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Nassar road startup secures over Sh1bn to expand

Morning Start Enterprise manufacturers stationery for Ugandan institutions at Nassar road in Kampala. (PHOTO BY NINSIIMA JULIAN)

KAMPALA- Morning Star Enterprise (U) Ltd, a Ugandan company that manufactures stationery products has secured USD300,000 (about Shs1.1 billion) in mezzanine debt from iungo capital.

According to information obtained by this website, the money will be used to purchase raw materials.

Morning Star Enterprise manufactures stationery products mainly for educational institutions in Uganda and government agencies.

Located along Nasser Road in Kampala,

The use of paper products still has a huge market in the country and this could be a good move by Morning Star Enterprise if well executed.

Iungo capital is an investment company that provides finance and support to East African SMEs.

The company works with local angel investors and it is also supported by organizations like The DOEN Foundation, Schooner Foundation, Argidius among others.

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