[Uganda] Insurtech startup Turaco and Airtel Money launch low-cost hospital cash insurance product
Turaco, the Kenyan insurtech startup has partnered with Airtel Mobile and Prudential Assurance to launch a low-cost hospital cash insurance product with Funeral Benefit.
Credable raised $2.5 Million to expand digital banking platform for customers in Uganda and Kenya
$2.5 Million fund will help the company expand its services, which include a number of banking products for customers in Uganda, Kenya and Credable’s home country of Tanzania.
Yabx Technologies expands into Nigeria
Yabx Technologies is a financial technology company which through its partnerships with banks and telecom operators, underwrites and services target segments available over customer networks.
Education Cannot Wait renews multi-year resilience programme in Uganda with $25 million funding
The extended three-year programme will be delivered by Save the Children and UNHCR, in partnership with the Government of Uganda, and will support the inclusion in the national education system of more than 122,000 refugees.
Uganda signe avec l’Algérie, un mémorandum d’accord pour collaborer dans le secteur pétrogazier
Le protocole d’accord vise à évaluer conjointement les opportunités de coopération sur l’ensemble de la chaîne de valeur du pétrole et du gaz.
[ChatGPT Biography] Ashish Thakkar, Founder Mara Group
Artificial Intelligence is taking the world by storm. As an experiment, Africa Business Communities is publishing a series of 100 biographies of the most successful entrepreneurs in Africa. We only ask the questions and let ChatGPT write.
[East Africa Business Week] Bob Koigi: What the entry of Somalia to the EAC means for region
This week, The East African Community (EAC) officially launched the verification mission to assess the Federal Republic of Somalia’s readiness to join the Community.
[East Africa Business Week] Bob Koigi: Region warms up to the hospitality industry’s expansion binge
Global respected hotel brands are expanding their footprint and have identified Africa as a key investment destination with the East African region catching their attention for its MICE, business and leisure growth potential.
[East Africa Business Week] Bob Koigi: Deepening diaspora remittances, driving regional investment
In a first of its kind move, The East African Community (EAC) has announced setting up a Diaspora desk that will focus on facilitating East Africans living in the diaspora to invest and trade in the region.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses
Small and medium-sized enterprises (SMEs) account for an estimated 90% of all businesses in Africa and women own about a third of all registered African SMEs.
[East Africa Business Week] Bob Koigi: Banking on innovations, partnerships to grow financial services sector
These developments have led to improved services and a robust sector that is shaping the region’s financial services industry dynamics.
[East Africa Business Week] Bob Koigi: Region’s startups are on an expansion binge
East African startups have been on an expansion drive, raising funding as they seek to tap into emerging opportunities in the region and across Africa while growing their portfolio.
[East Africa Business Week] Bob Koigi: Boosting diaspora remittances through regional collaboration
As the region bets on diaspora remittances to boost respective countries’ national purses and drive economic growth across East Africa, member states are looking at cementing regional partnerships.
[East Africa Business Week] Bob Koigi: Actualizing the Common Market Protocol
The Summit discussed a raft of issues touching on the region from infrastructure development, energy transition, removing all restrictions on air transport services and strengthening the community.
[East Africa Business Week] Bob Koigi: Region bets on bioeconomy to bolster growth
Among the key interventions proposed in the strategy is the creation of new forms of sustainable bioenergy, and the conversion of waste materials to useful products.
[East Africa Business Week] Bob Koigi: South Sudan remains a strategic player in the region’s petroleum industry
Owing to its strategic position at the heart of a wider Nile Basin-East Africa hydrocarbons-rich area, South Sudan is emerging as the hub for petroleum industry services and exploration in the region.
[East Africa Business Week] Bob Koigi: West meets East
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
[East Africa Business Week] Bob Koigi: DR Congo’s factor in the integration agenda
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses to deepen integration
East African member states, private sector players and development partners have stepped up their investment in women-led businesses and SMEs in a move likely to impact cross-border trade and boost integration in the region.
[East Africa Business Week] Bob Koigi: Financial institutions bank on tech to bolster offerings
East Africa financial institutions are betting on tech to boost their offerings, grow their customers’ portfolio and stay afloat in a competitive market.
[East Africa Business Week] Bob Koigi: What EU’s lifting of financial sanctions on Burundi means for EAC
The EU made the decision in the wake of deteriorating political situation occasioned by a disputed presidential election in 2015.
[East Africa Business Week] Bob Koigi: Heightened oil and gas activities inspire more investments
As the East African nations continue to make oil and gas discoveries, investors and multinationals are pitching tent in the region on an exploration binge with governments betting on the newfound resources to grow national and regional economies.
[East Africa Business Week] Bob Koigi: Sub marine cable investment connects region to the world
An increase in submarine cable activities and fiber connectivity is attracting more investments in East Africa while opening up the region to the world.
[East Africa Business Week] Bob Koigi: What 2022 portends for East Africa
As the East African Community, EAC, member states eye innovative ways of deepening integration and trading more with each other, the bloc and individual countries are putting in place mechanisms, policies and legislation that seek to address longstanding hiccups that have put the brakes on seamless regional trade.
[East Africa Business Week] Bob Koigi: East Africa positions itself as investment destination of choice
The East African community continues to live up to its billing as a prime investment destination for investors.
[Interview] Victoria Nannozi, CEO, The Association of Real Estate Agents, Uganda
The Association of Real Estate Agents, AREA-Uganda, is an umbrella institution of real estate agency/brokerage companies, consultancy real estate firms, and real estate agency /brokerage professionals in Uganda that have key interests in real estate agency/brokerage.
[Vacancies] Africa Business Communities wants to work with freelance Business and Tech Journalists, Bloggers
Africa Business Communities is looking for Freelance Business and Tech Journalists, Bloggers in Nigeria | South Africa | Ethiopia | Uganda | Ghana
[Startup Interview] Ancel Bwire, CEO, Ancywax, Uganda
Ancywax is a research, media and marketing startup domiciled in Uganda’s capital Kampala that has since 2014 been offering clients a cocktail of services from idea to implementation through a model dubbed Concept Development.
[Column] Maria Auma: Let's really talk AfCFTA
When I envision AfCFTA, I see a continent where the cost of trade is cut by nearly 80 per cent. Having been in the importation business for over three years I will say that the one thing that eats up our profits the most was the importation taxes and duties.
[Column] Phyllis Wakiaga: How the EAC bloc can leverage its market
This year, reports and news articles have been awash with stories of a dysfunctional EAC bloc stagnated and in near-crumbling state.
The Ugandan Competition Enforcement - a comparison with South Africa
Ugandan businesses are becoming increasingly mindful of competition requirements and domestic antitrust laws when engaging in commercial transactions in other African jurisdictions.
[Interview] Joe Gakuo, CEO, Oleum Holdings, Kenya
Mr. Joe Watson Gakuo is the Chief Executive Officer of Oleum Holdings Limited, and the founder of Upstream Awards.
[Interview] Caroline Gertsch, Country Director, Amani Institute, Kenya
Caroline Gertsch is the Country and Programs Director of Amani Institute, founded in Nairobi, Kenya. The Institute commences a 5-month Leadership and Management program this year that is directed toward middle to upper level managerial trainings in Kampala, Uganda.
[Interview] Geofrey Ndobo, Business Development Manager, PPG, Uganda
Geofrey Makavelli Ndobo is Sales & Marketing Manager at People Performance Group, a consulting, outsourcing and Human Resources company based in Kampala, Uganda.
[Interview] Elton Mutize, CEO Paradigm, Uganda
Elton Mutize is a coach and consulting expert with progressive 14 years’ experience working in Financial Services, Property, Media, Manufacturing, FMCG, Internet of Things (IoT) and Management Consulting sectors in an Executive and Consulting capacity. He is the Founder and CEO of Paradigm, Uganda.
Africa Business Communities Networking Event | Kampala | 26 June 2018
Africa Business Communities will be coming to Uganda. This is an excellent opportunity to meet and network!
[Interview] Maria E. Auma, Managing Partner, Blue Luxury Investments, Uganda
Maria E. Auma is a Ugandan entrepreneur and finance expert. She is currently the Managing Partner of Blue Luxury Investments, an investment management firm based in Kampala, Uganda.
[Column] Bob Koigi: Deepening regional trade and East African integration with one stop border posts
Traders passing through East African border points have traditionally grappled with harrowing experiences, from bureaucratic procedures to harassment by custom officials.
[Vacancy] Freelance African Tech Journalist
Africa Business Communities will be developing a Tech Platform on its website and is therefore looking for a freelance journalist/webmaster
[Interview] Jameel Verjee, Founder & CEO, CityBlue Hotels, East Africa
Jameel Verjee is a British entrepreneur expanding his business in the hospitality industry across East Africa. He is Founder and CEO of CityBlue Hotels, founded in Rwanda and now expanded into Kenya and Uganda.
[Column] Bob Koigi: East African Community. Whither integration agenda?
If the East African community member states are not burning each other’s chicks, or auctioning cows, they are embroiled in trade disputes and mistrust in what has become characteristic of the integration journey.
Investors hiring expats in Africa must demonstrate importance of skills - Bowmans Law Firm
East African countries are grappling to balance two sometimes conflicting needs. On the one hand, they want to encourage foreign investment. On the other, they want to ensure that local skills and labour are not displaced by imported skills.
Digital Marketing Masterclass in Kampala and Kigali
Discover proven social media and digital marketing techniques that can boost your business online, increase your marketing impact and put digital, social and mobile into perspective.
[Interview] Michael Leander, Founder and CEO, Markedu
Attendees at the upcoming Digital Marketing Masterclass taking place in Uganda and Rwanda can win an iPad and other prizes. Africa Business Communities has asked Markedu founder Michael Leander what this event is all about.
[Interview] Maria Auma, CEO, Blue Luxury Investments, Uganda
Maria Auma is a Ugandan entrepreneur and investment specialist. Her company, Blue Luxury Investments, specializes in connecting investors with viable businesses.
IMPACC opens up its call for investment applications of up to $150k in social ventures in EA
Impacc gGmbH has announced a call for applications for its third venture cohort of investment in innovative entrepreneurs in Rwanda, Uganda, and Tanzania, who will get a smart equity investment to scale their businesses.
[Uganda] PesaPal to accept Airtel Money payments
Nairobi-based fintech company PesaPal has partnered with Airtel Mobile Commerce Uganda Limited (AMCUL) and PesaPal Uganda to provide payment solutions through Airtel Money.
MTN Group commits to support industrialization of Uganda
Re-iterating MTN's commitment to Uganda, Mupita proposed facilitating a two-day investment summit in Kampala in May 2023 in collaboration with the relevant government ministries and departments as well as the Forum of South African Businesses in Uganda.
Suminter raised 53 million USD funds from Morgan Stanley India Infrastructure and IFU for organic agriculture
Suminter, an Indian B2B supply chain management company for organic agricultural products, has raised 53 million. USD in funding from Morgan Stanley India Infrastructure and IFU.
MTN GlobalConnect advances female leadership across its operations
Juliet Nsubuga will take the lead as Managing Director, of MTN GlobalConnect Uganda, effective 1 April 2023, and Josephine Sarouk will assume the role of Managing Director, MTN GlobalConnect Nigeria, effective 1 March 2023.
7 African Startups to receive $385k in developing solutions for blue economy
Climate resilience venture launcher Triggering Exponential Climate Action (TECA) has announced the selection of seven startups to each receive $55,000 in funding to advance their solutions for the blue economy in Africa.
OPEC Fund provides $20m loan to boost cardiovascular healthcare in Uganda
The OPEC Fund for International Development (the OPEC Fund) is providing a $20 million loan to Uganda to support the construction and equipping of the Uganda Heart Institute in the nation’s capital, Kampala.
Ugandan Startup, Agro Supply received $200k to accelerate their growth
Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has announced a $2 million investment in 10 startups developing solutions to improve the resilience of communities most vulnerable to climate change in Africa including Agro Supply from Uganda.
Nigeria’s AFEX expands its Commodities Exchange business to Uganda
After expanding its commodities exchange business in Kenya in June last year, Nigeria’s AFEX is now expanding to Uganda. Similar to Kenya and Nigeria, farmers in the country will benefit from AFEX’s tech-enabled services for agricultural producers.
Flow Global a 2022 Inclusive Fintech 50 Winner
Flow Global a Fintech company was part of the top 50 Fintech companies identified by Inclusive Fintech 50 (IF50) as a rising and promising business that is helping to drive financial inclusion in the world.
FMO provides funding for motorcycle financing in Kenya and Uganda
Dutch development finance institution MO has provided a $15 million and $5 million senior term loan to Wat Credit Kenya and Wat Credit Uganda, respectively.
Raxio continues pan-African expansion by developing Angola’s first carrier-neutral Tier III data centre
Raxio Group (Raxio), a premier pan-African data centre developer and operator, announced that it is investing and establishing ‘Raxio Angola’, the first state-of-the-art, carrier neutral, Tier III data centre in the country.
Uganda declares end of Ebola disease outbreak
Uganda has declared the end of the Ebola disease outbreak caused by Sudan ebolavirus, less than four months after the first case was confirmed in the country’s central Mubende district on 20 September 2022.
10 African climate change startups receive $2m investment from Catalyst Fund
Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has announced a $2 million investment in 10 startups developing solutions to improve the resilience of communities most vulnerable to climate change in Africa.
[Uganda] Government starts payment of Shs2.5 trillion matured securities
The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19.
Plesion Capital invests $500,000 funding in Ugandan fintech company Xeno
In line with this strategy, Plesion Capital has announced its inaugural investment of $500,000 in Uganda-based XENO Corporation’s, XENO, $2 million seed round, which was led by Beyond Capital Ventures.
Swedfund invests 15 million Euro to reach MSMEs
To support the development of small enterprises (MSMEs) and individuals in sub-Saharan Africa, Swedfund is investing an additional EUR 15 million in the microfinance institution Platcorp, targeted at clients in Kenya, Uganda and Tanzania.
Cellulant's payments operations licensed by the Bank of Uganda
Cellulant launched operations in Uganda in 2009 and through its single API payments gateway - Tingg - enables global, regional and local businesses to collect payments online and offline serving its customers with locally relevant payment methods, including mobile money, cards & banks.
MFS Africa granted 3 payment licences by the Central Bank of Uganda
MFS Africa has been granted three licences by the Central Bank of Uganda to allow the fintech company to extend and deepen its offering in the country.
MTN to drive digital skills for digital jobs with launch of MTN Skills Academy
MTN has launched the MTN Skills Academy to develop people across the continent as producers, consumers and innovators of digital technologies.
Novo Nordisk Foundation, WFP launch partnership to improve food systems in Rwanda and Uganda
The Novo Nordisk Foundation and the United Nations World Food Programme (WFP) have sealed a partnership to further advance WFP's homegrown school feeding and smallholder farmer support programmes in Rwanda and Uganda.
Kuda Bank confirms expansion plans to UK and Ghana
Kuda Technologies had officially acquired more than 4.6 million customers and has strategic plans to extend its operations to the United Kingdom, Ghana, and Uganda as soon as regulators give their approval.
NALA enables Google Pay payments from the US and UK into Africa
NALA, a Tanzanian fintech startup facilitating remittances from the African diaspora in the UK and US, has integrated Google Pay into its suite of payment options for users.
Kenyan fintech Tanda plans agency banking entry in Uganda, Rwanda, Tanzania
Kenyan agency banking as a service provider Tanda is expanding its operations regionally after closing a seed funding round last month.
Pezesha is partnering with EzyAgric to offer Buy Now Pay Later services to farmers in Uganda
Agro-inputs distributors working with EzyAgric will be able to apply for inventory financing in the form of short-term credit to buy genuine and affordable inputs stock right when they need it and pay for it later.
KfW supports COVID vaccination campaigns and logistics in West and East Africa
The financing agreement was signed between KfW and UNICEF for EUR 25 million to improve vaccine logistics in the West African countries, KfW is also supporting vaccinations against COVID-19 and other infectious diseases in East Africa.
IFC partners with Nespresso to support coffee farmers in Uganda and Zimbabwe
IFC and Nespresso announced a new partnership to promote more sustainable, resilient, and inclusive livelihoods for coffee-growing communities in Africa while preserving some of the world's rarest coffee varieties.
Ugandan fintech company Quest Digital Finance connects the unbanked to formal credit systems
Uganda is home to 25 commercial banks, four microfinance deposit-taking institutions (MDIs), three credit institutions and more than 300 non-deposit-taking microfinance institutions.
Uganda eyes world silk market as supply drops
Uganda has the opportunity to graduate from subsistence to commercial farming in some strategic sectors like silk production to become one of the leading suppliers.
Afreximbank and FCI hold factoring workshop in Kampala
Held alongside the Afreximbank Trade Finance Seminar, the theme of the conference was “Factoring, the liquidity solution for SMEs”.
Pezesha has announced USD 11 million Pre-series A
Pezesha’s Pre-series A has been split between USD 6 million in equity and USD 5 million in debt. Verdant Capital’s participation is as a debt investor.
Tugende closes pre-Series B funding raising a total USD 10 million arranged by Verdant Capital
Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking.
Ugandan agritech startup Inputi receives investment to boost inputs distribution
The Ugandan tech company Inputi is improving the odds in its region with funding from Renew Capital, an impact investment firm growing small and medium-sized businesses in East Africa through its network of investors, Renew Capital Angels.
[Uganda] Fintech startup Tugende raises $10 million pre-Series B funding to increase portfolio growth
Tugende continues to deliver this MSME support with award winning positive social impact to its clients and their beneficiaries
Novo Nordisk Foundation and World Food Programme launch partnership to improve food systems in Rwanda and Uganda
The Novo Nordisk Foundation has committed a $4.1 million grant to improve health, nutrition, food security and incomes for marginalized and vulnerable smallholder farming communities. The objective is to build the resilience and functionality of food systems in the most food insecure regions of both countries.
Afreximbank launches Academy to train 8,000 Africans on trade-related subjects each year
African Export-Import Bank (Afreximbank) has launched the Afreximbank Academy (AFRACAD), a learning, knowledge, and networking hub designed to help advance African trade through capacity building and leadership.
Uganda granted land to Afreximbank for the construction of the Afreximbank Africa Trade Centre in Kampala
African Export-Import Bank (Afreximbank) has been granted land in Kampala by the Ugandan Government to build an Afreximbank Africa Trade Centre (AATC). The infrastructure will facilitate the flow of trade information and provide trade services across the East Africa Region.
[Uganda] Digital Lender Numida Raises $12.3 Million in Pre-Series A Round
Numida announced has secured a $12.3 million pre-Series A round of equity and debt funding to help it expand its team and move into new markets.
Uganda to Host African SME Forum aimed at developing investment and markets
Uganda will host the 7th edition of the Africa SME Champions Forum, the event, co-hosted by the Arab Bank for Development in Africa (BADEA) and empowered by AfricSearch, will bring together 300 of Africa’s top SMEs, institutional funding organisations, venture capitalists, angel investors and ecosystem builders.
BADEA extends USD20 million to UDB for private sector development in Uganda
The Arab Bank for Economic Development in Africa (BADEA) has approved a USD20 Million funding line to Uganda Development Bank Ltd (UDB), the country’s national Development Finance Institution, aimed at supporting the private sector in Uganda.
Kenyan startup Kyosk Digital expands to Uganda
Kyosk Digital Services which aims to address some of the challenges that vendors of fast-moving consumer goods (FMCGs) go through in sourcing products and restocking their outlets has expended to Uganda
Uganda Bureau of Standards launches new laboratory to enhance quality standards
The Mbale Laboratory is part of three regional laboratories that UNBS has set up outside of the capital in an effort to decentralise its services and make them more accessible to traders.
Agribusiness Development Centre launched a Business Accelerator Program (BAP)
Agribusiness Development Centre powered by dfcu limited and Rabo foundation has launched a Business Accelerator Program (BAP) that will attract Agribusinesses getting out of ideation phase and offer them a business acceleration opportunity which should enable these enterprises to attract markets and funding for growth and sustainability of their operations.
MTN Uganda and Enabel handover new ICT laboratory
Vocational education in the Albertine region has received a major boost following the handover of a fully furnished ICT laboratory to Millennium Business School. The facility jointly established by MTN Uganda and Enabel is aimed at facilitating ICT-enhanced learning.
4G Capital recognized by IFC anf SME Finance Forum for global responsible digital innovator of the year
African Micro and small business-focused neobank 4G Capital has received an Honourable Mention for Responsible Digital Innovator of the Year at the 2022 Global SME Finance Forum Awards.
EUTELSAT KONNECT sélectionné par Liquid Intelligent Technologies pour fournir de l’Internet à haut débit
Le satellite EUTELSAT KONNECT sélectionné par Liquid Intelligent Technologies pour des services de connectivité à large bande en Uganda, au Sud-Soudan et en République Démocratique du Congo.
Business Treepz launches as Treepz celebrates third year anniversary
Africa’s leading shared-mobility startup, Treepz, is set to launch Business Treepz, a new service aimed at providing staff bus solutions and bus rental service in a structured, accessible, and predictable manner for corporate organisations including companies, schools, tour operators and individuals.
Lipalater Uganda partners with Millenium Infosystems to access quality IT Solutions affordably
Lipa Later Uganda has entered into a strategic partnership with Millenium Infosystems to allow consumers to access quality IT solutions affordably in Uganda ranging from small operations to big sized corporations.
[Uganda] Parliament passes new law to curb cyber crime
The Ugandan Parliament has passed the Computer Misuse (Amendment) Bill, 2022 which prescribes tougher penalties for those perpetrating cyber crimes.
[Uganda] Luno partners with The Makerere University Business School to drive crypto education
Luno, the leading global cryptocurrency investment platform has partnered with Makerere University Business School, Uganda’s leading business school as part of Luno’s nationwide cryptocurrency education drive.
Xente Tech acquires PSO license from Bank of Uganda
PSO license open up opportunity for Xente to provide world-class financial technology solutions to businesses in Africa and is a commitment to Xente customers, partners, and other stakeholders, that they are offered a safe and compliant service.
Insurtech startup Turaco secures $10 million funding to drive insurance adoption
Turaco, the insurtech driving mass market insurance adoption, has announced the close of a $10 million Series A equity round led by AfricInvest, via the Cathay Africinvest Innovation Fund, and existing investor, Novastar Ventures.
Verto announces new partnership with Africa-focused firm Xente
B2B cross-border payments firm Verto has partnered with Xente, a multicurrency digital payments platform for African businesses, to provide cross-border payment services to non-governmental organizations (NGOs) in Uganda.
Liquid Intelligent Technologies picks EUTELSAT KONNECT satellite for broadband connectivity services in Uganda, South Sudan and DR Congo
Under the agreement, Liquid will leverage capacity on the EUTELSAT KONNECT satellite to increase its portfolio with affordable internet services in territories underserved by terrestrial networks.