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.
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.
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 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.
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 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.
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.
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.
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.
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.
[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.
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 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 has launched the MTN Skills Academy to develop people across the continent as producers, consumers and innovators of digital technologies.
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 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, 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 agency banking as a service provider Tanda is expanding its operations regionally after closing a seed funding round last month.
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.
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.
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
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.
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 has the opportunity to graduate from subsistence to commercial farming in some strategic sectors like silk production to become one of the leading suppliers.
Held alongside the Afreximbank Trade Finance Seminar, the theme of the conference was “Factoring, the liquidity solution for SMEs”.
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.
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, 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.
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.
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.
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 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.
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.
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
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.
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.
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.
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.
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.
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.
[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.
The Ugandan Parliament has passed the Computer Misuse (Amendment) Bill, 2022 which prescribes tougher penalties for those perpetrating cyber crimes.
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.
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.
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.
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.
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.
Promoting Cooperation for Supporting Japanese Companies Business preserving the environment in Uganda
La Fondation Mastercard recrute la prochaine cohorte de jeunes diplômés à travers l'Afrique et le Canada pour son programme de stages de 6 à 12 mois.
The Mastercard Foundation is recruiting the next cohort of young graduates across Africa and Canada for our 6-12 month Graduate Internship Program.
Mobile Money Corporation annonce le lancement la deuxième édition du MTN MoMo Hackathon au Cameroun.
New UN Women Country Representative Paulina Chiwangu formally assumed duty Wednesday after presenting her credentials to Uganda's Minister of Foreign Affairs, Hon General Jeje Odongo.
IFC's $35 million financing package will help Jubaili expand its production capacity in Nigeria, Ghana, Tanzania and Uganda, helping to offset Africa's reliance on agrochemical imports.
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.
Aleph Hospitality, the Dubai-based independent hotel management company, has solidified its presence in Uganda by taking over management of the Best Western Plus The Athena Hotel in Kampala earlier this month.
Le Fonds vert pour le climat (GCF) a approuvé la proposition de FMO et de Climate Fund Managers (CFM), d'un montant de 145 millions USD, visant à accélérer les investissements du secteur privé dans des projets d'eau, d'assainissement et d'océan à faibles émissions et résilients au changement climatique, intitulée Climate Investor 2 (CI2).
Green Climate Fund (GCF) has approved the joint FMO – Climate Fund Managers (CFM) USD 145mln proposal to accelerate private sector investments in low-emission and climate-resilient water, sanitation and ocean projects, entitled Climate Investor 2 (‘CI2’).
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.
The President of Uganda, H.E. Yoweri Museveni has committed to reaching over 1 million young people in Uganda annually with opportunities to accelerate the African Union Commission’s vision of reaching 300 million young people by 2030 under the 1 Million Next Level initiative.
MTN Group’s Mobile Money Application Interface (API) is inviting developers across several markets to participate in an Open API Hackathon, with a challenge to create a mobile application that uses MoMo APIs for use in their markets.
FSD Africa Investments (FSDAi), has announced an £8 million investment to support a new class of investors who are financing Africa’s small businesses and consider gender equity a key driver of financial performance.
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.
MTN Uganda has appointed Sylvia Mulinge as the new Chief Executive Officer (CEO) effective October 1, 2022.
The African Development Bank launched a 19-billion Ugandan shilling (UGX) ($5.07 million) 2-year theme bond, the first-ever African frontier currency-denominated ESG issuance by a multilateral development institution.
A project in Uganda is working with communities to strengthen the fish value chain, tackle post-harvest losses and improve the nutrition of mothers and babies.
According to Pesapal Uganda Country Director Martin Barungi, the authorization gives Pesapal a license to drive cashless transactions and related benefits, including financial inclusion and convenience.
KOICA and ITC signed a grant arrangement to enhance natural disaster resilience and competitiveness of farming households and agribusinesses in Uganda, particularly affecting women farmers in Northern and North-eastern Uganda.
Uganda is contributing nearly $10 million to the latest phase of a South-South Cooperation project focused on crop and animal production with the Food and Agriculture Organization (FAO) and the Chinese government.
Over $5 million in funding to support farmers and agribusinesses in Uganda to become climate resilient
ITC and KOSME launch Youth Start-up Academy to improve start-up ecosystem in Uganda, increasing employment and business creation.
Tugende, the East African fintech platform providing asset financing and digital services to small businesses, announced it has raised a pre-Series B investment round led by current shareholder Partech Africa.
[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.
Financial inclusion in Uganda is low and almost a third of the rural population has no access to financial services. A new investment in aBi Finance will give small farmers access to financial services that will enable them to increase their production and improve their living conditions. The investment is co-financed by the EU.
Un nouvel accord pour améliorer la santé et l'équité en matière de vaccins pays en voie de développement
L'Accord pour un monde plus sain est dirigé par Pfizer et offrira tous ses médicaments et vaccins protégés par des brevets, y compris le vaccin COVID, qui sont disponibles aux États-Unis et dans l'Union européenne, à titre non lucratif, à 1,2 milliard de personnes dans 45 pays à faible revenu.
An Accord for a Healthier World is led by Pfizer and will offer all its patent-protected medicines and vaccines, including the COVID jab, that are available in the US and the European Union on a not-for-profit basis to 1.2 billion people in 45 lower-income countries.
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
Innovate Now, Africa first Assistive Technology (AT) Accelerator has announced its fifth cohort of innovators, ventures providing digital AT or using digital to increase access to AT products or services.
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
The African Development Fund (ADF) approved a loan of $71.5 million to pave sections of two roads in southwestern Uganda, a project expected to boost livelihoods, school attendance and rural connectivity.
Jubilee Holdings (Jubilee Insurance), East Africa’s insurance group, and Allianz, world's insurers and asset managers, signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates.
The World Bank has appointed Mr. Keith Hansen as the new Country Director for Kenya, Rwanda, Somalia, and Uganda effective September 8, 2020.
Software Group, a global software company with its regional head office in Nairobi, has won a new contract for its latest Agency Banking platform with BRAC Uganda Bank Ltd, a prominent financial institution in Uganda.
Ecobank Commercial Banking has launched its Ellevate Leadership Training Programme in partnership with the Global Business School Network (GBSN).
Yo Uganda Limited is a fintech company that is revolutionizing the payment landscape in East Africa.
French oil and gas major Total along with its partners has completed the final agreements required to build the $3.5bn Lake Albert development project in Uganda and Tanzania.
Swedfund annonce un investissement supplémentaire de 4,45 MUSD dans African Rivers Fund 3 (ARF 3), portant l'engagement total de Swedfund à 14,45 MUSD.
Swedish Development Finance Institution Swedfund announces an additional investment of 4.45 MUSD in African Rivers Fund 3 (ARF 3) increasing Swedfund’s total commitment to 14.45 MUSD.
Pour l'économie numérique en pleine croissance dans les villes et les zones rurales d'Afrique, Axian Telecom offre un accès Internet sécurisé et fiable et des services financiers numériques en Tanzanie, à Madagascar, au Togo, au Sénégal et en Uganda.
For the growing digital economy in African cities and rural areas, Axian Telecom offers secure, reliable Internet access and digital financial services in Tanzania, Madagascar, Togo, Senegal and Uganda.
AGRA and AIM for Climate announced partnership to accelerate investments for climate-smart agriculture
The Alliance for a Green Revolution (AGRA) and Agriculture Innovation Mission for Climate (AIM for Climate) announced partnership to accelerate investments and support for climate-smart agriculture and food systems innovation.
The Committee on Trade, Tourism and Industry has directed Uganda National Bureau of Standards (UNBS) to withdraw their distinctive marks on all the energy drinks which have violated standards.
Goodlife Pharmacies raises $12m to increase access to quality medicines and healthcare services in East Africa
Healthcare and retail pharmacy chain, Goodlife Pharmacies, raised $12 million in debt financing from Proparco, the French Development Finance Institution, to increase access to quality medicines and healthcare services in East Africa.
Buy-now-pay-later (BNPL) company Lipa Later operating in Kenya, Rwanda, Uganda and Nigeria, has announced it will be offering all it’s employees 6-month paid maternity leave effective April 1st 2022.