Having been set up with financing from the European Union (EU) through the International Fund
for Agricultural Development (IFAD) and National Social Security Fund Uganda (NSSF) and
managed by Pearl Capital Partners (PCP), the Yield Uganda Investment Fund has committed
Shs 1.3Bn to Chemiphar (U).
Chemiphar is an internationally accredited analytical laboratory located on the outskirts of Kampala, in Kansanga, whose core business is to provide testing and inspection services to SME businesses operating in food and beverages, agro-products, environment, pharmaceutical and cosmetics as well as agricultural seeds.
Chemiphar therefore essentially acts as an enabler to agri-businesses which are required to meet international standards for both export and local certification of their processed and value added products.
Annick Uytterhaegen, founder and CEO of Chemiphar (U) Ltd, with delight, said that; “At Chemiphar we are so happy and grateful that the Yield Fund and aBi have considered our request for support. Thanks to these grants and financing, we will be able to bring the company to another level and develop areas of the company that we wanted to improve since a long time but for which we were meeting financial constraints. Chemiphar has always committed resources and time to address areas of utmost importance, especially where Uganda or the region can have a competitive advantage. For more than 20 years now, Chemiphar, thanks to its international accreditations has helped industries to export their products to the world whether fish, honey,
vanilla, cocoa or any others…”
European Union Ambassador to Uganda, Attilio Pacifici expressed his delight with the new
“This investment by the Yield Uganda Investment Fund is a practical example of progressive partnerships between Europe and Africa reflecting the new Europe-Africa Alliance for Sustainable Investments and Jobs which aims to promote inclusive growth, job creation and sustainable development in Africa,” he said.
Richard Byarugaba, Managing Director NSSF said that “a total of Euros 3.3 million has been committed with Euros 1.7 million so far disbursed through the Yield Fund to entities that are focused on value addition within the Ugandan agricultural sector”.
He added that the investment in Chemiphar was timely because Chemiphar is the only international accredited laboratory in Uganda and as such plays a critical role in clearing agricultural products for exports
from Uganda, both to the region and beyond.
Dr. Edward Isingoma Matsiko, PCP Partner responsible for the investment transaction said: “As
a country, Uganda has had a number of challenges with exports including bans like the renowned
fish ban which, thanks to Chemiphar, was lifted in 2001.