Oxfam and Open Capital have announced they are partnering up to provide much-needed business development support services to Ugandan small businesses. The program seeks to help these businesses define actionable growth strategies, raise capital, and develop robust organizational processes, among others.
The two firms aim to significantly increase the number of successful investments into high-potential Ugandan SMEs and improve performance, resilience, and growth prospects.
Open Capital Advisors is a management consulting and financial advisory firm that drives growth, enables investment, and builds markets across Africa. The company helps businesses, investors, development partners, and the public sector to identify opportunities and deliver unique, impactful solutions.
Launched in 2010, Open Capital has completed over 1000 engagements across 25 countries in Sub-Saharan Africa. It has also raised more than $1 billion in capital for impactful businesses across the continent.
Businesses that meet the criteria will receive expert support on a risk-sharing basis to prepare for growth and investment, and access to a network of more than 200 investors interested in East Africa.
Business development support for Uganda
To be admitted into the program, interested Ugandan small businesses must meet the set criteria that include the following.
The businesses must be located anywhere in Uganda, and operate in any sector other than primary health care, education, and extractives.
The program will only admit businesses that have a minimum of two years of existence and should be registered as a for-profit organization with revenues of between $100K and $1.2 million
The entrepreneurs must also be socially committed to the business, whose activities should;
- Have substantial opportunity to scale
- Generate income and/or employment for the Bottom of the Pyramid, and/or
- Are at the benefit of women and/or youth and/or farmers, and/or
- Strengthen the market position of suppliers
According to the firms, the ideal business for this program includes those that could benefit from business support. This encompasses all the support needed to prepare, plan for growth, and secure investment, including:
- Refining and developing business strategies to support resilience both during and after the pandemic
- Reviewing and prioritizing alternative strategies for growth
- Developing robust operations to manage the business at scale
- Developing investor materials such as business plans and financial models
- Developing effective talent strategies to recruit, motivate, train, develop and retain staff
How to apply
Ugandan SMEs interested in joining the program are required to submit their applications directly to the two firms. According to Open Capital and Oxfam, the applications will be accepted on a rolling basis.