Mango Fund Annual Retreat

The Mango Fund team had its annual retreat on the shores of Lake Victoria on December 7 and 8 at the Serenada Eco-Resort. This was a great opportunity for the team to spend quality time together and relax after an extremely busy year. In terms of activities, team members overcame their fear of heights at the adventure club (please see the photos below) and supported the environment by planting a Mango Tree. 

We look forward to continue building on our 2016 momentum and wish all our clients and partners happy holidays. 

 

KOICA Visit and Workshop

Mango Fund is pleased to have KOICA as a funding partner and, from 4th to 7th July 2016, Mango Fund hosted a KOICA Team from Korea during their annual visit to Uganda. During this visit, a Workshop focusing on the areas of Marketing and Financial Reporting was held where 22 representatives of the KOICA-Mango Fund funded businesses were in attendance. The Korean-based KOICA Team, not only had the opportunity to engage closely with the Mango Fund Team on the future of their partnership, but also had the opportunity to visit several businesses that the two organisations have jointly funded.

Technical Assistance Partnership

One of Mango Fund's core objectives is to provide high quality Technical Assistance to Entrepreneurs. In this regard, Mango Fund is excited to announce that, in June 2016, Memorandums of Understanding (MOUs) were signed with two highly qualified Consultants to offer Technical Assistance (TA) in the areas of Financial Management and Accounting to Mango Fund clients. This is one of many steps by Mango Fund in capacity building of its clients to enable the Entrepreneurs manage their businesses professionally, profitably and with long-term sustainability.  

 

Following the first phase of TA provision, Recipients have already attested that the TA they received has enabled them improve their record keeping systems in their businesses. The Entrepreneurs now practice systematic recording, reporting and analysis of the financial transactions of their businesses by following rules and regulations such as the Generally Accepted Accounting Principles (GAAP). A number of the Businesses are expected to graduate to a computerized Accounting system over a period of one year with the aid of Mango Fund and the TA Consultants.

Partnership with AAA

The Mango Fund team is thrilled to announce that it signed a sourcing partnership with the Ugandan Chapter of the Africa Agribusiness Academy (AAA). AAA is a pan-African business platform for small and medium-sized agrifood enterprises. AAA supports these Entrepreneurs by offering capacity development & training opportunities, marketing, communication & networking support as well as by facilitating the collaboration and mutual learning of all Members. 

As part of this partnership, AAA will assist Mango Fund in identifying clients in the Agri-business sector and provide Technical Assistance, where possible, to new and existing Mango Fund clients. Both organizations are looking forward to working together in this newly established partnership.

Workshop on Asset and equipment Financing hosted by USSIA

Uganda Small Scale Industries Association (USSIA), whose mission is to enhance the development and competitiveness of micro, small and medium scale industries is a key partner of Mango Fund. Mango Fund often participates in events hosted by USSIA for its members and, in May 2016, Mango Fund conducted a training on Asset & Equipment Financing for the benefit of USSIA Members with the aim of educating Members on this often misunderstood form of financing. This was also a great opportunity to showcase Mango Fund's service offering to USSIA Members and to meet budding Entrepreneurs. We look forward to continuing to support USSIA members in Uganda.

Gulu Office Opening

On 22nd April 2016, Mango Fund officially opened its Gulu office during a prestigious occasion attended by a representative of The Resident District Commissioner of Gulu, Mango Fund Clients in the Northern Region and several Mango Fund partners. Mango Fund’s choice to expand its footprint in the wonderful town of Gulu was premised on the vast opportunities and the bright future seen in the fast growing economy of Gulu. 

Generation Agripreneurs Summit 2016

Mango Fund participated in the Generation Agripreneurs Summit 2016 which was organised by the American Chamber of Commerce (AmCham) between 19th and 21st April 2016 in Kampala. AmCham Uganda is affiliated with the U.S. Chamber of Commerce, Washington D.C., and was founded by American investors in Uganda with a mission “to foster greater cultural understanding, cooperation and dialogue between Ugandan and American businesses and professionals in order to promote strong commercial, economic and trade ties”. Mango Fund was proud to participate in the Summit and had an exhibit where it was able to display its products and meet with a wide range of Entrepreneurs and potential business partners. The conference was well attended and filled with highly interesting topics in the Agricultural space where Mango Fund is an avid player.   

 

Mango Fund in the Generations Agripreneur Expo 2015

Last Tuesday and Wednesday our team took part in the Generation Agripreneur Expo organized by the American Chamber of Commerce Uganda. We talked to over 200 entrepreneurs and visitors, we met a number of potential clients interested in products made by our investees, and we established a couple of promising partnerships.

During the two days of the expo we had a pleasure to exhibit products of some of current clients. Our showcase included products of Bee House Products, producer of honey and beekeeping equipment, K-Roma, wine and juices, SEB Engineering, metal fabrication, Don de Dieu, apparel producer, and Definition Africa, apparel and souvenirs.

During the second day of the Generation Agripreneur event, Elisabeth Lindow, Director of the Mango Fund's Women Entrepreneurs Initiative, took part in the discussion panel "The Economics of Business". Liz emphasized that financial institutions working with entrepreneurs need to deliver flexible products that fit production and sales cycles – often different for farmers and manufacturers.  – Debt is a long term commitment. Financial institutions and businesspeople need to learn how to work together not only when the business goes well but also when challenges occur – said Elizabet Lindow from Mango Fund.

New investments in April: Family Diet and second facility for Teefe Plastics

This month we invested in two companies: Family Diet, a grain processing business new to our portfolio, and Teefe Plastics, a plastic recycling company which got already its second loan with Mango Fund.

Family Diet's rice and soya-based products.

Family Diet Ltd. is a grain processing business established in 2002 run by Isa Wamala. The business primarily process soy based products in 7 varieties and its supplies to over 100 outlets in Kampala and other districts. Moreover, the company also supplies soy-based animal feed.  Mango Fund financed a purchase of 2 machines to expand the production capacity of the business.

Teefe Plastics Ltd. was established in 2009 by Christine and Robert Mawanda. Mango Fund gave them their first loan in 2012 to cover the purchase a second recycling machine to boost their production capacity.  Now Christine and Robert came back to Mango Fund to finance another recycling machine.

New businesses in our portfolio: K-Roma and Kabela Investments

We are happy to announce two new businesses in our portfolio: K-Roma, the largest local wine producer in Uganda, and Kabela Investments specializing in land tillage and crop farming. 

Bella Wine, K-Roma’s major brand. 

K-Roma, operating since 2002, is the largest local 100% organic wine producer in Uganda. Their high-quality products are made from tropical fruits, grapes, and hibiscus. K-Roma’s major brand, Bella Wine, is sold in nearly every supermarket in Uganda and it is also exported to Rwanda, Tanzania, and Kenya. With Mango Fund K-Roma plans to expands its production capacity. 

Kabela Investments Ltd.  is a farming business that specializes in land tillage and crop farming in Northern Uganda. Mango Fund is financing a purchase of a new tractor to expand Kabela Investments’ ability to deliver high-quality tillage services. 

Two new investments in the West of Uganda

We are excited to announce two new investments in the West of Uganda. This month we invested in Rwenzori Best Loaf Ltd., an established bakery, and in Yahabuke Ltd., a maize milling company, both based in the Kasese district. 

Rwenzori Best Loaf Ltd., established in 1989, is the largest industrial bakery in Kasese district serving towns such as Bwera, Kasese, Fort Portal and entire Bukonzo West and East County. A strong business with growing sales supply, distribution, and revenue with Mango Fund plans to improve its margins. 


Yahabuke Ltd. is a maize milling company in western Ugandan town of Kasese that started its operation in 2007. Yahabuke started as a small maize milling company with its initial customers being schools in neighboring districts, the company has grown into one of the biggest maize milling brands in the region


Yahabuke Ltd. is a maize milling company in western Ugandan town of Kasese that started its operation in 2007. Yahabuke started as a small maize milling company with its initial customers being schools in neighboring districts, the company has grown into one of the biggest maize milling brands in the region

The products of Yahabuke Ltd. 

Fellowship opportunity with Mango Fund - Investment Fellow

Investment Fellow opportunity with Mango Fund and Engineers Without Borders Canada! We are looking for a young professional with experience in financial analysis, due diligence and marketing research. Apply by 6th of February directly though the Engineers Without Borders website

Our investee KadAfrica about youth employment in Forbes

Today Kad Africa, one of Mango Fund’s investees, was featured in an article by Forbes describing ways of promoting youth employment in Africa. In the article you can find information how Eric Kaduru helps women in Uganda increase their incomes from $3 to even $50 per month. His recipe is sustainable passion fruit farming accompanied by capacity building trainings. 

Women in the US can help mothers, wives, and sisters in emerging economies to make their lives better

Women in the US and the rest of the Western countries hold immense financial resources in their hands, especially when compared with the situation of women in emerging economies. This wealth gives them more chances to give, and to invest in fellow mothers, wives, and sisters in Latin America, Africa or Asia, and give them opportunities to work and make their lives better.  Read more about microfinance and the position of privilege American women and how they can help women in developing world in the article by Ashley Dickens in Christianity Today

Mango Fund launches its new website

Today we are pleased to announce the official launch of the new Mango Fund website. In addition to the new layout and more information on Mango Fund's operations in East Africa, we would like to introduce a few new features: 

  • “Investors and Donors” - Potential investors and donors will be able to get in touch with Mango Fund officials and receive more information on how to engage in supporting SMEs in East Africa. 
  • Apply for Investment” - This feature is dedicated to our potential clients. Here you can get more information on our investment criteria and download the Loan Information Form which introduces yourself and your business to our analyst team.