Financial Sector Deepening Uganda’s Deal Flow Facility Partners with Asoko Insight as its Online Platform Provider
Nairobi – Uganda’s leading financial inclusion think-and-do-tank, Financial Sector Deepening (FSD) Uganda and Asoko Insight, Africa’s go-to provider of business intelligence and digital engagement platforms, are pleased to announce a five-year partnership to facilitate deal flow in Uganda via the Deal Flow Facility (DFF).
Funded by the European Union in collaboration with the Capital Markets Authority and incubated at FSD Uganda, the DFF is a technical assistance and match-making initiative designed to address the persistent gap in accessing growth capital for Ugandan businesses.
By utilising digital technologies, the DFF creates a one-stop shop where businesses can access capacity-building support and capital, and investors can find a pipeline of investable opportunities.
FSD Uganda aims to support over 220 Ugandan businesses to become investment-ready and close at least 40 debt / equity deals in the next five years via the platform, stimulating private sector growth and enabling direct and indirect job creation.
Asoko Insight has been contracted to build the digital platform for DFF to support matchmaking between global investors and local businesses. Over the last two years, Asoko has created a vibrant opportunity marketplace on its Digital Engagement Platform, facilitating connections between African businesses and global and regional stakeholders offering financing and business support services.
FSD Uganda will tap the same proprietary technology to build an online ecosystem of investors, companies, and transaction advisors to enhance private capital inflows to Ugandan businesses, joining a range of global Development Finance Institutions, multilaterals, development banks and private investors that have partnered with Asoko in pioneering digital technologies to connect with Africa’s private sector.
“The DFF online platform is a key component of FSD Uganda’s mission to facilitate a conducive business environment for financial inclusion. By addressing structural barriers to private capital inflows and strengthening access to non-bank financing for Uganda’s private sector, the platform is expected to have a wide-ranging impact on the economy and support the nation’s strategic development plan,” Norah Koigi, Director of the Deal Flow Facility at FSD Uganda, said.
“Our experience of digitising deal-making is illustrative of the transformative potential of technology to enable business growth across Africa. We’re excited to bring our expertise in creating digital platforms to bear with FSD Uganda, whose work makes an unparalleled impact on financial inclusion as a route to economic development,” Rob Withagen, co-founder, and Chief Executive Officer of Asoko Insight, said of the partnership.
The DFF is sector agnostic and focuses on established companies with financing needs of $500K and above. Women and youth-led businesses that meet the criteria are especially encouraged to apply. Companies meeting the above criteria can express their interest here.
About Asoko Insight
Asoko Insight is Africa’s leading corporate data and engagement platform, providing global investors, multinationals, and development institutions the most effective route to discover, shortlist and engage their target universe of African companies.
About FSD Uganda
FSD Uganda is an independent, non-profit organisation that supports innovation, conducts research, and helps to promote and improve policy, laws and regulations that shape the financial sector towards a more inclusive financial sector with a focus on low-income individuals.
For more information, contact
Jennie Forcier Patterson
Content Director, Asoko Insight
Portfolio Relationship Manager DFF, FSD Uganda