Best Projects 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Project’ category. All the entries consist of innovative projects run by existing enterprises in the form of businesses, NGOs or informal programs. If you want to know the 10 finalists in this category click HERE
Bank At Hause - Factor Xchange
Explain your project in details:
In Uganda, the importance of good packaging for farm produce is often underestimated and relegated to functional purpose of transport. About 30% of the value in Uganda’s agricultural supply chain between farmers and consumers is lost to rot, insects, birds and other pests. (Estimates range from 20-40%.) Many attempts have been made to reduce these post-harvest losses, but almost all have failed because they aim directly at changing the behavior of small farmers, who are well known for their conservatism and their resistance to changes pressed on them by organizations that are not directly involved in the supply chain. Examples include market information systems, sponsored cooperatives, new seeds and pesticides programs. Bank At Hause – Factor Xchange takes a novel approach to solve this problem. By selectively financing wholesalers to purchase farm produce, BAH-FX pulls agricultural produce that is packed in insect and rot-resistant 3-ply bags through the supply chain, ensuring superior financial returns to farmers, small traders, and to the wholesalers themselves.
Impact of your enterprise on sustainable development
Awards achieved include; 2016 Finalist in Banking the Entrepreneur Campaign in Silicon Valley, United States.(https://www.facebook.com/swarmvisioncommunity/photos/a.285971001609421.1073741828.285969221609599/474425402763979/?type=3) 2017 Finalist in Data Science Africa at Nelson Mandela Institute of Science and Technology. Arusha,Tanzania 2017 World Bank Group Youth Summit committee recognition for Young Technology and Innovation Leader. 2018 Finalist in Uganda Development Bank iGrowth Awards in partnership with Joadah Consult, Resilient Africa Network and Makerere University.(https://www.youtube.com/watch?v=sY2HXTykXPI) 2018 Nominated Best Procurement/ Supply chain solution in Benzinga Global Fintech Awards in Manhattan- New York, United States (https://benzingafintechawards.com/vote-2018/at-hause/). For more information from Google search here (https://www.google.com/search?ei=LzP0Wv6zCYPMgAa-to-ICg&q=bank+at+hause+factor+xchange&oq=bank+at+hause+factor+xchange&gs_l=psy-ab.3...3217.9355.0.10244.28.18.0.0.0.0.834.834.6-1.1.0....0...1c.1.64.psy-ab..27.1.834...0i22i10i30k1.0.bxARt-mKuqo)
Sustainability and future plans
Stakeholders include; Uganda Development Bank ResilientAfrica Network Makerere Innovation and Incubation Center College of Computing and Information Sciences Target Market include; Direct customers are millions of small farmers who are widely dispersed, and a few wholesalers, … especially exporters – who are geographically concentrated, stable businesses, known to BAH-FX investors and banks, and well connected to their customers. Indirect customers are the small traders who distribute 3-ply bags to the farmers and find ready buyers with the BAH-FX-financed wholesalers. More indirect customers are retailers and consumers especially the burgeoning middle class. COST OF PROCESSING A 3PLY BAG It costs $1.5 (5400/-) to manufacture a 3ply bag of 100kg and each bag is sold at $2.5 (9000/-) to producers / farmers to package their crop produce so as to store it for longer periods. To process, A 3ply bag of 1 kg costs $0.015 ( 54/- UGX ) A 3ply bag of 10 kg costs $0.15 (540/- UGX) A 3ply bag of 20kg costs $0.3 (1080/- UGX) A 3py bag of 50kg costs $1.2 (2700/- UGX) A 3ply bag of 100kg costs $2.5 (5400/- UGX) PROFITS REALISED PER EACH GRAMAGE OF 3PLY BAG 1kg 3ply bag sells to producers at 90shs and BAH-FX profits 36shs 10kg 3ply bag sells 900shs and BAH-FX profits 360shs 20kg 3ply bag sells 1800shs and BAH-FX profits 720shs 50kg 3ply bag sells 4500shs and BAH-FX profits 800shs 100kg 3ply bag sells 9000shs and BAH-FX profits 3600shs. Monthly platform Subscription rates (UGX) per user; Farmers pay 1,000 /= Traders pay 4,000 /= Wholesalers pay 10,000 /= Retailers pay 3,000 /= Consumers pay 1000/= per transaction
Your profile as an entrepreneur
ASHIRAF NSIBAMBI KYABAINZE is a 29 year old born in 1989. He is a Royal Prince grand son to the late His Royal Highness Prince Badru Kakungulu of Africa's celebrated Buganda Kingdom in Uganda. Ashiraf is a Bocconi University Certified Entrepreneur and Silicon Valley Swarm Vision profiled innovator of Global Fortune 1000 companies. Ashiraf was honoured as a Young Technology and Innovation Leader by the World Bank Group's Youth Summit committee for his ideas and achievements in areas of Science, Technology, Engineering, Arts, Design and Youth entreprenuership(S.T.E.A.D.Y).