The South Africa-based Business Partners Limited (BPL), a renowned Small and Medium- Enterprises (SMEs) financiers has launched in Uganda in a drive to expand its investment model across the continent.
BPI Uganda has set up in the capital Kampala, from which it will be on the lookout for SMEs needing funding. The financiers will provide customized financial solutions, mentorship, and sectoral knowledge among other added-value services to formal SMEs across the country.
BPI is currently present in two East African countries; Kenya where it launched in 2007 and Rwanda where it launched in 2012. With BPI Uganda, the financier is well on its way to increasing its presence across East Africa.
Mark Paper, the Chief Operating Officer at BPI said, “Previously, we have always set up and managed investment funds with an investment life limited to 10 years. This new investment vehicle, however, doesn’t have a limited life and has been established as a permanent company with the purpose of offering risk capital and technical assistant for the targeted countries in East Africa.”
According to Paper, BPI’s run in both Kenya and Rwanda has made the financier feel the need to establish a permanent company with unlimited investment life in the region. Thus, going forward the financiers seeks to establish BPI Kenya and BPI Rwanda as permanent companies. BPI Uganda is the financier’s first choice for setting up permanent expansion across the region and Africa at large.
Paper added, “The country has experienced an upsurge in middle class and the level at which new business enterprises are being opened and established is increasing. Entrepreneurship is thriving in Uganda and currently contributes approximately 90% to the country’s GDP.
We also recognized Uganda as a growth center for Africa due to the country’s growing economy over the past five year period, and the fact that the East African region continues to prosper, with a forecasted GDP growth of 5.5% expected in 2016.”
The financier through BPI Uganda will give entrepreneurs and SMEs funding, post-investment technical support, mentorship. Thereby build the spirit of entrepreneurship, support wealth creation, broaden the government’s tax bases and help in the creation of jobs in Uganda.
BPI Uganda is part of the larger establishment; Business Partners International East Africa (BPI EA) company established to support SMEs in the region with financing to the tune of $50,000 to $1 million.