Bloomberg today announced the launch of Bloomberg.com/Africa, a regional edition of Bloomberg’s flagship digital destination designed to serve the continent’s growing audience of business and financial professionals.
Bloomberg Media CEO Justin B. Smith unveiled the new edition at the second Bloomberg ‘Africa Business Media Innovators’ (ABMI) forum today in Naivasha, Kenya, which convened media, technology and business influencers from 11 countries – including nine African nations – to explore the role business and financial journalism plays in bringing accountability, transparency and investment to African economies.
Bloomberg.com/Africa will combine the resources of Bloomberg’s more than 100-strong editorial team across seven bureaus in Africa, as well as Bloomberg’s global team of more than 2,600 reporters and analysts. It is the latest in a series of regionally-focused editorial platforms built to serve the growing audience of business and financial consumers seeking stories on global markets told through a local lens.
Speaking at ABMI 2016 in Kenya today, Smith said: “Our mission is to build the leading multi-platform global business and financial media company and delivering more relevant stories to our global audiences via localized platforms is central to our strategy. In the last year, we have launched regional sites in Europe, Asia and the Middle East, re-launched our Japanese language website and entered into an ambitious multi-platform partnership in India. We are excited to now expand our reach across Africa’s vibrant and growing economies.”
“Africa is playing an increasingly significant role in the global economy,” said Antony Sguazzin, Managing Editor Bloomberg, Sub-Saharan Africa. “With the launch of this dedicated regional digital platform, we are establishing a home to showcase the best of Bloomberg’s rich content on the people, companies, politics and economies shaping the continent.”
Bloomberg.com/Africa will be powered by Javelin, Bloomberg Digital’s new article and template design that was unveiled recently with the launch of Bloomberg Technology. Javelin provides a significantly improved user experience, reducing page load time, which is critical in delivering a faster mobile experience for a largely mobile-driven African audience. Bloomberg.com has seen impressive growth in the region in mobile – in the last three months, the site has seen +23% growth in mobile unique visitors compared to the same period last year[i].
The best of the new edition’s content will be fed to a dedicated Africa Twitter handle @BBGAfrica. Bloomberg will continue to explore the addition of Africa-specific products to expand its reach to this important growing economy, and where appropriate, seek partners to help scale Bloomberg’s reach across the continent.
Bloomberg has accelerated its global expansion in 2016. The company will continue to leverage its multi-platform distribution, strong global brand, technological assets and editorial resources around the world to grow aggressively in 2017. In 2016, Bloomberg Media’s total revenue year-to-date through September is up +8% compared to the same time period last year.
For the past 10 years the Qalaa Holdings Scholarship Foundation (QHSF) – Egypt’s largest private-sector-funded scholarship—has been awarding Egyptian students with post graduate scholarships to study at leading universities across the globe on the condition that they return to Egypt to work in their chosen field following the completion of their studies. The Foundation has thus far awarded 151 scholarships.
Recently, the Egyptian Refining Company (ERC), Qalaa Holdings’ US$ 3.7 billion greenfield refinery in the Greater Cairo Area of Mostorod, announced the launch of “Mostakbaly” a new initiative that aims to address educational inequalities amongst students in its surrounding community by granting them access to higher education at the American University in Cairo (AUC) and the Arab Academy for Science and Technology (AAST). In its first annual round of scholarships, ERC presented a total of six (6)students with funding to pursue undergraduate degrees; one will attend AUC and five will attend AAST.
“Education has always been one of the main pillars of our community engagement strategy because we firmly believe that the task of building a prosperous Egypt is largely dependent on our ability to push through with educational reform and funding,” said Ahmed Heikal, ERC Chairman and, Qalaa Chairman and Founder. “We are honored to play a part not just by investing in these bright young men and women, but by serving as an example of how a private sector entity can help lead change.”
ERC has been active on all fronts of the educational spectrum with programs in place for school refurbishments, teacher capacity building and support to students. Thus far they have upgraded facilities in a total of 4 schools and conducted partial maintenance on 12 additional schools and one local training center benefiting a total of 60,000 students and 1,000 teachers. A needs assessment exercise was also conducted to identify training objectives for teachers resulting in the administering of 21 training sessions for 444 teachers from local schools. Support for students has been given through the provision of school supplies, bags and uniforms for 1,304 needy students, and the successful completion of the “Naddarty” (Eye Glasses) program which conducted vision tests and subsequently provided 661 students with eye glasses.
In the pipeline within the Mostakbaly initiative is a program that will see 30 local kindergarten and primary school teachers receive scholarships to partake in AUC’s “Teaching Early Learners” (CELE) program, a professional educator diploma at the American University in Cairo designed specifically for teaching young children in the classroom, at home and within the community.
Halloween is around the corner and DStv is delighted to bring exciting news that will bring thrills and chills to our DStv Compact Plus and Compact customers! From Friday 28 October at 18:00 CAT to Sunday 30 October at 23:59 CAT, three of our top premium channels, M-Net, M-Net Edge and Vuzu AMP will be available to customers – at no extra cost!
This exciting announcement comes on the heels of MultiChoice’s latest initiative launched this week that will see an impressive price decrease for its DStv subscribers, plus some exciting new channels and a variety of premium content being added to DStv packages from 01 November.
And when it rains good news at DStv, it certainly pours! And this Halloween, if it’s horror you’re after, we’ll thrill you with Great Halloween Fright Night and American Horror Story on M-Net Edge. Our budding crime investigators can use their deductive skills as they watch Public Morals from the very first episode.
If the only bones you’re interested in are your funny bones, then give Mike and Molly a go (M-Net) or immerse yourself in our reality TV offerings on the same channel. Talented chefs from down under will battle it out on MasterChef Australia, or XFactor UK. Then there’s the Real Housewives of New Jersey or Love and HipHop on Vuzu Amp.
If superhero’s are more your thing, there’s DC’s Legends of Tomorrow, The Flash, Supergirl and The Arrow on Vuzu Amp. Or indulge your appetite for action with The Transporter Reloaded on the M-Net Sunday night movie.
If you’re a DStv Compact Plus or Compact customer, these channels will magically appear on your package, so you don’t even have to lift a finger. So have a happy Halloween on us!
DStv subscription prices slashed and more entertainment added to DStv Compact Plus, Compact, Family and Access
• PRICE DECREASE on DStv Premium by 14%, Compact Plus by 15%, Compact by 5%, Family by 9%
• PLUS: DStv customers to enjoy an entertainment bonanza with MORE variety, quality and exciting new content added to their packages
18 October 2016 – Great news for television lovers in Uganda – the revolution has arrived and everyone will continue to enjoy great family entertainment as MultiChoice delivers even more value to DStv Premium, Compact Plus, Compact, Family and Access! True to our commitment to our customers, today MULTICHOICE announced a decrease on DStv subscription prices alongside a massive content upgrade on DStv packages, effective on 01 November 2016.
MultiChoice’s priority is to put customers at the heart of our business – and this is exactly what we are doing! In the last 9 months DStv has delivered the world’s best football leagues to DStv Compact customers (February) followed by the DStv price freeze in April – and in the latest giant leap in providing customer value, DStv is offering the best value entertainment by combining both quality and variety at a reduced rate to ensure everyone has access to great family entertainment.
Today’s announcement introduces even greater changes to benefit customers – these include:
DStv Premium: More for less – more HD and pop-up channels at 14% less
DStv Premium remains the ultimate television entertainment experience in Uganda – with the best of everything including the world’s most popular local and international channels. To entrench real value, DStv Premium will now offer more for less with an unbelievable reduction of 14% on the subscription price from 1 November, the new subscription price will be UGX 287,250.
With the addition of eight high definition (HD) channels, customers can now watch more of their favourite shows including the latest and exclusive first run movies, drama, comedy and sport in picture-perfect, crystal clear quality on the 20 HD channels now available to them.
Also this October, DStv Premium customers will celebrate with M-Net on the M-Net Movies Blockparty pop-up channel on 109, and can look forward to more exciting pop-up channels in the coming months like the M-Net Movies Harry Porter pop-up channel which will run from 4 – 14 November.
DStv Compact Plus: Bigger and better with ELEVEN new channels at a 15% REDUCTION in price
In a major revamp of DStv Compact Plus, customers will enjoy more fantastic channels with buzzworthy original series plus hilarious local sitcoms, riveting talk shows and thought-provoking documentaries previously only available on the DStv Premium package along with a 15% drop in subscription price to UGX 190,700.
As of 1 November, new channels will include Vuzu AMP, Lifetime, Discovery channel, Crime & Investigation, History channel and Africa Magic Showcase. DStv Compact Plus will also be injected with extra sports content with the addition of more UEFA Champions League matches alongside the best European Football leagues and the Europa league on SuperSport 6 (SS6) and SuperSport 4 (SS4). New channels coming soon to DStv to bring the best of Nollywood content, Latin American telenovelas and Bollywood movies respectively, on the package include ROK, Eva Plus and B4U Movies.
DStv Compact: SIX new channels and a 5% price DROP in price!
DStv Compact will receive a 5% price drop to UGX 121,600 and will retain the previous addition of the Premier League and La Liga earlier this year. In additional to this, customers will now get even more content from the best of English programming on ITV Choice (DStv channel 123) as well as a trip down memory lane with the nostalgic movies on TCM (DStv channel 137) and SS4. From November onwards, Compact subscribers will also be treated to new channels, ROK, Eva Plus and B4U Movies!
DStv Family: FIVE new channels at a 9% price CUT!
The DStv Family package will be reduced by 9% to UGX 66 750 and will be boosted with FIVE additional channels B4U Movies, Eva and Eva Plus channels. More entertainment awaits with the addition of SS4 and FOX.
DStv Access: Gains THREE new channels!
DStv Access will also get a major content boost of three new channels that will be added including SS4, B4U Movies and Eva Plus – where viewers will get access to the latest library content of the hottest telenovelas that have aired on Eva – in addition to a great new line up of sporting events.
“This significant price drop, coupled with the major boost in entertainment value across all DStv bouquets demonstrates our commitment to ensuring DStv customers receive the best possible access to great entertainment and outstanding value. For new customers the price reductions in both subscription prices and state of the art decoders at just UGX 130,000 (full kit including one month of compact) will ensure that great family entertainment is available to everyone at the most affordable price. These changes are not only a defining moment in our MultiChoice story, but also a defining moment in the African entertainment landscape and we are proud to be pushing as hard as we can to delight every television entertainment fan in Africa,” said Charles Hamya, the General Manager of MultiChoice Uganda.
For more information of the new prices and upcoming programming on channels added to the various DStv packages, please visit www.dstv.com.
9th August 2016 will forever be remembered as a day that revolutionized banking!
On this day, MTN Uganda and Commercial Bank of Africa (CBA) opened up banking for the majority of Uganda’s unbanked population by launching a convenient and innovative mobile financial service named MoKash.
MoKash allows MTN Mobile Money subscribers to save between UGX 1 shillings to UGX 1.6 million, earn interests ranging from 2% to 5% on their savings and also get short terms loans of up to UGX. 1 million repayable within a month. In brief, with MoKash, MTN, a mobile telecommunications company by inception now offers the same vital services as all retail banks in the market. The only difference comes in the cash amounts/limits involved. That is to say; micro vs. macro financing and saving.
MTN and CBA Bank launch MoKash- 9th, August, 2016.
Just like Mobile Money, first launched by MTN Uganda in 2009, MoKash will definitely transform not only telecommunication business but the entire financial sector. Meanwhile, Airtel Uganda’s Savings and Loans product is also in the offing. We wait for the red brigade to unveil it whenever they are ready.
Barely seven weeks after its launch, MoKash already has over 0.6 million registered customers and more thousands and millions are expected in the coming weeks and months.
“We have received positive feedback from the public, our customers and other stakeholders. This is reflected in the customer sign ups and we are on track to get 1M customers in 3 months. Over 600,000 customers have so far registered for MoKash since its launch one and half months ago. We also see steady growth in customers’ deposits as well as loans,” Phrase Lubega, the MTN GM Mobile Financial Services (MFS) told HiPipo Money recently, adding;
“Over 150,000 customers are already saving with MoKash. Over 30,000 MoKash customers have taken out loans.”
Like you have read above and maybe from other write ups, most feedback around MoKash is rosy!
Nonetheless, just like many new products, MoKash still has some teething troubles that should be urgently addressed by the product owners or else they may hurt customers and change both the script and flow of what is currently a good story.
For instance, while MoKash’s saving function is working perfectly well, the borrowing arm is still very limited and somewhat letting down some customers.
Between September 9th and 24th, HiPipo Money conducted a random survey with over 30 MoKash registered customers. All these were able to save but only a handful could borrow. Whenever those that couldn’t borrow checked their loan limit, they received a zero limit flash message seen below.
“Your loan limit is UGX 0. Save more to Mokash to grow your loan limit!”
The figures from MTN validated the above survey findings. On more than 600,000 MoKash customers, only ‘30,000 had taken loans by 18th September.’
So, how much savings are required for one to be able to borrow on MoKash? Minus savings, what else is required for one to start borrowing with MoKash?
The MTN team acknowledged our findings and stated that MTN had “noticed some customers have a loan limit of 0 and are in the process of re-analyzing their data to update their limits where applicable.”
MTN’s acknowledgment of the nagging issue and commitment to fixing it soonest meant that there was no point dwelling on the issue any further.
That said, there is one patent matter very close to MoKash that needs some audience. Even if most media is silent about it, I will rise it here and now.
For a month, I have had in-depth discussions with friends about MoKash, its relationship with our banking sector and overall technology ecosystem. The facts, arguments and counter-arguments from our discussions depict a banking sector that is slow, and somewhat detached from the market realities of the environment in which it operate.
It is a fact that in November 2012, Safaricom and CBA launched M-Shwari (M-Pesa/Mobile Money Savings and Loans) in Kenya.
It is again a fact that in May 2014, CBA in partnership with Vodacom Tanzania introduced M-Pawa; a service that effectively allowed Vodacom M-Pesa customers to save and borrow money using their phones.
It is also a fact that on August 9, almost four years after Kenya got M-Shwari and two years after Tanzania received M-Pawa, MTN Uganda partnered with CBA Bank and rolled out a similar product for Uganda. CBA Bank appears in all these three projects.
Thus it is true to conclude that through having more unbanked people join the banked grid, CBA Bank is deliberately spearheading financial inclusion across East Africa. Whether planned or coincidental, CBA deserves more than a standing ovation for a financial inclusion job well done. Other banks are doing some recommendable work too but CBA is making a more tangible and believable difference.
CBA Bank is currently Kenya’s biggest bank by customer numbers with over 12 million customers as of December 2015. These are mainly Safaricom M-Pesa subscribers that registered for M-Shwari service and automatically became account holders of CBA Kenya. By end of 2015, these customers had transacted over KEX 70 billion (about UGX 2.3 Trillion) through CBA Kenya. So you know; one by one makes a bundle.
Safaricom’s M-Shwari performance as of December 2015.
In the same spirit and logic, CBA Tanzania and CBA Uganda are rapidly growing their customer bases through exploiting already existing technologies and platforms, in this case; utilizing existent mobile money technology. Barely seven weeks after the launch of MoKash, CBA has already registered more than 0.6 million customers (MTN MoKash Subscribers) thus becoming the fastest growing commercial and retail bank by customer base in Uganda. With such uptake, unless something drastic and unexpected happens, it is only a question of time before CBA becomes the biggest commercial bank in Uganda and Tanzania like it is in Kenya.
Other Banks Missing OUT!
But where were the other banks when CBA Bank was sealing this deal with MTN Uganda. They missed in action when CBA signed with Safaricom (Kenya), then didn’t show up when CBA signed with Vodacom (Tanzania) and now even in Uganda, they are nowhere to be seen. I mean was Stanbic Bank, Centenary Bank, Standard Chartered Bank, Crane Bank, Postbank, DFCU, and Barclays among other banks sleeping and thus missed their flights to Innovation Centre, 216, 14th Avenue, Fairlands and as such couldn’t close such a lucrative and game changing deal with MTN Group?
What were the other Banks’ research and products development teams up to when CBA Bank was developing this product in 3 East African countries? Is this line of business copyrighted to CBA ‘first’ before other banks come on board in East Africa?
There are just a lot of questions but with no clear answers.
Efforts to hear from several banks about this matter were futile as for days, none of them replied to the emailed questions. Those that did either promised to respond but haven’t until now or questioned, perhaps downplayed the media where the required content was expected to run. YES, we are only a digital platform and as such, they saw no urgency, maybe no need to respond! Had it been traditional media, sure deal, the feedback would be prompt. Analogue characteristics are still allover the place.
But again, we are not deterred. The resolve to contribute towards the development of Uganda’s tech industry through supporting different stakeholders, appreciating good work, and keeping players in check is what keeps us going. The digital revolution is real. It can only be delayed but won’t be stopped.
Ironically, with MoKash, other banks are now face to face with very honest and bitter realities. One of their cash goat is threatened and now, they have to move faster or else that cash goat may burn.
Just like how it was in Kenya and Tanzania, more banks are going follow suit and unveil related products very soon. I have learnt that Stanbic Bank Uganda has already tested a savings product and intends to roll it out any time soon. But why wait for that long!
MTN team at the launch of MoKash- 9th, August, 2016.
Even though Retail ‘over the counter’ betting is still popular, the Online Betting Revolution that kicked off a few years ago is seriously gaining momentum and taking shape across Uganda.
We recently conducted a random survey on over 50 dedicated ‘over the counter’ betters and the results were very encouraging and in favor of Online Betting.
Of the 50 Retail Betters interacted with, 41 acknowledged of either having heard about or knowing Online Betting, while 9 were not sure of what it was. Of the 41 that were aware of Online Betting, 28 had bet online at least once, another 5 were planning to try it out for the first time while the rest were undecided on whether to try out Online Betting for the first time or not.
The positive reception and growing usage of Online Betting over the dominant ‘Over the Counter’ Betting is attributed to the ease, security and convenience to bet online.
But the main boost for Online Betting is the Mobile Money integration function that allows customers to place their Bets using Smart Phones, Tablets, Laptops and Desktop Computers and pay through mobile money.
“I had never used this platform before and my worry was about how I would deposit and receive the money. I don’t own a bank card. But with mobile money functionality, I easily deposit money on my PAWA account and bet,” one Derrick Kasi, a growing user of BETPAWA online platform noted.
Ntulume Henry further noted that, online betting enables customers to easily monitor their bets as everything is saved on their accounts instead of a paper that can get lost or be blown aware by wind any time.
Nonetheless, some Customers were quick to note that Online Betting Companies need to invest more in their marketing so as to grow Customer confidence and ‘believability’.
According to BET PAWA Uganda, online sports betting is an advanced way of predicting on different sports activities using Internet .The beneficiary places a wager /stake on the outcomes.
“One needs to have a mobile money account, a smart phone or laptop. Your telephone number is your account through which you a stake is made and in the event of a win, your winnings are deposited,” Livingstone Mugambe, the marketing manager of BETPAWA Uganda noted in an email.
BETPAWA is among the fastest growing Online Betting Companies in Uganda with about 10,000 customers on a good day.
“Like all activities out there if done in excess they will be detrimental. Betting should never be seen as a way of life to make money but rather as entertainment where you wager disposable income much the same way as going out with friends for drinks or a movie. To help our clients in the event of abuse, we disable their accounts on request whenever they want. We strongly recommend responsible betting, adult age betting, we also advise people not waste time in betting centers. They can comfortably do this on their internet enabled handsets,” Mugambe added.
Considering that Uganda has over 6 million internet users and about 8 million mobile money users currently, there is a huge opportunity for Online Betting to prosper. The story so far is encouraging. Try it out today.
