Kalangala branch manager Lillian Akello said the bank’s role includes financial literacy and capacity-building, not just lending. The story places this within Stanbic’s broader Positive Impact Agenda and its wider goals for inclusive growth in Uganda.