KAMPALA, Uganda—Eight local Small and Medium Enterprise companies from Uganda have received a total of 912,954 euros co-funding from SNV Netherlands Development Organization under the Innovation Against Poverty (IAP) Project phase2.
The Innovation against Poverty (IAP) project phase2, aims at reducing and to improve the living conditions of the poor people in the community relying on the private sector to execute this.
The eight companies were selected because what they do is inline or has the potential of fulfilling the objective of the project.
With this support, the beneficiaries will scale up their businesses and cause a trickledown effect on the livelihoods of the poor people in the communities they operate in.
The Country Director SNV Uganda, Michael O’mahang asked the beneficiaries of the project to utilize the funds appropriately and fulfill the intended outcome of the project and meet funders (Sida and BoP) expectations which is to support the private sector to come with solutions which will help the local people to find long lasting solutions to poverty.
He said the competition for the fund was tight because 384 companies applied for the fund in Uganda alone but only eight made it to the final selection which means that even what is expectations of them is high.
“We will work with you at each and every step of project implementation and our expectation of you is very high because we want you to get this right so that the funders will be impressed with the outcome and will be motivated to continue using the same approach to alleviate poverty among poor communities,” O’mahang said.
The companies that received the IAP funds included: Ento Africa LTD, a modern rearing and distributor of crickets foods who received 197,954 euros, Sky foods and Beverages LTD processor of brands of drinks and porridge received 100,000 euros, Yello Star produce and processors a processor of fortified nutritious food brands for low income children and mothers received 100,000 euros, Chap Chap Africa LTD that deals in scaling digital payments of basic goods received 120,000, Sanitation Africa LTD manufacturer of inclusive toilets, toilet materials, construction, emptying and manufacturing briquettes received 75,000 euros, Eco Group LTD manufacture of cooking stoves that use volcanic rock fuels received 120,000, WANA Energy Solutions that is scaling LPG cooking gas received 80,000 euro, and Pamoja Clean Tech BV that develop an entrepreneurial hub that consumes biomass electricity received 120,000euros.
The National Program Office, Inclusive Growth and Employment at the Swedish Embassy in Uganda, Paul Asimwe said in their foreign affairs mission, they do less of government to government support but deal mostly with nongovernmental organizations and Civil Society in creating opportunities for the needy.
He said they focus mainly on projects/programs that lead to inclusive growth, employment, those that that focus on environment and those that create market. In doing so the objective is to promote gender equality, increase productivity, promote use and development of sustainable energy and to provide global support to increase access to production.
“Listening to your presentation I was pleased to note that what you are doing tackles one of the issues that we seek to address. As you seen from the time you applied for the fund the competition is tight, I want to say that our expectations of you are also high,” Asimwe said.
The IAP project is funded by the Swedish international Development Cooperation Agency (Sida) and BoP