Prolific Partnership with AIMS to Empower Agribusinesses
Who is Prolific?
Prolific is an accounting firm in Kenya that focuses on SMEs; providing accounting, taxation and training services to SMEs. Under their flagship subsidiary FarmBooks, Prolific provide the same service to agribusinesses. As providers of accounting services, we assist the agribusinesses to set up accounting/financial systems. This is through a tripartite agreement between us, the SME (agribusinesses) and the AIMS program. Once in the program, the SME has access to the other services (as their need may be), market information and also to capacity building initiatives under the program.
What is AIMS?
Agribusiness Investment for Market Stimulation (AIMS) is a five-year initiative of Global Communities to bolster trade in key agricultural sectors, grains, pulses, dairy, and horticulture in Kenya, Tanzania and Malawi by increasing access to financing and markets for small and medium-sized agribusinesses. AIMS is funded by the U.S. Department of Agriculture (USDA).
Small and medium-sized agribusinesses (A-SMEs) are a potential driver of inclusive agriculture-led economic growth, but they face constraints – including inadequate financing, lack of market information, lack of market orientation, limited market linkages and limited connections to quality service providers that can help them achieve sustainable and inclusive business growth.
In partnership with the Eastern Africa Grain Council and business advisory service providers, AIMS builds the capacity of these A-SMEs and improves access to both domestic and regional markets through enhanced buyer-seller linkages and better market information. It also builds the capacity of banks in the region to lend to small and medium-sized agribusinesses to develop improved products and establish appropriate risk mitigation techniques under the loan guarantee facility.
Enhancing Market Access for Agribusiness SMEs
Applying a market systems approach, AIMS works to increase market linkages by facilitating business relationships between buyers and sellers through a Business to Business (B2B) model. Business linkage forums bring buyers and sellers together to create indicative agreements that can be used as the basis for formal purchasing contracts. Wherever possible, these forums are conducted in partnership with apex organizations including business advisory service providers, financial institutions, market information services providers, county governments, and value-chain specific service providers. Creating linkages between A-SMEs and these apex organizations helps build trust and helps parties better understand the value added by the other, which can lead to a further deepening of relationships that can lead to further efficiencies and increased trade.
This is a guest post by Farm Books EA. Here is a great article on why Bookkeeping is Important in Agribusiness.
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