KOICA - Mango Fund Program for Small Business Innovation
About the Program
The KOICA - Mango Fund Program for Small Business Innovation is a joint program of between the Korea International Cooperation Agency (KOICA) and Mango Fund. The goal of the program is to foster industrialization of the Ugandan SME sector and to develop a sustainable and replicable social business model based on the experience of Mango Fund. The program has two major purposes:
- To increase access to finance for small businesses through tailored financial services.
- To increase the SMEs' capacity to grow via business advisory services.
Between 2015 and 2018, over the duration of the joint program with KOICA, Mango Fund plans to deploy $500,000 in loans to small growing businesses in Uganda. The program is addressed to SMEs registered in Uganda and operating in the line of value addition. The KOICA-Mango Fund program finances assets such as machinery and vehicles that increase the productivity of our clients.
- Edible oil refinery machine
- De-stoner machine
- Extruder machine
- irrigation systems
- Water tanks and water pump
- 92 horse power Mahindra tractor
- 5 ton truck for maize delivery
- Delivery van
Key figures as of July 2015
- Number of loans extended: 6
- Total capital disbursed: $115,266 or 318,863,000 Ugandan shillings
- 23% of the planned investment budget deployed within 6 months
- All clients’ payments are on time