Funding for SMEs goes unlimited- #GrofinSGBFund

According to an analysis by Approved Index, Uganda is the most entrepreneurial country in the world. What the honor essentially means is the country now has the planet's highest proportion of people who have started businesses. The research shows that 28 per cent of its adult population started businesses in the last 42 months, which is almost twice as high as any other country in the world. Uganda's success, the report claims, is the result of a huge improvement in communication networks recently, which have linked up different parts of the country and connected it to the rest of the world.
Another REPORT has also ranked Uganda as the country with the most failing businesses a year. According to an article in the New Vision, Charles Ocici, the Enterprise Uganda executive director reveals that the rampant failure of starts up is owed to lack of desired skills on how to run their businesses effectively . A lack of sustainable capital flow comes in at a close second.

A lack of working capital for a business usually spells doom. It constrains the business from carrying out day-to-day operations like payment of employees. In some cases the business needs to branch out but, because of a lack of capital a business gets stuck, and once in a rut, the owners just wait for the business to die. There is always the option of getting credit from banks. But Banks loans are damn expensive with the CBR at16% the interest rates are currently ranging between 24 and 29%. There is also the issue of collateral to be provided to banks as insurance for the loan. Most start ups owners do not have much to put up to get the adequate funding they require.

Small and growing businesses are the second largest  contributor to GDP after agriculture and for sustainable development, there needs to be a long-term solution to the hurdles piled up high.

 Entrepreneurs will  have reprieve from these unending hurdles that has limited growth of small and growing businesses thanks to Grofin. They are launching first of its kind, uncapped and unlimited-life fund to support growth of small and growing businesses in Africa.


 The official launch of the GroFin Small and Growing Businesses (SGB) will be onWednesday 23 September 2015 at Kampala Serena Hotel .mark the Fund in Africa that aims to catalyse sustainable job creation through supporting small and growing businesses in Ghana, Nigeria, Uganda, Zambia, Kenya, South Africa, Rwanda, Tanzania and Egypt.
The GroFin SGB Fund seeks to provide an integrated solution of patient risk capital and end-to-end business support for SGBs. Each year the Fund aims to support up to 100 entrepreneurs, with an estimated average loan size of US$ 350,000. Over the next 10 years the Fund will target the creation of 47,000 sustainable jobs.
The launch, will host international representatives of the public, private and non-governmental sectors interested in learning how efforts such as the GroFin SGB Fund can spur inclusive economic growth through supporting Africa’s SME sector. Attendees will include:

The Honourable Shem Bagaine, Uganda’s Minister of State for East African Affairs,Mr. Günter Nooke, the German Chancellor's Personal Representative for Africa and the German Federal Ministry for Economic Cooperation and Development (BMZ) Commissioner for Africa ,and Dr. Margaret Blick Kigozi, Shell Foundation Trustee and President of the International Federation of Business and Professional Women in Uganda  among others who will attend.
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