Some of the graduands of Business Accelerator Program pose for a photo with DFCU Bank and ADC officials after the graduation on Friday afternoon
The Agribusiness Development Centre (ADC) in partnership with dfcu bank and Rabo Foundation Friday 3rd , 2023 passed out the first cohort of the Business Accelerator Program (BAP).
The Business Accelerator Program, which started six months ago saw 30 women in agribusiness graduate with skills to develop and fully operate sustainable enterprises. The graduands were also exposed to peer and networking opportunities through learning visits to experts in different fields including but not limited to marketing, finance and cash flow management.
Josephine Mukumbya, the Executive Director at ADC, said the first cohort aimed at attracting women led or owned agribusinesses to get out of the ideation phase by offering them a business acceleration opportunity.
“Twenty one of the participants were able to work on their investor documents for pitching to a panel of judges, comprising of dfcu and other financiers; Six of the enterprises that pitched are already being closely followed up for financing and the rest shall be followed up beyond the program to close out any gaps that curtail successful linkages,” Mukumbya said.
Robert Wanok, the dfcu Bank Head Personal & Business Banking congratulated graduands for successfully making it to the last phase of the Business Accelerator Program.
“On behalf of all of us at dfcu Bank, dfcu Limited and Rabo Foundation, I extend heartfelt and well-earned success to each of you here today. You have the mandate to go out there and remain self sufficient, it is impressive to be ringing in such an accomplishment this early in the year. It is proof of your devotion to your dreams and visions, and it is also a source of encouragement to entities such as Rabo Foundation and ADC,” he said, adding: ““I would also like to greatly applaud the team and our partners both in vision and execution. We commend your commitment to the Business Development Program and its beneficiaries over the past months.
Because of your collective achievements, our country should and will be better – it is this hope that allowed us to commence the training for Cohorts 2 and 3 a few weeks back and it is what ultimately inspired everyone in the Program to work towards today’s success.”
Wanok concluded by reminding graduands of their mandate: to become self-sufficient and have the kind of longevity that will last generations; to create new jobs and enable socioeconomic transformation.
Speaking on the sidelines of the ceremony, Neria Kawuma Buyinza, a participant from Krystal Ice, an enterprise which also won the innovation award from the program, commended ADC for the training opportunity, noting that it was an eye opener.
“It helped us increase production, streamline finances and marketing components of our business,” Buyinza said.
Grace Katuramu, another participant and Managing Director at Pearl Teas, appreciated the partners for the efforts put in this program to support women.
“In terms of content, the cost of what you have put in us, it’s priceless. The opportunities we have had to meet other people is immense,” she noted
The Agribusiness Development Centre powered by dfcu Limited and Rabo foundation launched the Business Accelerator Program (BAP) on August 18th, 2022.
The themes under consideration over two years, are; key value chains; greening agribusinesses; Oil & Gas opportunities for Agribusinesses; Youth in agribusiness and to influence youth& women inclusivity in the leadership of at least 50% businesses at the end of the program.
William Sekabembe, the Ag. CEO and Managing Director of dfcu Bank, recently said the bank is committed to financing and transforming agriculture sector.
He noted that 15% of dfcu bank’s total loan book is within the agriculture sector.
