Eight years after it was founded to save a sick child, Uganda Venture and its dedicated managing director, Fadi Al Qassar, are getting high-profile help in its efforts to finance Ugandan entrepreneurs.
Among its many valuable projects, Uganda Venture reduces poverty in rural Uganda by providing entrepreneurs with access to capital through micro-credit loans of between $300 and $750.
There is huge need, and the group is struggling to meet demand. It’s hoping that with the help of a local entrepreneur who is part of California-based tech giant Salesforce.com, that effort will receive a boost.
Salesforce is well known in the region after buying into several Atlantic Canadian companies, including New Brunswick’s Radian6, co-founded by Marcel LeBrun. It was sold to Salesforce for $326 million in 2011.
“Marcel LeBrun is now senior vice-president and general manager of Salesforce Radian6 and he is going to be mentoring me for six months,” said Al Qassar by phone as he strode the streets of Halifax, keen to catch up on local work after spending seven weeks in the village of Tabiro, the venture’s Ugandan base.
“We’ve been able to provide loans to 25 individuals since the micro-loan program launched in May 2013,” he said.
“People are expanding their businesses, paying us back and living sustainable lives, but many others would benefit from this kind of loan.”
Al Qassar said that, among other things, LeBrun will advise him on raising funds through crowdfunding, the collection of money from many backers that usually occurs through the Internet.
“It will be great to have the help of someone who has a lot of knowledge in the area of bringing a digital product to market.”
Born in Jordan, Al Qassar joined Uganda Venture as a student volunteer in 2006, when the connection between Halifax and Tabiro was forged through the work of Halifax physician Wally Schlech.
While working in Uganda, Schlech met Dorcas Nazziwa, a teen with a heart ailment. Schlech and his colleagues brought Dorcas to Halifax for treatment free of charge. Sadly, Dorcas did not survive, but her illness created a profound connection between the two communities that endures and strengthens.
Back then, Al Qassar had already completed a commerce degree with a major in marketing. He was working in advertising and offered to re-design Uganda Venture’s logo and help with the fledgling group’s marketing plan. Since then, Uganda Venture has been a central focus of his life, and he is often on the road.
The last few months have been exciting. In addition to linking up with LeBrun, Al Qassar has participated in the first cohort of the social entrepreneurship program at the Pond-Deshpande Centre at the University of New Brunswick. The six-month B4 Change accelerator program helps social entrepreneurs — those who found a business that meets a social, economic or environmental need and turns a profit.
“Often, accelerators are focused on technical organizations, but B4 Change had a good mix of social entrepreneurs,” Al Qassar said. “It brought in intelligent people who wanted to learn where we wanted to go and who wanted to help us bridge the gap.”
Additionally, the centre awarded Uganda Venture $15,000 toward its work providing micro-credit.
MBA students from Halifax’s Dalhousie University have also provided assistance. They gave accounting and financing training to the recipients and provided valuable evaluation of the group’s first year providing loans.
According to LeBrun, the Uganda Venture team is led by special people who have accomplished amazing things in Uganda and for the Canadians who have partnered with them.
But Al Qassar feels he’s the lucky one.
“For me, it feels awesome, satisfying and a privilege to be working with the people I’m working with and serving the people I’m serving.”