Wellgate’s funding of Timu bakeries in Uganda results in new expansion to new factory and depots and now employs 650 local individuals.
Wellgate’s financial support of Timu bakery in Uganda has been a remarkable success story, with far-reaching benefits for the local community. Thanks to Wellgate’s investment, Timu bakery has recently expanded significantly, resulting in the opening of six depots across Uganda and the employment of 650 individuals.
Commenting on this managing director of the Timu business Timothy Kabandaze stated, ‘’I would like to thank my partners Wellgate for their fantastic support and investment which has enabled me to grow the business so successfully’’
The success of Timu bakery can be attributed to the thoughtful and strategic approach taken by Wellgate in their investment. Rather than simply providing a one-time donation, Wellgate worked with Timu bakery to develop a sustainable business model that would enable the bakery to grow and thrive over time.
Another important aspect of Wellgate’s investment was their commitment to helping Timu bakery expand its operations. By providing funding for new depots and equipment, Wellgate enabled the bakery to reach new customers and increase its production capacity. This expansion has been critical to the bakery’s success, as it has enabled Timu to meet growing demand for its products and establish itself as a major player in the Ugandan baked goods market.
Perhaps most importantly, the success of Timu bakery has had a positive impact on the local community. By providing employment opportunities to 650 individuals, the bakery has helped to lift families out of poverty and create economic stability in the region. Additionally, the bakery has become a hub for community activity, hosting events and providing a gathering place for locals to come together.
Overall, Wellgate’s investment in Timu bakery has been a shining example of how strategic financial support can have far-reaching benefits for a community. By taking a thoughtful and sustainable approach to their investment, Wellgate has helped to create a successful business that has had a positive impact on the lives of hundreds of individuals in Uganda.