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.
Machines purchased
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