| NEWS REPORT / FASTCOMPANY |
Ugandan Farmers Get An Acumen Infusion
The Gulu Agricultural Development Company (GADC) will receive $2.2 million from Acumen Fund and Root Capital, to improve the company's organic cotton output to help civil war refugees in the region to maintain small farmers livelihoods, says an article in Fastcompany.
GADC was proposed by the Government of Uganda as a solution to the shambles that the people were living in for the past 25 years due to armed conflict and civil strife. The people wanted to return to their farms and a cash crop like cotton seemed ideal as a subsistence and livelihood crop. South African entrepreneur Bruce Robertson was asked to take over a cotton gin in order to kick start a cotton-producing ecosystem.
According to Fastcompany, Gulu District has an estimated 61 per cent of the people living in poverty, almost twice the national poverty level of 31 per cent.
Biju Mohandas, Acumen Fund's East Africa Manager aims at providing the people with a means of livelihood and go beyond just helping them to sell cotton.
To read the full story: Acumen Fund Co-Invests $2.2 Million in Ugandan Cotton Ginnery
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