Stanbic Bank Uganda is helping to reduce the financing gap in the agribusiness sector.

Melisa Nyakwera, Head Agribusiness at Stanbic Bank Uganda, spoke with the COVID-19 Business Info Hub on the banks’ initiatives to reduce the financing gaps for smallholder farmers and agribusinesses. 

Stanbic Bank Uganda’s initiatives to reduce the financing gap in the agribusiness sector

Stanbic Bank Uganda has the following initiatives to facilitate access to finance for the sector:

  • The bank uses the One Farm platformto profile farmers and agribusinesses. We understand their needs and provide solutions such as input financing, agronomy training, insurance, and information on markets.
  • Stanbic Bank Uganda is increasing access to affordable finance to the farmers through their SACCOs and farmer groups by lending to the SACCOs and farmer groups at a subsidized interest rate.
  • The bank provides several financial products to the sector, including short-term and long-term loans, invoice discounting, stock financing, and asset financing.
  • Using the Flexi pay wallet, clients receive and pay for services or commodities from one wallet to another at no charge.

Keep in mind that agribusinesses need to have in place good business records, plans and a clear strategy to access financing during these challenging times.

For more information call: 0800250250 or WhatsApp: 0770588623

What is the role of Stanbic Bank Uganda in the agribusiness sector?

Stanbic Bank Uganda’s agribusiness segment works with all customers within the agriculture space. We look at the value chain from input suppliers, smallholder farmers, aggregators, and processors. We also engage with non-government organizations (NGOs), development institutions and ministry agencies working together to make a difference. Our role is running through that whole value chain to understand the needs of different actors and develop solutions to meet the requirements. We ensure that the solutions help them achieve their needs, and in case they require long term support, we work and walk with them along that journey.

 

How is the bank facilitating access to finance for the agribusiness sector? 

The bank has several initiatives in place to facilitate access to finance for the agribusiness sector.

First, we’ve got a new initiative called the One Farm platform. Here, we partner with Agri-techs, who collect data from farmers and agribusinesses, analyze it to understand their requirements and provide solutions through the platform. Some of the services offered include input financing, agronomy training, insurance and information on markets. This initiative has helped to improve financial inclusion for several actors in the agribusiness value chain.

The bank has come together with several funding partners to provide affordable loans to Savings Credit and Cooperative Societies (SACCOs) and farmer groups.  SACCOs receiving these funds can offer affordable loans to their members as well. We are also helping the SACCOs and farmer groups digitize records for a faster lending process.  Funding partners include Agricultural Business Initiative (aBi), International Fund for Agricultural Development (IFAD) and United Nations Conference on Trade and Development (UNCTAD).

The third initiative is through the bank’s conventional offerings, which cut across the different value chain players from actual farmers, input providers to processors. Essentially, we have short-term and long-term loans, invoice discounting, stock financing, and versatile asset financing. We also have the Flexi pay wallet that enables users to receive and pay for services and commodities from one electronic wallet to another at no charge.

 

What can SMEs do to overcome disruptions resulting from the pandemic effects?

We all understand the impact of the pandemic, and we need to protect ourselves and keep safe. It means we have to go into the digital marketplace. Embracing digital tools will keep you safe and enable you to reach more customers than opting for face to face interactions.

Suppose businesses want to last and withstand the pandemic effects. In this case, they need good business plans, financial records and a strategy to follow through during this period. It will ease access to financing that they can use for operations to adapt to the current and future changes.

Financial institutions also need to play more in this space by supporting SMEs prepare the necessary records and plans to access the financing required.

 

For more information and access to Stanbic Bank’s Agri-banking Team;

Call: 0800250250

WhatsApp: 0770588623

Website: www.stanbic.co.ug

Visit any of our over 60 branches countrywide!

 

 


Learn how Commercial Agents in Uganda link agro-input SMEs to smallholder farmers and help both increase their incomes.

Northern Uganda – Transforming the Economy through Climate Smart Agriculture Market Development (NU-TEC MD) is a seven-year Foreign, Commonwealth & Development Office (FCDO) funded program to increase the incomes and climate resilience of poor men and women in northern Uganda. The program stimulates sustainable, pro-poor growth selected agricultural markets to improve the position of poor men and women within these market systems and make them inclusive for poor people.

Palladium, a global provider of positive impact solutions to the private sector, governments, and donors, implements the program on behalf of FCDO. The Commercial Agent Model (CAM) is one of the approaches that the NU-TEC MD program promotes as a win-win platform for the agriculture market actors.  The COVID-19 Information Hub details how the implementation of CAM has allowed small and medium enterprises (SMEs) to grow their businesses and increase farmers’ household incomes amidst disruptions of the pandemic.

The Commercial Agent Model (CAM) is an adjusted trader style designed to benefit farmers and off-takers. The model uses commercial agents to provide embedded services to farmers and aggregate produce for agri-businesses. The cost-effective model helps reach many smallholder farmers, including women and persons with disabilities. SMEs using the model incur less costs to source raw materials/produce. They have also registered a 75 per cent increase in sales due to the rise in volumes traded and higher quality raw materials sourced through agents.

Despite the benefits of the model, the pandemic has brought a lot of disruptions for businesses, and here is what SMEs are doing to stay afloat;

  • Process optimization is very critical at this time. Businesses should have an in-depth look into their operations, identify waste, eliminate them, and maximize resources like raw materials and staff time.
  • Seek information on how to adjust pricing because demand has gone down. It is now a very risky point because most companies react to reduce prices without considering the costs and margins.
  • Embrace opportunities for diversification in their business models. For example, if sourcing grain for the export market is a challenge, a business can add local food distribution.
  • Look out for new products or services lines. It means that if one business line is affected at least, the other keeps a business operating.
  • Mindset change on approaches such as mergers, partnerships and joint ventures. It is tough to remain afloat unless you’re able to network and collaborate with other businesses.

The program is discussing with; The Grain Council of Uganda (TGCU), Uganda Manufacturers Association (UMA) and Uganda Small Scale Industries Association (USSIA) to encourage their members to adopt the CAM model and pivot their businesses and remain in operation.

If you need guidance on adopting the model, contact us on Tel:  +256774040751 or jackline.kitongo@thepalladiumgroup.com.

What is the Commercial Agent Model (CAM)?

The Commercial Agent Model (CAM) is an adjusted trader style designed to benefit farmers and off-takers. The model uses commercial agents as points of sale for farmers. These agents link farmers to service providers for (inputs, mechanization, spraying, training, extension, offtake) and aggregate farmers’ produce. Agents ensure that the broader portfolio of embedded services to farmers is premised on a commercial approach and builds trusted relationships among the different actors. Most large and medium agribusinesses use the model to channel their products and services to smallholder farmers and distribute their finished products in the market. Over 80 businesses have benefited from this cost-effective model to deliver affordable and quality products and services to the most remote farmer.

 

How is the model facilitating growth among agribusinesses?

The CAM is the last mile model reaching many smallholder farmers, including women and persons with disabilities. Initially, the cost for outreach, especially to women and persons with disabilities, was high. By designing innovative mechanisms, we have enabled businesses to invest and easily reach out and recruit female agents. Below are the ways that SMEs realize business growth by using the model;

  • Using female agents has enabled SMEs to reduce losses because female agents source better quality grain and provide the required volumes as per the advanced funds.
  • Companies have also noted reduced sourcing costs as commercial agents do the grain traceability, storage, and transportation.
  • Businesses see cost-effectiveness because agents earn no additional income from the company other than commission and profit margin on their services.
  • Companies see an increase in sales of over 75% due to the rise in volumes traded and higher quality raw materials sourced.

The model encourages partnerships along the value chain; thus, actors can leverage each other’s advantage. Businesses need clear growth ambitions and expected benefits, analyze possible risks and find ways to mitigate them to build successful partnerships. Companies can access information on partnerships through training, mentorship and coaching. It will enable them to understand how to collaborate, create value and propel businesses.

 

What should SMEs do to stay afloat during this challenging business environment? 

Since 2020, we have been encouraging businesses to develop business continuity plans. We help them assess if they achieve the planned objectives and guide them on attracting external funding to implement the strategies. To stay afloat, here is what businesses need to do:

  • Process optimization is very critical at this time. Businesses should have an in-depth look into their operations, identify waste, eliminate them, and maximize resources like raw materials and staff time.
  • Seek information on how to adjust pricing because demand has gone down. It is a very risky point because most companies react to reduce prices without considering the costs and margins.
  • Embrace opportunities for diversification in their business models. For example, if sourcing grain for the export market is a challenge, a business can add local food distribution.
  • Look out for new products or services lines. It means that if one business line is affected at least, the other keeps a business operating.
  • Mindset change on approaches such as mergers, partnerships and joint ventures. It is tough to remain afloat unless you’re able to network and collaborate with other businesses.

 

How can SMEs integrate the model the business operations?

Agribusinesses working with smallholder farmers and would like to integrate the model in their operations can contact us for assistance on;

Tel:   +256 774 040751

Email: jackline.kitongo@thepalladiumgroup.com

Visit: https://thepalladiumgroup.com/


Optimizing digital tools to boost efficiency and productivity during the pandemic

Optimizing digital tools to boost efficiency and productivity during the pandemic

 

Michael Niyitegaka is a digital technology specialist and Program Director of Refactory at Clarke International University. He is engaged in digital skilling and developing solutions for the digital economy ecosystem in Uganda. The COVID-19 Business Info Hub spoke with Michael to understand his perspective on how businesses can use digital tools to improve business efficiency and boost productivity.

 

What digital tools can businesses use to improve workplace productivity during this period?

There are many digital tools, but any enterprise needs to think about team management tools during this period. Such tools will help businesses gain visibility and control of what staff are doing, especially now that most companies work remotely. Here are some tools that improve productivity at work:

Slack: Slack is valuable for communication among staff. It allows communication and quick exchange of information within a team. Slack integrates well with other tools.

Trello: Trello is a handy tool used in task management. It is a simple and intuitive tool for structuring tasks and enables a high degree of transparency in the team. It uses templates for task orientation and automation.

Google workspace: Google workspace allows you to get all work done in one place. Companies can use a range of Google productivity applications, such as the Google Calendar for scheduling, to keep everyone updated. The Google Docs application enables team members to create files and allows real-time editing and feedback using comments and suggestions.

Zoom: Zoom allows you to hold meetings, training sessions, and other events with remote team members any time from any device supporting the application. Businesses can save money and time on travel and still have real-time and even face-to-face (via video) interactions.

Digital payment: Transaction-oriented businesses need the integration of digital payment tools. These include mobile money, Visa, or Paypal payment services. It allows fast-tracking of sales and is convenient for customers. I encourage entrepreneurs to consider it.

It is vital for businesses to integrate convenient tools that bring out efficiencies and optimize available resources.

 

What can businesses do to improve the workers’ digital skills and proficiency?

Digital skills and proficiency allow workers to engage with the digital tools to be more productive. It enables workers to solve problems and innovate ways that can propel the business. Although most companies take digital literacy training for granted, it is necessary to improve workers’ digital skills and proficiency. Companies have to invest in digital literacy to leverage value out of introducing digital tools and fully appreciate the capability of the technology they possess. I recently was doing training for one entity, and they were amazed at how much they are paying for but how little they are using.

 

How can SMEs access training on digital literacy and skilling?

There are several training resources available on digital literacy and skills. For business, I recommend the digital skills framework used by  International Computer Driving License (ICDL) because it is a global framework used across different markets.

We are putting together a training program targeting how SMEs can integrate digital literacy in the operations at Refractory. The program will start in August 2021, and Clarke International University will deliver the training. We will also set up a separate program called the Executive Catalyst to help business owners understand how to integrate and use technology to grow their business.

 

To learn more about digital tools and our programs; 

Call: +256772672300

Email: mniyitegeka@ciu.ac.ug


Six ways to improve the customer experience

Six Ways to Improve the Customer Experience

We know that it is challenging to operate a small business in the existing environment, and it may be tough to find or maintain customers. Despite this, there are things you can do to keep customers coming back for more – and many of them can be done from home. Read/watch to see six ways you can improve the customer experience.

Maintaining a loyal client base is significantly cheaper than investing in new customers. An improved customer experience can result in creating brand ambassadors among your existing client base. Satisfied customers will spread the word about your business to his or her networks, leading to new customers, as most people make purchases from businesses based on recommendations from friends or family members.

  1. Respond quickly to inquiries from your clients. A fast response time will make your customer feel valued. A customer that feels valued is more likely to become a loyal customer.
  2. Implement customer feedback. Ask for customer feedback and then be sure to incorporate suggestions into your operations – this fosters trust and healthy relationships. A good suggestion may also help improve your bottom-line.
  3. Train employees to listen well and take a proactive approach. Employees may need your guidance on how to engage with customers – it is important that the customer feels heard. Employees should also take a proactive approach to interact with customers – ask them to think about what products or services they can offer on behalf of the business to solve customers’ problems or make life a little easier.
  4. Keep your clients engaged across their client life cycle. The client life cycle includes the discovery stage, education phase, buying stage, post-sale interaction, and advocacy. While many businesses focus on the first three stages, the final two stages are equally important. For example, pretend you are operating a business selling electronic items, and a client buys a phone from you. After he or she makes the purchase, assure them that you are available if they need help operating the phone. This effort will mitigate any uneasy feelings the client might have about making the purchase and motivate them to recommend your services to her networks.
  1. Use positive language while interacting with clients. Interacting with clients in a positive language will help you to connect with them on a personal level. Most clients are sensitive to attitudes channeled through interactions so its crucial to use language that takes into consideration of the client’s emotional state and expectation. Positive language can enhance customer engagement and satisfaction hence creating a positive customer experience.
  2. Reward loyal customers. By rewarding loyal clients, you are compelling them to repeat their behavior. This behavior translates to more business for you. Rewarded customers can also act as excellent referrals for your business and increase your brand awareness in the long run.

Try some of these tips to leverage your current client base to generate more sales and leads for your business. Let us know how it goes at covid19businessinfohub@gmail.com.


Uganda National Bureau of Standards Reduces Quality Mark (Q-Mark) Product Certification Fees

On 14th July 2021, the  Uganda National Bureau of Standards (UNBS) announced a reduction in product certification fees for enterprises seeking to acquire the Quality Mark (Q-Mark). The reduced costs will promote the implementation of quality standards by enterprises. The UNBS recently intensified pressure on local manufacturers, especially food processors, to get product certification for their goods before going onto the market. The aim is to improve local consumers’ safety and ensure that Uganda products gain the confidence of international consumers.

The price reductions will help micro, small and medium enterprises (MSMEs) and the private sector recover from the devastating effects of COVID-19 by cutting on the current costs of businesses operations. It also aligns with UNBS mandate to promote Buy Uganda–Build Uganda (BUBU) and enhance Ugandan exports to the regional and international markets.

Below are the new product certification fees:

  • UNBS is phasing out initial audit and surveillance fees of UGX 500,000. Enterprises will now access these services free of charge.
  • Micro and small enterprises will pay a reduced fee of UGX 500,000 (down from UGX 850,000) for a permit to use the Q-Mark for a period of 12 months.
  • Medium and large enterprises will pay a reduced fee of UGX 1,000,000 (down from UGX 1,300,000) for a permit to use the Q-Mark for a period of 12 months.
  • Batch certification (certificate of conformity) testing fee will be UGX 500,000
  • Manufacturers of bottled water, alcoholic beverages, and other soft drinks will now pay a standard certification fee of UGX 1,000,000 per brand for safety and quality monitoring instead of paying different fees for each product category.
  • The period to pay for fees is now 21 days from the payment notice date.

Enterprises will continue to pay for product laboratory testing fees depending on specific parameters such as chemical composition or physical characteristics to be analyzed.

How to apply 

About UNBS

The Uganda National Bureau of Standards (UNBS) is a Government Agency responsible for developing, promoting, and enforcing national standards in protecting Public Health and Safety and the Environment against harmful and sub-standard products.

 

For more information, contact:

Uganda National Bureau of Standards,

Plot 2 – 12, Bypass Link, Bweyogerere Industrial & Business Park,

P.O Box 6329 Kampala, Uganda.

Telephone: 256 417 333250

Toll-free line: 0800133133

E-mail: info@unbs.go.ug /ed@unbs.go.ug

Website: www.unbs.go.ug

 


Here is What You Need to Keep in Mind When Seeking a Strategic Partnership

Strategic partnerships are one-way businesses can create more value and stay afloat during the complex business environment caused by the pandemic. Building and managing dynamic partnerships is critical for success but can be challenging. Here are a few things to keep in mind as you look for strategic partnerships:

  • Choose partners that have clear growth ambitions as a business
  • Set clear objectives for the partnership and track progress against them
  • Analyze possible risks and identify ways to mitigate them
  • Seek training, coaching and mentorship to guide decision making

Focusing on these priorities will help you build partnerships that will thrive and create value for your business.

 

To access training on partnerships contact:

Stanbic Business Incubator Limited

Phone: 0312226700

Email: incubator@stanbic.com

 

The Stanbic Business Incubator Limited (SBIL) is a private company duly incorporated under the Laws of the Republic of Uganda. The Incubator started in 2018 as an initiative of Stanbic Bank to support and nurture SMEs to prepare for and harness business and growth opportunities.


Call for applications to the Stanbic Business Incubator Enterprise Development Program starting August 2021

Call for applications to the Stanbic Business Incubator Enterprise Development Program starting August 2021

The Stanbic Business Incubator, in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)’s Employment and Skills for Development in Africa (E4D) initiative, invites applications from Uganda’s Micro, Small, and Medium-Sized Enterprises (MSMEs) to participate in an enterprise development training program starting August 2021. Participants will have the opportunity to learn from experts on various topics, including business planning and analysis, innovation and human-centered design, procurement, contracts and bid management, sustainability and the future, marketing and branding, quality management and standards, health and safety compliance and corporate governance.

The three-month program will be conducted virtually and will consist of both self-study and online live sessions. The call targets enterprises in the following sectors:

  1. a) Tourism and hospitality industry, including restaurants, tour guides and operators.
  2. b) Companies active in green sectors (such as renewable energies, energy-efficient products, environmentally friendly transport or electromobility, organic/sustainable agriculture, fisheries, sustainable forestry, recycling, energy and water-saving technology).
  3. c) Manufacturing and value addition, agribusiness, trade, retail and distribution of agricultural inputs and products, food and beverages.

 

Why should your business enroll?

Stanbic Business Incubator is aware of the struggles faced by businesses in the current pandemic. It is committed to ensuring small business survival through this program. Therefore, successful applicants will benefit from:

  • practical self-learning portal to build their knowledge and skills
  • Professional business coaching for the program period to support business growth
  • Live online training and peer learning from industry experts and business practitioners
  • A wealth of market opportunities, funding and joint ventures shared from our vast networks
  • Linkage to Stanbic Bank product offeringswith a recommendation for going through the program and a certificate of completion

 

Who is eligible to apply?

The program is open to businesses that:

  • Are legally registered with Uganda Services Registration Bureau (URSB) and in operation for at least one year
  • Have five employees or more with at least two on a full-time basis
  • Have average turnover of UGX 30 million and above.
  • Demonstrate ability to scale and create jobs
  • Commit to attending for the entire three-month program period

Women-owned businesses are encouraged to apply.

 

How to apply

Interested MSMEs must express their interest by applying through https://survey.zohopublic.com/zs/evRKz0.

 

Application deadline: 10th August 2021

For details contact Stanbic Business Incubator on: 

Phone: 0312226700

Email: incubator@stanbic.com

The Stanbic Business Incubator Limited (SBIL) is a private company duly incorporated under the Laws of the Republic of Uganda. The Incubator started in 2018 as an initiative of Stanbic Bank to support and nurture SMEs to prepare for and harness business and growth opportunities.

 


How AgroDuuka Uganda Limited's online business operations has enabled them to thrive during the pandemic period

How AgroDuuka Uganda Limited's online business operations has enabled them to thrive during the pandemic period

AgroDuuka Uganda Limited is an online-based company that deliveries affordable and healthy groceries to the market. The company has intensified its online marketing to thrive during the season. Basil Mwotta the Chief Executive Officer interacted with the COVID-19 Business Info Hub and shared how they are innovating to get things done during the pandemic.

 

Tell us about yourself and what you do?

My name is Basil Mwotta, an agriculture enthusiast. I am the Chief Executive Officer of AgroDuuka Uganda Limited. Established in 2017, the company helps farmers find a credible and reliable market for their farm produce. We also deliver groceries to several clients, including homes, hotels, restaurants and marketplaces. Our suppliers include several smallholder farmers from aggregated communities across Uganda. We have our headquarters in Kampala, with operations in Mpigi, Mukono, Wakiso, Bukedea and Sheema districts.

 

What is your level of participation within the agribusiness sector?

Our level of participation is within the supply chain from the farm to the market. We work with registered farmers from whom we source produce. We register farmers by capturing location, the type of crops they grow, quantities, and quality. Apart from offering direct market to the farmers, we also link them to other buyers, provide them with market information and educate them on the transport costs to enable them to make an informed decision. Our registered farmers receive training on good agriculture practices and modern farming methods to better their yields and productivity. In 2019, we hosted an agriculture campaign, in Mpigi, in partnership with the Buganda Kingdom, where we trained over 1,200 farmers on modern farming methods and technologies.

What are you doing differently as a business to stay afloat during the pandemic?

The pandemic presented an opportunity for us to intensify our digital marketing, and we have been able to increase the range of our product offering. With the movement restrictions currently in place, we are getting more inquires and customers.  Our delivery volumes have increased by 20% during this period because of the growing awareness of digital channels.

However, the inter-district travel restrictions introduced by government during this lockdown have presented a challenge. Our field staff cannot efficiently conduct a physical quality inspection of the farm produce when the farmer sends a notification for produce to sale. So, we are currently engaging with the district authorities to access movement permits to continue our operations.

Although demand for our products and services is increasing, we have not embraced the market opportunity entirely simply because it requires funds to increase the number of farmers we source from, rent more warehouses and employ more labour. Therefore due to limited access to funds for expansion, we have restricted our coverage areas and concentrated on regular deliveries to manage product storage issues. We are also partnering with boda boda owners to make quick and timely deliveries.

 

What advice do you have for other entrepreneurs during this pandemic period?

Uganda has many entrepreneurs, but many businesses collapse before making it to the third year. It goes back to the issues of the resilience of the entrepreneurs or how patient they can be to pull through challenging situations. Entrepreneurship is hard, starting a business is hard, and it is even more difficult with the current pandemic. Therefore I invite SMEs to be resilient, hang in there and look for ways of surviving and breaking even. It is not time to run away from the business.

The government and other stakeholders need also to support entrepreneurs since they create employment and bring services to the people. Stanbic Business Incubator is doing a fantastic job to train these entrepreneurs on financial literacy, business management and marketing. I call upon banks to provide affordable financing for entrepreneurs to enable business growth and expansion.

Lastly, I would like to thank you for this opportunity, and let’s continue supporting SMEs in Uganda.  

 

For deliveries, contact:

Tel: +256 705 236369

Email: agroduuka@gmail.com


Register now for the Youth Ideathon for a chance to win up to UGX 100 million for business investment

Register now for the Youth Ideathon for a chance to win up to UGX 100 million for business investment.

The United Nations Development Programme (UNDP) Uganda, in partnership with the National Association of Student Enterprises (NASE), invites youth with entrepreneurial aspirations to register for the Youth Ideathon. The Youth Ideathon aims to support young people to develop and refine ideas that can solve some of Uganda’s most significant challenges during the COVID-19 pandemic.

Youth can submit innovative ideas for products, services and solutions to address challenges in the following sectors; Health, Agriculture, Information Communication Technology (ICT), Tourism, Mining, Renewable Energy, Manufacturing, Creative Industries, Smart Cities and Urban Development.

 

Why should you participate in the Youth Ideathon?

Youth with successful ideas will benefit from the following:

  • Chance to win seed investment up to UGX 100 million
  • Access to mentorship and training
  • Networking opportunities
  • Marketing of your products and services
  • Co-working spaces
  • Business development services
  • Legal advisory and support

 

Who is eligible to participate?

Eligible applicants should have ideas that meet the following requirements;

  • Outline a customer problem and include a clear suggested solution
  • Include details of the target customer segment and the potential market opportunity
  • Fall under one of the above-mentioned sectors
  • Be the entrepreneur’s own innovation/creation.

 

How to register

Complete the registration form and submit a business profile via the link https://undp.nase.co.ug/participant-registration/

Deadline: 25th July 2021

For more information contact;

Tel: +256 708 080 008

Email: info@nase.co.ug

Facebook –  https://www.facebook.com/NASEUganda

Twitter –     https://twitter.com/NaseUG?s=09

Visit –          www.undp.nase.co.ug

 


Venture Capital for Africa (VC4A) is now accepting applications for the 2021 Venture Showcase

Venture Capital for Africa (VC4A) is looking for eight innovative, high-growth enterprises to showcase to the global network of Africa-focused investors. The applicants should be operating in Africa and looking to raise funds in the range of UGX 5 billion and UGX 35 trillion.

VC4A strengthens the global startup community by connecting entrepreneurs’ scalable businesses to knowledge networks and funding. Since 2017, the VC4A Showcase program has impacted 80 scale-ups across the continent, resulting in over UGX 500 trillion business deals and funding. Building on this success, the ‘VC4A Venture Showcase – Series A’ has become a central way to support investors and provides an opportunity to introduce enterprises to Africa’s early-stage investment space.

 

How will successful applicants benefit?

As part of the program, successful applicants will get the following benefits:

  • Recognition as 2021 VC4A Venture Showcase entrepreneur
  • Participation in the VC4A Venture Showcase deal room, including 200+ early-stage investor organizations
  • Mentorship and technical advice directly from the angel investors and venture capital fund managers
  • 30-minute deep-dive session with investors in a private room
  • 3-minute virtual pitch featured at the Africa Early-Stage Investor Summit  in November 2021
  • Access to an alumni network and partner events and fundraising opportunities

 

Who can apply?

The Venture Showcase Series A is open to companies that meet the following requirements:

  • For-profit and registered as an independent legal entity
  • Have a product or service available on the market that generates revenue
  • Product or service is innovative, and have a business model that is new, disruptive and designed for scale
  • Have a very strong management team of at least three people
  • At least one of the founders has an African nationality

 

How to apply

Eligible companies can register and complete the application here. 

Deadline: 24th July 2021

For more information:

Visit https://vc4a.com/vc4a/2021-vc4a-venture-showcase-series-a/