UGANDA – Chemiphar (U) Ltd, an internationally accredited analytical laboratory in Uganda, has received a total of US$1 million (UGX3.750 billion) funding aimed at boosting agriculture exports in the country.
The funding was facilitated by the European Union (EU) through financing from the International Fund for Agricultural Development (IFAD) and National Social Security Fund Uganda (NSSF) and managed by Pearl Capital Partners (PCP).
According to an EABW report, Yield Uganda Investment Fund has committed to provide US$350000 (Shs1.3 billion) while the remaining US$650000 (Shs2.45 billion) will be provided by the Agricultural Business Initiative’s (aBi), inform of a grant.
Chemiphar core business is to provide testing and inspection services to SME businesses operating in food and beverages, agro-products, agricultural seeds as well as environment, pharmaceutical and cosmetics sectors.
Chemiphar acts as an enabler to agri-businesses which are required to meet international standards for both export and local certification of their processed and value added products.
The investment is aimed at supporting growth in the company in order to meet the growing local demand of quality and efficient laboratory testing services as well as to fully meet specific requirements of local and foreign markets.
As part of the Yield Fund package, Chemiphar will also benefit from a matching grant from the Fund’s Business Development Support (BDS) facility managed by IFAD.
Annick Uytterhaegen, founder and CEO of Chemiphar (U) Ltd, with delight, said that the funding will enable the company expand its operations and improve its efficiency.
“Chemiphar has always committed resources and time to address areas of utmost importance, especially where Uganda or the region can have a competitive advantage.
“For more than 20 years now, Chemiphar, thanks to its international accreditations has helped industries to export their products to the world whether fish, honey, vanilla, cocoa or any others.
“It is great to know that our efforts have been recognized and that we will receive support to be able to better perform our work, to create awareness about the importance of quality standards in the country and to continue focusing on our mission,” he added.
European Union Ambassador to Uganda Attilio Pacifici said that the investments further strengthens the new Europe-Africa Alliance for Sustainable Investments which aims to promote inclusive growth and sustainable development in Africa.
“IFAD is delighted to have Chemiphar (U) Ltd join the Yield Uganda Investment Fund portfolio.
“Through this partnership, Chemiphar will play an important role in supporting Uganda’s Agriculture SMEs, by providing modern testing facilities, helping them unlock important markets for the producers and smallholder farmers.
“We are looking forward to a successful partnership,”said Lakshmi Moola, the IFAD Country Programme Manager for Uganda.”
According to Richard Byarugaba Managing Director NSSF, a total of Euros 3.3 million dollars has been committed with Euros 1.7 million so far disbursed through the Yield Fund to entities that are focused on value addition within the Ugandan agricultural sector.