The Situation
A team of mid-career professionals thought it viable to establish an Insurance brokerage business in Uganda to be able to utilise rich networks that they had built over the years. With inadequate information about the business coupled with financial constraints, they approached BLEGSCOPE to undertake a comprehensive feasibility study to ascertain the viability of the business and if positive proceed to develop and investment proposal that would be shared with the prospective investors.
BLEGSCOPE Intervention
BLEGSCOPE started off with a comprehensive market research and moved to complete the feasibility study. The industry‟s regulatory structure was also review and all requires were shared with the project promoters. With positive results on the viability of the business, BLEGSCOPE proceeded develop an investment proposal to justify the business to potential investors.
The Impact
The project promoters were able to use the feasibility study report to further enhance their appreciation of the insurance industry and the relationship between the different industry players. Following the submission of the investment proposal, they were able to convince different investors who subscribed to the idea. The idea has since transformed to reality after the promoters submitted their application for a license. Their request is still under review.
