Richard Byarugaba, Head of Finance at Bank of UgandaThe Bank of Uganda has been tasked to reveal the list of beneficiaries of the UGX1.3Trn Agricultural Credit Facility (ACF) so as to effectively assess the impact of this Fund.MPS on the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) raised the concern during a meeting held between COSASE and Bank of Uganda on 5th March 2026, during the consideration of the report of the Auditor General on the financial statements of the Agricultural Credit Facility (ACF) for 2023/24.Gideon Thembo Mujungu (Busongora South) asked for the success stories of some of the people that have benefitted from the Fund. However, BoU, expressed difficulties in sharing the list of beneficiaries, citing confidentiality as some of the beneficiaries include Members of Parliament.Richard Byarugaba, Head of Finance at Bank of Uganda, said: “When we give loans, the information about the farmer is protected, we do not give it easily, without their consent. We have publications you have seen in the media, where they give us permission, we publish. We do not put in the annual report pictures of farmers and their wealth, without their consent. The Minister of Finance and Budget Monitoring Unit, they publish a report about this farm every year and they put in pictures and names of farms that have benefited.”However, Mpindi Bumali (Persons With Disabilities Rep.) disagreed with Bank of Uganda’s decision not to handover the list of beneficiaries to Parliament on grounds of confidentiality, wondering what is confidential about people that use taxpayers’ money to grow their wealth but don’t want to be known.“I want to strongly disagree with my colleague when he calls it a confidential list. This is taxpayers’ money and the success stories can interest other members, other Ugandans to join. When I look at this, I have already seen the imbalance in the way this money has been distributed. And surprisingly, when the head of finance was concluding, he said, I cannot publish the beneficiaries because there are even my colleagues who are members of parliament,” Mpindi remarked.Byarugaba then expressed remorse for how he communicated, saying it could have made MPs misunderstand him and went on to reveal that MPs aren’t exempted from benefitting from the funds, since it is for all Ugandans in commercial agriculture, with the only individuals excluded from benefitting being the staff at Bank of Uganda.“I am sorry if I was misunderstood, but we shall give the list. There are over 3,000 beneficiaries that have accessed this money. The UGX1.3Trn that you have given and which was confirmed by Auditor General did not go to big people only, but every Ugandan who has a commercial enterprise can access this money,” he said.The post BoU Tasked To Reveal List Of Beneficiaries Of UGX1.3 Trillion Agricultural Credit Facility appeared first on Business Focus.