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Thanks for allowing me to comment, that's a sweet idea and I would like to network with you I am from Uganda


Joan commented on Obusuma

Thanks, I will join the meeting

Needs, aspirations, Motivation and challenges
The Foundation started in 1st Nov 2019, when over 20 Primary Individuals Resolved to established a legally binding Foundation in order to tap into the emerging market and business opportunities in Uganda and East African Region. With the help of Business Development Support providers, the steering Committee developed the Business Plan to ascertain the economic feasibility of producing, processing and marketing maize products by small farmers as a collective enterprise.
The Capital needed is to establish and meet the production costs for additional 9 acres under modern sustainable maize farming system by the 30 groups and 189 individual UGX 90 million. Assuming each member establishes One acre land. In addition, the Foundation will invest UGX 45 million in acquisition of Capital Assets in year two (2) for establishing the Farm Agro-Inputs Supply Shop, Maize Grading and Packaging Facility, purchase of mobile maize threshers, tarpaulins and quality control equipment.
The Foundation is projected to be profitable starting year two. The Foundation is expected to run a negative cash flow in the first year (UGX -22 million). By the second year the ending cash balance will be UGX 120 million and UGX 36 million in the year 3.
Financial analysis clearly shows that Maize Society is a profitable venture. However, the biggest obstacle remains access to finance to cover establishment and expansion costs. Linking farmers to affordable and favourable financing which allows for reasonable grace period (Maize takes 4 months for first harvest) is important. In addition, internal share capital mobilisation from members will be looked at as a viable option for capital accumulation. This call for efforts geared towards building capacity of the Girl Hope Revival Foundation and affiliated members to save with a purpose and target.