Business Pineapple farm
Loan request 1 000 000 UGX (€230)
Loan Term 2 years
Age 38
Family Fiancée and two children
Funded 0%

Business

Ibrahim rents around 78 acres of land in the area of Kikyusa. Most of the land is used for pineapple farming, but he also grows some banana. Depending on the season, Ibrahim employs around 10-15 workers.

Uganda is said to have some of the best pineapples in the world. However, most pineapples are sold fresh at the market. During the harvesting season, the market overflows with fruit resulting in price drops and low profits. Little of the pineapple crops are exported and processed products such as juices are often imported from Kenya. Ibrahim sees the large potential that the pineapple industry in Uganda has and his plan is to expand into processing different products. This will both increase his profit margin significantly and also smooth sales over the year. If Ibrahim can realize his plans of buying land and building a factory, there would be several permanent employment opportunities which is highly needed in the area.

Loan purpose

Ibrahim’s long term goal of opening up a factory requires a large amount of capital and a larger production base. Ibrahim is therefore continuously expanding his farm and is preparing to start cultivating some new land. For that reason, he needs to hire more people to help him remove weed. He needs a loan to be able to do so since the wages have to be paid before the income from the larger production can be realized.

Loan history with CML

YearLoan sizeLoan termRepayment history
 2013 700 000 UGX 6 months Fully repaid
2015 500 000 UGX 8 months Fully repaid

 

 

 

Be a lender without borders

Uganda is a country full of potential ready to be unleashed. Take the opportunity to do socially beneficial investments with a competitive interest rate.