Uganda – Small and Medium Agribusiness Development Fund (SMADF) – September 2023
Richard Kidega, a 35-year-old farmer who grows maize and soya which he sells to Kamp Feed for the production of animal feed.
Richard is part of the Kok Can Ki Tic (work to deal with the poverty) farmers group. By being part of this farmers’ group, he receives training and a good price for the maize and soya beans.
With the extra income he has made, Richard has been able to pay for his children’s school fees, buy a motorcycle which he uses to transport the sacks of produce to the factory, a lawnmower and a solar panel.
The SMADF, registered and operating as the Yield Uganda Investment Fund, brings together public and private investors to provide innovative financial products to small and medium agri-business companies. Launched in 2017, the fund is financed by the Ugandan Pension Fund, the Finnish Church Aid Investments and the Soros Development Fund, and the European Union, whose funds are channelled through IFAD, and managed by Pearl Capital.
463 x 309
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