FRIENDS Consult Ltd (FCL) Boosting Agribusinesses with aBi Development’s BASP
What?
BASP might be a confusing term to you. Not to the several agribusiness companies benefiting from FCL’s technical assistance under a long-term framework contract with aBi Development Ltd. These companies know the BASP means Business Advisory Service Provision. More importantly, they know it works. They are benefitting in vital areas like:
- Orderly growth guided by strategic and business plans with clear execution schedules
- Improvements through guidance on product and process quality management
- Access to suitable financing, well negotiated and structured with financial institutions
- Guidance on greening their business operations
- Overall advice on sequencing growth and using the right financing types.
By this initiative, aBi aims to promote equitable wealth creation by unlocking financing that facilitates capital investment and enables trade.
As part of this effort, aBi signed a performance-based framework contract with FCL to work with partner agribusiness companies in strengthening their capacities, growing their businesses and accessing suitable financing for their growth.
The challenge being addressed
Agribusinesses play a crucial role in Uganda’s economy through value addition, export earning, employment and food security. They, however, face several challenges including:
- Limited access to suitable investment capital.
- High levels of informality, which stifles or seriously limits growth
- Inadequate strategic planning and execution of critical aspects to boost the businesses
- Need for better quality management in an increasingly competitive market.
FCL’s Role as a Business Advisory Service Provider (BASP)
FCL supports agribusinesses in strengthening their internal capacity and securing complementary finance and investment. The three key stages, which leave the companies on a self-propelling growth mode, are: 1) Needs Assessment 2) Business Development Services (BDS) 3) Financing Advisory services
Early impact indications
After barely six months, the agribusiness companies supported affirm that the scheme is very helpful, and that they are already experiencing insights and outcomes that are more satisfactory than where they were before.
By Joseph Sserunjogi
Senior Projects Officer, FCL