Small and Medium Enterprises in agriculture have been advised to join the Alliance for a Green Revolution in Africa (AGRA)s Deal room a platform that brings together SMEs in Agriculture and investors interested in financing agriculture related projects.
The call was made by AGRAs President Dr. Agnes Kalibata during the launch of the 2020 Agribusiness Deal room for African countries which will take place between 8th and 11th September attracting a number of investors.
Dr. Kalibata said that the Deal room is conducted every year, during the Africa Green Revolution Forum (AGRF) in different countries, but due to the spread of COVID 19, the one week forum will be a virtual event and will be hosted by the government of Rwanda.
Kalibata said that the Agribusiness Deal Room platform will drive African-led and inclusive investments in Agriculture.
“Governments want private sector to succeed, from SMEs through to large enterprises to build national and continental food security and prosperity. We however have to support our SMEs, especially women entrepreneurs to find these growth opportunities Kalibata said.
She explained that the Deal Room will facilitate close to 200 companies, 15 African governments and over 50 investors and financial institutions.
For Ugandan Agribusinesses to participate, the Uganda country manager for AGRA, Dr.John Jagwe said they are working with Uganda Investment Authority and other government agencies to prepare SMES in need of funding so as to make it to the dealroom.
Dr. Jagwe said that other agencies being brought on board include the Uganda Development Corporation, Uganda Development Bank, Private sector foundation among others.
We bring on UIA because it has the mandate to attract investment into the country and is working with other agencies like UDC, UDB to help government make key investment decisions within Agriculture. When we bring them on board, we shall be joining efforts to make very accurate agriculture investments, said Jagwe.
To help Ugandan agribusinesses reach the dealroom, Jagwe said they are working with organizations like the Commercial Agriculture for Smallholders and Agribusiness (CASA) to identify challenges failing the two parties (Agribusinesses in need of funding and investors) from meeting to make better investment decisions.