The East Africa Trade and Investment Hub, an organisation that seeks to promote development in the region, is revving up its efforts to support Uganda’s agriculture sector. The Hub, as it is popularly known, plans to boost the country’s lucrative food crop industry by way of angel investors.
Earlier this week, the Hub’s investment team joined early-stage investors for a BiD Network-organized investment trip to Uganda. BiD Network is one of the world’s largest and most active early-stage impact investing networks.
BiD Network hosts a week-long trip to Uganda twice every year for potential investors to visit pre-identified early-stage businesses. The trip also allows investors to meet the entrepreneurs and local investors and stakeholders behind the businesses. Investors also get to witness firsthand the impact that their investment could make.
Uganda’s main commercial crops include coffee, tobacco, cotton, tea and sugar. The country is famous for its banana production since the crop is used as a staple food. Uganda also has a vibrant livestock industry though it is dominated by smallholder farmers. The country’s bee-keeping industry, however, is seemingly under-served, though it has the potential to generate a substantial amount of revenue.
The East Africa Trade and Investment Hub is funded by the United States Agency for International Development (USAID). The organisation seeks to boost trade and investment within East Africa by deepening regional integration, increasing the competitiveness of select regional agricultural value chains and promoting two-way trade with the United States under the African Growth and Opportunity Act (AGOA).
The Hub’s operations are focused on Burundi, Kenya, Rwanda, Tanzania, Uganda, Ethiopia, Madagascar, and Mauritius.
Since its inception, the Hub has facilitated $249 million in supported exports through AGOA while developing more than1,700 export buyer-seller linkages within the region. The Hub’s efforts have seen 1,310 firms receive capacity building assistance.
The organisation has also helped create 38,183 full and part-time jobs while facilitating $56 million worth of new private sector investments.