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With a working capital facility of EUR 120,000, Tulsa Investment limited will continue to solve up to 30% of Uganda’s printing and packaging problem – solving a major bottleneck holding back the country’s manufacturing sector.
Georgeous Kasangaki represents a new generation of highly successful women entrepreneurs that are determined to transform Africa. With her formative business years spent in commercial banking, Gorgeous experienced firsthand how Uganda’s manufacturing sector was struggling to become globally competitive. A key bottleneck – especially in the FMCG segment – concerns packaging, branding and printing. Without competitive domestic packaging materials, entrepreneurs need to resort to expensive importing of bulk materials, often from China – which means a drain on cash flow and FX reserves.
On the basis of savings and some initial seed capital, Tulsa started business in 2012 and has reached sales of over EUR 4.4 mln in barely 5 years operations. This is a stellar performance, and today the company has become a leading supplier of state-of-the-art packaging materials, as well as stationery and print services.
With assistance of FACTS financing, Tulsa will expand operations throughout Uganda, and start servicing clients farther away from Kampala, and in the surrounding countries of Kenya, Tanzania and Rwanda. This will ultimately make the business one of the major exporters of packaging and branding material to countries within the East African Community.