In December 2009, Derek Kwesiga won the EMRC-AfDB Project Incubator Award of US$15 000 at the Africa Finance and Investment Forum 2009 (AFIF) held in Amsterdam. We caught up with Derek to find out a bit more about his experience.
EMRC: Tell us a bit about the history of Derekorp-how and when did it begin and what was the vision?
Derek Kwesiga: Derekorp was founded in December, 2008. The vision was to create a world class food processing business specializing in fruit and vegetable products from produce grown in Uganda.
EMRC: What brought you to AFIF09?
DK: After doing some research on EMRC we realized that the AFIF was a very beneficial forum for us to meet with important people in all aspects of our business sector.
EMRC:What did you hope to receive from this forum?
DK: We received exactly what we hoped for and more. We had an opportunity to present our business to hall full of delegates (including ministers, heads of banks, investors, consultants etc.), which in turn made the one on one discussions incredibly productive.
EMRC: What inspired you to enter the African Development Bank sponsored Project Incubator Award?
DK: I entered the EMRC-African Development Bank Incubator Award in the hopes of describing my business to the whole forum at once. After that there was an outside hope (however small) of winning the award.
EMRC: How did you feel when you won the African Developmet Bank sponsored prize?
DK: After the initial shock, I was elated. It also gave me a sense of validation; I was reinforced in my belief that my vision and goals (as ambitious as they are) can be achieved with effort and dedication.
EMRC: How did this victory help you as an organisation? How was the prize invested or how is it going to be?
DK: This victory gives my company credibility to those who don’t know us yet. It’s an achievement that shows our commitment to the community, not to mention the obvious financial benefits. We plan to utilise this prize in two key areas: to help in expediting our goals to start packaging by the end of the year (buying the packaging materials etc.), and also to facilitate training sessions/tutorials on the benefits of cooperatives and other such models that would give local farmers more leverage in the marketplace.
EMRC: What other developments have taken place in your business since winning the EMRC - AfDB Project Incubator Award?
DK: The largest development is that we are gearing up to start an aseptic packaging line for our fruit juice. This will enable us to export a top quality product, opening new markets and giving us more opportunity for substantial growth.
EMRC: Who should attend EMRC Agribusiness forums?
DK: This answer is simple: Absolutely ANYONE who has ANYTHING to do with agribusiness should attend. There is such a wealth of knowledge and such a diverse audience that everyone can benefit in some way.
EMRC: Why should people enter the EMRC - AfDB Project Incubator Award?
DK: It gives you a chance to present your business, ideas, and goals to an eclectic audience of leaders of industry. It’s a once in a lifetime chance for a small business to get their name and vision publicized.
EMRC: What is the key to creating a sustainable business project in your community in Africa?
DK: You need dedication and perseverance. Starting a business project anywhere is very difficult, especially Africa. If you believe in your vision totally and are willing to do whatever it takes to see it through, it can be done. This plus a sound business idea adds up to a potentially successful endeavour.