BiD Network expands operations to Rwanda and participates in USAID Nguriza Nshore Program

BiD Network expands operations to Rwanda and participates in USAID Nguriza Nshore Program

‘Lend, so that I can Invest’ is the translation of ‘Nguriza Nshore’ in Kinyarwanda. In this five-year project of USAID, Rwandan businesses will be supported in their growth, with the goal to create long term off-farm jobs in the country. In a consortium with DAI and ANDE, BiD Network is contracted as the key investment partner for the project. Rwanda’s economy has developed rapidly in the recent years, but, this did not reflect in a widespread job creation and many Rwandans still work in agricultural businesses. As in many East African countries, business owners in Rwanda find it hard to attract investment. According to DAI, the project lead: ‘this lack of access to finance -especially for women and young entrepreneurs—has constrained the ability of small businesses to expand, provide new and better products and services, and employ more people, especially in rural areas.’ Rwanda Nguriza Nshore will improve this by: ‘working on the enabling environment to effectively support small and medium enterprises, both in terms of financial regulatory and business promotion policies. In all, the consortium aims to bring $15 million in debt financing and $30 million in investment to small and medium-sized non-farm agribusinesses while creating more than 30,000 jobs for rural Rwandans.’ Investment Advisory Services Being the independent investment advisory firm for East African entrepreneurs, it is BiD Network’s goal to provide the best suitable financial solution for the Rwandan SMEs. This is done by selecting eligible companies and guiding them in structuring their investment, developing the right set of documents and training them on the implications of having an investor on board. In the last 12...
Investment allows leading Diagnostics company to grow

Investment allows leading Diagnostics company to grow

Ronald Wantanda, founder and director of Human Diagnostics Ltd, one of Ugandans leading Medical Diagnostics companies, started his company from a vision: to build a legacy. A legacy where all people in Uganda get access to basic medical equipment. Something that seemed like a dream for people in underserved communities in Uganda. But, Ronald started to revolutionize the medical diagnostics sector in Uganda by making basic medical diagnostics supplies available to the upcountry regions of Uganda. As a medical diagnostics company, Human Diagnostics deals in the supply of medical laboratory diagnostic equipment, vital for the detection of critical illnesses. They supply to major healthcare facilities, institutions, hospitals and clinics across the country. The company has been steadily growing over the years and searched an investment to facilitate the importation of additional equipment and meet their working capital needs. Therefore, they needed an investment from investors that understood the business and saw the potential of their plan. An injection of money they would not be able to obtain from the normal banking system. At the end of 2017, Ronald closed an investment with two investment funds that agreed to co-invest in the company. The two investment funds know the sector since they are medically oriented, enabling Human Diagnostics to promptly avail the required medical supplies to numerous health facilities all around the...
BiD Network and PUM intensify collaboration

BiD Network and PUM intensify collaboration

Accelerating access to finance and growth for SMEs in emerging markets is the essence of the partnership between PUM Netherlands senior experts and BiD Network. Working together successfully for over two years in Uganda, nine SMEs have been able to attract investment. This month, both parties agreed to intensify their collaboration by expanding to Rwanda and Kenya. What is unique about the collaboration between PUM and BiD Network, is that it is now possible to offer entrepreneurs a total package . Of course, the entrepreneur is responsible for his or her own company, but essential knowledge and investments are often unattainable. This collaboration offers entrepreneurs the opportunity to take concrete steps and to contribute to the economic development in their country. Gert van Veldhuisen, CEO BiD Network: “BiD Network and PUM have many synergies and complement each other in the work they do for entrepreneurs in Africa. Where PUM strengthens the companies by providing business support, BiD Network facilitates the best-suited investment to these entrepreneurs as their independent investment advisor. By strengthening companies in their growth, they create more jobs and form the basis of positive change in a country. This collaboration enables us to build a stronger foundation for our entrepreneurs as they benefit from extra business support from PUM experts. Our large network of investors gets access to more high-quality deal flow which ensures them that besides their financial injection, the company is strengthened with knowledge from PUM experts, de-risking their investment and leaving the company with better growth perspective.” Pedro Eikelenboom, Business Development Manager PUM: “The mission of PUM is to strengthen entrepreneurs in emerging markets....
BiD private investors support another 4 businesses

BiD private investors support another 4 businesses

Hardly 3 months since the last investment trip, another 4 deals have been closed. Lydia (NLS), Florence (Yellow Star), Abu (Village Energy) and Dan (Jakana) together received $185,000 in loans to grow and mature their businesses.   Extreme drive and commitment capture the hearts of private investors When looking at the 4 entrepreneurs who received investment, they all have one thing in common : they are visionary entrepreneurs on a social mission. Each one of them started their company, first and foremost, to solve a pressing issue. Whereas Jakana and Yellow Star work hard to generate income for the rural population, Village Energy’s objective is to increase access to affordable lighting and NLS ensures that medical and hazardous waste gets disposed of sustainably. None of them took the easy route, trying to make a quick buck. Instead, driven by sincere passion, they focus on delivering a REAL solution, adapting and solidifying their business model as they move forward.   $185,000 in funding unlocks additional $305,000 in commercial and philanthropic funding Apart from their drive and perseverance, there is another striking commonality. Three out of these four entrepreneurs managed to unlock additional funding as a result of the funding that came in through BiD Network, either via a (matching) grant, or via commercial lending. Some of the sources of additional funding include the Netherlands Embassy, the Abi Trust, UKAID and USADF. At BiD Network, we hope that private investors have this catalytic effect, by providing credibility and confidence to early growth businesses. It is very rewarding to see that this works out in practice.   Blended finance offers solutions to...
Ugandan SMEs show their growth potential to international investors during the Impact Investment Trip

Ugandan SMEs show their growth potential to international investors during the Impact Investment Trip

From Monday 20th of March till Friday 24th of March, investors from the Netherlands, Kenya, the USA and Australia were in Uganda to visit a selected number of promising Ugandan entrepreneurs. The businesses that had been selected by BiD Network operate across sectors, Agriculture, Health, Fintech, Renewable Energy and Waste and have a few things in common: they have a proven business model, a competent management team and the potential to scale. Investing in Ugandan SMEs During the 5-day visit, the investors met and discussed with the entrepreneurial teams of the businesses of their choice. The program was designed to give the investors a full grasp of the Ugandan entrepreneurial eco-system. Besides visiting the selected businesses, the investors met with the Ugandan Investment Authority, were part of a networking event with banks, local investment funds and business angels and they met with seasoned entrepreneurs and investors.  All of this to show the international investors the potential of investing in Ugandan enterprises. As one of the entrepreneurs of the trip said: “The experience with BiD Network has been invaluable. I especially liked the business development workshops and sessions with the industry guru from the Netherlands. Investment will be a bonus”. Following this trip, investment deals are in the pipeline! Join our upcoming investment trip in September BiD Network is hosting the next Impact Investment Trip to Uganda in September of this year. Do you want to get a behind the scenes look at doing business in East Africa and explore investment opportunities first-hand? Join like-minded investors and business angels and explore Ugandan business opportunities in a fun and exciting way! Read more...
Celebrating a new investment deal! Safe disposal of hazardous medical waste in Uganda

Celebrating a new investment deal! Safe disposal of hazardous medical waste in Uganda

In Uganda, there is no special way to dispose hazardous medical waste. Health care facilities illegally dump their waste in swamps or bury their waste in on-site pits. These sites fill up quickly and the medical waste is causing health hazards; methane gasses in the sites have the risk to set fire and chemicals leak into the soil, contaminating ground water. In 2009, after having a blood sample taken in hospital, Lydia Naiga realized that the disposal techniques of hospitals and clinics in Uganda were not sustainable. That motivated her to start NLS Waste Services, a company that collects and disposes the hazardous medical waste from hospitals and health care clinics in Kampala. Lack of capacity Lydia and her team collect and dispose all the medical waste responsibly, safe and in an environmental friendly way. Her business grew rapidly over the years, gaining a 75% market share in Kampala, serving the big hospitals and health clinics. Unfortunately, the machinery of NLS lacks capacity, which forced Lydia to turn down new business opportunities. At the moment her two incinerators are used to their full capacity and each of them can handle 100 kilogram of waste per hour with 50 kilogram of ashes as a result. The new incinerator can process 350 kilogram of waste per hour, with only 20 kilogram of ash as a remainder. Thus, replacing one of her old incinerators will double her current capacity and at the same time reduce her waste. Informal investors allow for expansion Via BiD Network, four informal investors were introduced to Lydia. These investors saw the potential of her business.  After receiving valuable...