University of Chicago, Imuka Access, UIA, Set to Organize An Accounting and financial management systems program

The University of Chicago, Booth School of Business has partnered with Imuka Access in collaboration with UIA(Uganda Investment Authority), Ministry of Trade Industry and Cooperatives, EAVCA(East Africa Venture Capital Association) to organise a three-month program for high-growth businesses called Accounting and Financial Management Systems Program.

This program aims to support the future growth, development and access to finance opportunities of participating businesses by providing hands-on training on accounting and financial management best practises.

It has been established due to limited financing and investments in SMEs in the country, resulting from informal nature of many business operations, lack of knowledge of, and relevant documentation due to poor accounting and financial management practices amongst SMEs

These also explains the high business mortality rate in the country. The program will support upto 150 SMEs that have already created more than 10 full-time jobs as a way of helping these businesses become more attractive to financing and also to grow sustainably while creating more job opportunities.

The program will involve dedicated personalized training, coaching the implementation and adoption of accounting and financial management practises by a highly trained external professional financial expert/CFO over a period of 3 months.

Program participants will gain a deeper understanding of costing methodologies, financial record keeping best practises and budgeting and financial planning techniques among other valuable business skills.

At the end of the program, the participants will be able to submit application forms for financing with standard criteria that will be evaluated by potential capital providers and investors.

Applicants can visit http://app.imuka.co/ for more information.

PARTNERS

University of Chicago, Booth School of Business; The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the University of Chicago.

Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 9 Nobel laureates in the Economic Sciences, more than any other business school in the world.

The school has the third-largest endowment of any business school. Chicago Booth’s MBA program is ranked No. 1 in the U.S. by U.S. News & World Report and Forbes, and No. 1 globally by The Economist.

Imuka Access; A technology driven social enterprise that facilitates access to affordable financing and business development support to entrepreneurs in Uganda, East Africa and beyond.

Imuka Access targets early stage businesses that are already generating revenue with potential to grow and scale commercially with impact. It believes in the power of entrepreneurship as a driver of economic growth, employment and poverty reduction in developing economies.

Uganda Investment Authority (UIA); A Government of Uganda agency mandated with promoting investment opportunities in Uganda Ministry of Trade, Industry and Cooperatives (MTIC); A Government of Uganda Ministry tasked with a mission to develop and promote a competitive and export-driven private sector through the acceleration of industrial development.

EAVCA(East Africa Venture Capital Association) The East Africa Venture Capital Association (“EAVCA”) was founded in 2013 to represent the private equity industry in East Africa and provide a voice for industry players to raise awareness and engage on regional policy matters.

Today, EAVCA serves as the interlinking platform for public stakeholders, local businesses, and private investors, building on dialogue and industry insights to create a sustainable, informed eco-system that advances economic growth, social and environmental welfare and wealth creation in the region.