The women led businesses put their learning to the test as they pitched in-front of a panel of six judges representing dfcu Bank, Truvalu, Plus Plus, United Social Ventures and BiD Capital.
Agribusiness Development Centre- ADC, a brainchild of the Dutch Rabo Foundation and dfcu limited has held a day’s long pitching session for the first cohort of participants that participated in their Business Accelerator Program (BAP).
The women led businesses put their learning to the test as they pitched in-front of a panel of six judges representing dfcu Bank, Truvalu, Plus Plus, United Social Ventures and BiD Capital.
The purpose of the pitching session is to attract investor firms for funding opportunities and/or linkages to finance seeing the enterprise leaders have been trained by different skilled and experienced trainers exploring topics pertinent to agribusiness management and acceleration like building a model canvas, marketing, financial and risk management to mention a few.
Ronald Kasasa, dfcu’s head of business banking says that these sessions show that the potential for Uganda‘s agricultural sector is being appreciated with an indication of increased capacity building.
“Most of the pitches by these women led enterprises have been looking for grants as opposed to loans. This is so because of the financing cost so the real question should be how the banks are coming in to finance agri based businesses while mitigating the cost of financing because sometimes the margins on agriculture are quite slim.” he adds.
Athea Ibembe of Apa Original Kisubi Tea limited, one of the pioneer beneficiaries of BAP says she is expecting positive feedback from the panel of investors. Her business needs a financial boost of $2,500 to buy an envelope tea bag machine to replace the one they have been using for the last 11 years.
She says “After participating in pitching sessions like this numerous times, I have found that investors look out for impact. For example; the impact your business has on the community you operate in through direct and indirect employment.”
Over 22 enterprises have pitched their ideas and hope to get funding as either grant or loan from the various panelists who are potential investors
The Agribusiness Development Centre launched its Business Acceleration Program (BAP) to its partners and stakeholders on the 11th of August 2022. to enable 350 agribusinesses (40% women led) to become self-sufficient, create new jobs and link at least 50% of these agribusinesses to financing and markets.
