By Our Reporter
Following the successful launch of the Business Accelerator Program (BAP), dfcu Bank and the Agribusiness Development Center (ADC) have officially kicked off training of the first cohort of the Program’s successful business owners.
A brainchild of The Agribusiness Development Centre powered by dfcu limited and Rabo Foundation, the Business Accelerator Program is a 4-month program focused on the growth of agribusiness enterprises that have moved from the ideation stage and are ready for scale.
The program seeks to enable 350 agribusinesses (40% women-led) to become self-sufficient & create at least 350 new jobs in the following categories: Agro Marketing, Processing, Production; Agro Forestry; Agro Tourism and Agri- support services like Agritech; Veterinary; Input supply; Extension Service.
The training, which shall run for 4 months, will utilise a visual modelling method known as The Business Model Canvas (BMC) – an excellent strategic management thinking tool that helps entrepreneurs in planning and developing new or redesigning existing business models – to build competitive business models.
At the end of the 4 months, the participants shall have acquired among others, the skills & tools to support in Business strategic positioning & Business model validation, Branding, Accounting and Tax Advisory as well as Linkages to affordable financial services.
Addressing the participants, dfcu Bank Executive Director and Chief Commercial Officer William Sekabembe noted that Business Acceleration Program (BAP) will build the capacity and investment readiness of its beneficiaries, enabling them to access financing from investors and financial institutions.
“Literature shows that women in Uganda make up to 52% of the labour force and are an important talent to help Uganda meet its development goals, especially in entrepreneurship and micro, small and medium enterprises growth. However, it is generally known that women face more challenges than men in starting, managing, and growing their enterprises as they are more likely to be impeded by a lack of the necessary capacities, skills, and resources. To this end, dfcu has worked closely with ADC to create a Business Accelerator Program whose main objective is to support businesses like yours to improve and attract the necessary market and financial linkages for growth and sustainability,” he said.
The Business Accelerator Program alumni will also benefit from the dfcu Bank Small and Medium enterprise (SME) agribusiness value proposition which includes affordable transactional banking, financing as well as other capacity building programs.