Uganda’s dairy industry, a cornerstone of the economy employing 72% of the population, is set for a transformative upgrade. Pearl Dairy Farms, a major player in East Africa, secured USD 35 million in debt financing from the International Finance Corporation (IFC) and FMO to enhance operations.
The investment aims to revamp Pearl Dairy Farms’ powdered milk plant in Uganda and acquire a packing facility in Kenya. This move is expected to bolster the dairy sector’s infrastructure, benefiting over 15,000 local farmers by improving market access and profitability.
“This financing marks a critical milestone for Pearl Dairy Farms,” said CEO Amit Sagar, highlighting the company’s commitment to driving growth and excellence in the dairy industry. The initiative, supported by IFC and FMO, aims to scale impact, empower smallholder farmers, and enhance food security across East Africa.
Delphos Chairman and CEO Bart Turtelboom emphasized the broader economic benefits, noting how modernizing the dairy value chain can create significant returns for communities and countries alike. The financing not only strengthens regional food security but also builds resilience against economic shocks, contributing to sustainable agricultural development in East Africa.
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This development follows Uganda’s Dairy Development Authority’s recent adoption of a comprehensive policy aimed at boosting consumption, improving quality, and accessing new markets, underscoring the sector’s strategic importance in the region’s economy.
