By Aloysious Kasoma
Capital Funds to support Agroecological enterprises in Uganda and Kenya launched Agroecological enterprises will have access to funds to help them in their operations across the agricultural value chain and create new jobs for communities in the region.
Agroecology is a sustainable and social approach to agriculture that promotes the production of healthy and nutritious food while regenerating soil fertility, improving biodiversity (animals, plants, and microorganisms), and strengthening the livelihood of farmers and their communities.
The beneficiaries will access funds through getting capital of between $10,000 (Sh37m) and $50,000 (Sh185m) through direct loans and revenue share loans, tailored to the needs of the business, to be used for working capital and asset acquisition to grow revenue.
SHONA and Biovision Foundation on Thursday launched the Neycha Accelerator Fund in Kampala. It is expected to highlight and build the business viability of agroecological enterprises in Uganda and Kenya.
Speaking at the launch, Fabio Leippert, Co-Lead Policy and Advocacy, Biovision Foundation, said that through partnerships, agroecological enterprises in Uganda and Kenya will be able to identify and partner with growth-oriented Agroecological Enterprises (AEEs) in Uganda and Kenya, providing them with the capacity, capital, and connections they need to grow their impact and businesses.
“The Neycha Accelerator Fund is designed to address what AEEs in Kenya and Uganda need most to grow and scale their impact access to capacity building and suitable finance, the AEEs will be able to contribute to the transformation of food systems,” Fabio said.
Fabio explained that Neycha will advance food system innovators and entrepreneurs who are working toward a more regenerative and agroecological food production and contributing to a more holistic and circular agrifood economy in Uganda and Kenya.
Joachim Ewechu, SHONA’s CEO, said through the Neycha Accelerator Fund, the organisation plans to work with at least 20 agroecological enterprises to make at least 12 investments a year in qualifying agroecological enterprises in Uganda and Kenya.
“We are excited about the impact that the Agroecological Enterprises will have in East Africa to promote agroecology as a practice. The Fund’s model is unique, by combining capacity building with capital, the agroecological enterprises we partner with will be able to implement their learning during the program and not wait a long time to get the capital they need to do this,” Ewechu said.
