Entrepreneurs all over Uganda have been tipped on considering value chains of the companies they intend to write proposals to before approaching corporate companies for funding.
They were also advised to consider looking into the company’s calendar, that is, when they dispatch their budgets.
The event was held on November 20th in a private sector forum held at Sheraton Hotel Kampala where different corporate companies were invited to discuss why Corporate social investment matters.
Speaking at the event, Pamela Bayenda the Sustainability Development Manager Nile Breweries limited called upon individuals to always consider the company’s value chains and right timing when thinking to convince corporate companies for funding.
“When considering proposals, we normally look at those entrepreneurs with clear knowledge about what we do. In other words, good proposals should be in line with the company’s value chain, timing is critical, and those that clearly show impact to the company in the proposal. If you are looking for NBL Uganda to support your work- align it with our work, our value chain,” Bayenda revealed.
Bayenda also added that corporate companies have always been and are always willing to help entrepreneurs with clear motives and vision.
“It’s not that corporate companies are segregative, we tend to fund those individuals who are aware of what we do, present their proposals at the right time and above all, those who are organized and with clear motives and goals,“ Bayenda added.
Benjamin Rukwengye, CEO Boundless Minds said most entrepreneurs just hurry in to submit their proposals without minding about what the company stands for and not considering right timing.
”Not knowing the calendars of corporate companies is very problematic. Sometimes there is a problem even on our side. Don’t ask for funding for a January event in December,” said Rukwengye.
A company like NBL has over the years seen supporting different local societies such as investing in education where school fees is paid for children of farmers, donation of solar power ,investments in access to clean water and responsible drinking of beer, among others.
While administering her keynote speech, Josephine Kaleebi, the Social Development Practitioner cited out the difference between Corporate Social Investment from Corporate Social Responsibility indicating that the two have a relative difference.
“Corporate Social Investment is relatively newer than the Corporate Social Responsibility which we know. The investment is not only a charitable donation, but it’s about putting money for social needs while getting a financial return,” said Kaleebi.
While giving an insight on social impact investment landscape in Uganda, she revealed that investors are looking for potential and organized individuals or organizations that are already doing good.
“Investors (funders) are also looking out for organizations that are doing good .Corporate Social Investment is a fertile investment opportunities that all individuals should tap in.”
The Private Sector Forum was Organized by Konrad-Adenauer-Stiftung (KAS Uganda & S.Sudan) in partnership with African Centre for Trade and Development (ACTADE) with the aim to promote Sustainable Economic Policies and Practices under the theme: ‘Why Corporate Social Investment Matters’.