SMEs in agribusiness to compete for 20,000 euros

Small and Medium Enterprises in agriculture are failing to progress due to lack of the right information which comes through networking, trainings, and knowledge transfer for one to grow their business

By Prossy Nandudu

Small and Medium Enterprises in agriculture are failing to progress due to lack of the right information which comes through networking, trainings, and knowledge transfer for one to grow their business.


In addition to the above some of the SMEs are not aware of procedures to follow when accessing finances because they are not prepared to access the available funds.

This is according to Humphrey Mutaasa, the business development manager of FIT Uganda, in an interview with the New vision about the upcoming ICCO Agri Business Innovation challenge where winners will be rewarded cash prices to boost their businesses.

"So the challenge innovation fund will address some of these constraints to SME growth because they will access training mentorship and will even be taken through the agribusiness booster like an incubation center to further develop their business models for better financing options," said Mutaasa.


Coffee farmers will also be in contention for the jackpot.  PHOTO/Prossy Nandudu

Mutaasa said that the challenge presents an opportunity for SMEs in agribusiness to showcase their innovations, products and the unique things that have been using in their businesses which can be natured to make them better so they can attract financing.

The challenge fund is being launched by ICCO Cooperation, an international Dutch development Organization this week, to kick start and boost innovative agri entrepreneurs in Uganda.

This is according to Alexis De Liedekerke of Enviu, another Dutch organization working with FIT as local organizers of the agribusiness innovative challenge.

In their applications, the SMEs have to show that their businesses can create money, employ others, and have innovations that could be nurtured to make them more productive.



Charles Mulamata (stripped shirt) explains to one of the farmers interested in taking up Aquaponics.This is one of the business ventures that could compete. PHOTO/Prossy Nandudu

"We want to invest in these people with a positive impact on farmers. The challenge is to find these through the products that they sell or service they deliver, how farmers can increase production and income and how are they working with the communities around them," he said.

The competition will attract close to 75 SMEs across the country from which 10 will be selected and then the final three winners will be drawn from the ten.

The first winner will walk away with cash prizes of up to 20,000 Euros, (about sh70m); the second 10,000 Euros (about sh35m) and the third 5000 euros (about sh17m).

In addition the winners will be taken into the incubation stage under the agribusiness booster for more training and interaction with experts in different areas but relevant to their businesses, added De Liedekerke.

Those interested will apply online or submit hard copies that can be downloaded or picked from FIT Uganda offices based in Nankulabye.

Application process starts this Friday until the July 31.

The target audience is SMEs or farmers who are into agribusiness and conducting business along the entire value chain.

"We don't want a farmer who is rearing pigs and stops at that; we want someone who rears the pigs, processes them maybe into sausages or any other product and then sells the final product in a way, employing a number of people in the entire value chain," he explained.

He added that those growing mangoes and have a challenge of accessing markets should be in position to demonstrate what technologies they are employing to prevent them from perishing.

Froukje Zwaga, the regional manger of ICCO said the challenge is important because entrepreneurs come up with business models that reflect an understanding of the local context.

"Our aim is to find agri businesses that can sustainably improve the profitability of small holder farmers."