Seth & Cushman Market Traders Ltd., CEO - Sylvester Kamuli shared his humble beginnings, challenges, and how CapitalSavvy helps his business to bridge the gap with bank requirements. All to provide his coffee exporting business, meet their desired trading volume, and access facilities.

Monetix Exclusive Interview with Seth & Cushman Market Trading Ltd., CEO - Sylvester Kamuli

Straight from the University, Sylvester and his sister engaged in planting Arabica Coffee at Mount Elgon. They started the company in 2013.  Interacted with other aggregated farmers and created a good working relationship and a binding working structure. This harmonious workforce gave opportunities to the youth and women in the community.

Seth & Cushman Market Traders Ltd. used to go to companies involved with the farmers on the ground. They coordinate and tell them they have farmers who can also supply the coffee. They prepare the coffee to their required standard and deliver it on time.

Sylvester shared how delicate they choose the coffee beans and the procedure they do to achieve high-quality coffee.

"The farmer goes to the garden, picks the red cherry of this coffee, and brings it to us. We do the hand picking of the underripe, the overripe coffee, and the green cherries. We eliminate them or we separate them from the extreme red cherry. For the red cherry, we will put it in water and float it over. After floating, it will see that the insect-bitten coffee, which is the defect, will be also eliminated from the fresh red cherries. The fresh red cherries pulp fermented overnight,  to remove the mucilage, wash the coffee, and dry them on certain ranks. " - Sylvester Kamuli

This whole process minimizes the defects by about 96%, by fast hand sorting of the bad coffee, and floating the coffee to remove the insect-bitten cherries that will probably give a different aroma.

The demand for orders increased during the time when the company was facing some financial challenges. They have decided to work with Gumutindo Coffee Cooperative Enterprise and Kyagalanyi Coffee Ltd to resolve it. They started in this way to support these companies and give them commissions in return. Then, they branched out with little cash flow and solid experience over time. They did that for about six years.

Seth & Cushman Market Traders Ltd. has started to grow and build a bigger network. They started bank financing to access facilities. However, the bank requires a 3% processing fee to proceed. There and then CapitalSavvy enters and bridges the financial gaps.

"For example. I want to do logistics to shipping with MSC to maybe, Russia or Italy and I have taken out five containers and maybe I need $6000 or $7,000 per container and I don't have enough liquidity on me or working capital. CapitalSavvy has really been there. They worked with me and supported my business in a certain type of model and their charges are also extremely fair to me" - Sylvester Kamuli

Now, the company is working with three gentlemen as permanent and six temporary staff. The women's sector in the community includes five permanent and ten temporary staff.

Sylvester gave reasons why he sees his company continue doing business with CapitalSavvy for the next 10 years and more.

"No. 1, There are no finances that are enough. No. 2, CapitalSavvy has created a homely and comfortable environment in my kind of business. – At the end of the day, when CapitalSavvy gives me time to clear my dues, I'm very happy about that, and next time I have the confidence to go back because of the way I was treated earlier. So with the years to come, I'm very ready to work with CapitalSavvy" – Sylvester Kamuli.

Subscribe for more inspiring success stories of our African Traders. CapitalSavvy (Ugandan Investment Firm) and Monetix's (Swiss FinTech Company) partnership have a mission.  This is not only to support the local traders financially but also to provide the business advisory and technology for the holistic growth of their business. Join the community, be an investor, create more jobs and inspire the world.  

MONETIX
© Copyright 2022. All Right Reserved By Monetix