HiPipo Money

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For five days running, the children of Kiswa Primary school in the outskirts of Kampala have been engrossed in the world of ICT, courtesy of the MTN ICT in Education drive for Primary School going children in the peri-urban and rural areas.

MTN Foundation in partnership with the Makerere University College of Computing and Information Sciences (CoCIS) kicked off the “ICT Clubs for Primary Schools” initiative at Kiswa Primary School. Through the newly acquired MTN Internet Bus, students and teachers were taken through experiential introductory training in computer and internet driven education.

The initiative is in alignment with the MTN Foundation strategy which focuses on social and community investment in Education, Health and National Priority Areas.

According to Anthony Katamba, MTN Uganda General Manager Corporate Services, the objective of this initiative is to create social and peer to peer learning of information technology solutions from the grass root of the educational structures.

“This will be achieved through setting up ICT clubs in primary schools, training of learners and teachers, donation of hardware and internet solutions to the clubs and scholarships for ICT training for patrons of the various school ICT clubs across Uganda”, he said

The project kicked off with a pilot phase covering pioneer Government schools in Kampala that will include five selected schools namely; Kiswa Primary School, Nakasero Primary School, Buganda Road Primary School, Bat Valley Primary School and Kitante Primary School.

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While mobile money is now available in most emerging markets, active usage is still low in many of these countries. Far still, its full potential is yet to be realised in countries where usage has seen deeper penetration.

According to the GSMA state of the industry report, only about 30 percent of registered mobile money accounts are actively used globally.

“Bridging the gap between registration and active usage will require providers to design products and services that are not simply ‘great ideas,’ but truly meet the needs of end users in Uganda and across Africa” said Innocent Kawooya the Partner, Cyberplc and CEO HiPipo.

Digital impact Awards Africa (DIAA) has introduced 3 categories to research and award innovation and excellence in the deployment of digital financial services to improve financial inclusion. These categories are:

1. Best Payments/Transfers Service
2. Best Online/Mobile Banking Service
3. Best Mobile Money Service

For mobile money integration to deliver full digital experience, mobile money should be integrated with web payments to fuel m-commerce and e-commerce on the African continent. DIAA has 3 categories whose ultimate success is tied to the penetration and use of internet connected system and digital payment channels. These categories are

1. Best E-Commerce Classifieds/Marketplace
2. Best E-Commerce Store/Service
3. Best E-Service

For sustainable use of digital financial services to improve financial inclusion, there has to be trust in the digital financial systems. Due to this necessity the DIAA category for Best Cybersecurity Practice will review how well our digital financial services especially those accessed through internet channels are adopting best cybersecurity practices.

“Our research will include, the state of mobile money product offerings including those integrating with web payments. We shall also research on the evolution of mobile finance solutions including mobile insurance, mobile credit and mobile savings,” Kawooya explained.

Digital Impact Awards Africa entry is open. The awards will be held on 13^th August 2015 at Serena Hotel Kampala.

DIAA is proudly presented by Cyberplc and HiPipo, supported by NITA-U and leading organisations in the digital space. 

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Exit of non-core businesses will permit de-risking, deleveraging and the capture of growth opportunities at core subsidiaries. Additional liquidity from the exit of Tanmeyah will be used to finance share buybacks by Qalaa Holdings.

Qalaa Holdings (CCAP.CA on the Egyptian Exchange), an African leader in infrastructure and industry, has appointed CI Capital to study strategic options for the full exit of Tanmeyah for Microfinance Services, a non-core subsidiary in which Qalaa holds a 70% stake. Tanmeyah is the largest private microfinance provider in Egypt.

“Qalaa Holdings is on track in divesting non-core holdings. Our ongoing divesture of those non-core businesses will allow us to de-risk, deleverage and to invest in growth opportunities for our core subsidiaries. The exit from Tanmeyah, if concluded, would provide us with liquidity that exceeds the needs of both our current deleveraging program and our financing needs, and permits share buybacks by Qalaa Holdings on an opportunistic basis,” said Ahmed Heikal, Qalaa Holdings’ Chairman and Founder.

“Management and the Board of Directors are firmly convinced that Qalaa’s shares trade at a steep discount to their fair market value and that the acquisition of treasury shares thus represents an exceptionally compelling path to the creation of shareholder value,” said Qalaa Holdings Co-Founder and Managing Director Hisham El-Khazindar.

The potential exit of Tanmeyah is part of Qalaa’s previously announced program to divest a number of its non-core subsidiaries. The current status of these divestitures is as follows:

• Misr Glass Manufacturing: Due diligence concluded by a number of potential acquirers who are due to submit final binding purchase offers in the coming period.
• Dina Farms: Due diligence by a number of potential acquirers is set to begin in May 2015, with the close of the transaction expected in 2H15.
• Rashidi El-Mizan: Due diligence by a number of potential acquirers is set to begin in May 2015, with the close of the transaction expected in 2H15.
• ASEC Cement Algeria (Djelfa): Qalaa is in advanced talks to exit with short-listed bidders.
• Zahana Cement Company (also in Algeria): Qalaa is in talks with its Algerian partners in the company for an SPA that would see them acquire Qalaa’s stake in Zahana
• Tebbin Port Land (owned by National Company for River Port Management S.A.E.): Purchase offers received and under evaluation.
• Nile Food Industries (Enjoy): Information memorandum has been withdrawn by potential acquirers.
• Egypt October for Food Industries (Elmisrieen): A number of potential buyers have expressed interest. Qalaa expects the due diligence process to soon begin.

“Qalaa may explore additional exits to permit further share buybacks for so long as management sees the company’s share trading at a steep discount to its fair market value,” concluded Heikal.

In 2014 and early 2015, Qalaa Holdings completed exits of non-core assets including Sudanese Egyptian Bank, Sphinx Glass and foundries AAC and AMC as well as Pharos Holding. 

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Leading property portal shares some tips on how to avoid falling victim to mortgage fraud.

Purchasing your dream property can be made easier with the help of the different types mortgages that have been put in place by banks and financial institutions. However, securing a home loan could also become your worst nightmare if you fall victim to mortgage fraud.

Shakib Nsubuga, Country Manager of leading property portal Lamudi Uganda, said: “With the increase in people investing in real estate, there has been an increase in mortgage fraud. Everyone should take extra precautions when getting a mortgage because you stand to lose a lot of hard-earned money if you fall victim to these fraudsters.”

As much as financial institutions are trying to combat the issue, mortgage fraud is becoming an increasingly problem. With Uganda’s real estate market growing fast and people rushing to invest in property, Lamudi Uganda shares important tips on how to avoid mortgage fraud.

Be vigilant and cautious

Make sure you understand everything you are signing. Do not sign any documents that you are not sure about. If there is something you do not understand or about which you have doubts, consult your lawyer or a trusted financial advisor. Look out for any documents that contain blank spaces and hidden costs as they can leave you vulnerable to fraud.

Research and verify all documents and dealings.

Look through all the loan documents to ensure all the information including your name is accurate in order to avoid any kind of misrepresentation which could lead to fraud. If possible, seek referrals for real estate and mortgage professionals from trusted friends and family. This can lower the risk as these people have already interacted with this individual and can vouch for him or her. However, it is advisable to still maintain your guard.

Honesty and transparency

Avoid being pressured into borrowing more than you can afford to repay because this will lead to more damages and debt that might put you at risk. Make sure that you are honest about your finances and what mortgage you can afford so as to avoid any chances of foreclosure. Avoid inflating numbers or giving false information because this is also considered fraud and could create more trouble than you bargained for.

Avoid going through third parties

Purchasing a property involves a lot of paperwork and all this may be tedious and tiresome. However, if you do not have a trusted lawyer or agent make sure that all documents and dealings are monitored closely by you. With hands-on management and direct contact, you will be able to keep an eye on what kind of mortgage and payment you are signing up for.

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How can fast growing start-ups overcome the obstacles to success?

Starting a new business can be as terrifying as it is exciting. At any given time, a fledgling company can come up against a number of common challenges. From hiring the right people to defining your brand, start-ups must overcome these obstacles to ensure success.

Competition

One of the biggest challenges that all start-ups will face is competition, particularly in markets dominated by well-known, established brands. The key is to find a niche market, not yet saturated by other companies with the same product. As there will almost always be another brand offering a similar product, think outside the box; ensure you establish a clear target audience and a specific brand message to differentiate your start-up.

Hiring

Hiring employees to support your venture can be a nerve-wracking experience, but is one of the most important investments for any start-up. To find the right talent whilst sticking to a budget is a challenge for any company, in particular for unknown brands. Building a strong team to nurture and develop a young company is key to success; as you are putting your time, money and trust in your team, it is worth the investment.

Keeping up with change

With advances in technology and the shift online, information is constantly changing. Not only keeping up but staying ahead of the competition is a significant challenge for young companies. Furthermore, with plans to roll a start-up out into multiple markets, each country needs to be approached with an individual strategy based on market conditions.

According to Kian Moini, co-founder of global property portal Lamudi, which began operations in October 2013: “It is difficult to generalize across markets because no two countries are exactly the same, even though there are some similarities.”

A key challenge in some markets, such as Myanmar for example where the Internet penetration is among the lowest in the world, is convincing consumers of the value of the Internet and e-commerce – the value in shifting online. In other more mature markets, which are already heavily digitised, there is stiff competition for start-ups from well-established competitors.”

The website

Making sure that your product keeps up with changes in the market is vital. For Internet-based start-ups, this often means adapting the website. Is your website mobile-friendly? Does it have an attractive, easy-to-manage user interface? With so many websites, it is difficult to make yours stand out in the crowd – however, a secure, reliable and well-performing website can often speak for itself.  

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Kaymu Uganda has proven to be not just any other e-commerce website. Uganda’s Number One Online Marketplace recently took it to the next level, partnering with the Rotaract Club of Kampala City in the support of an initiative recognizing the necessity of Maternal Health Care in the country. The Rotaract Club of Kampala is a volunteer organization made up of various business and professional leaders who aim at helping to build goodwill and peace in the country through a number of humanitarian activities and just causes, health being one of the key interventions.

This year, the maternal health care campaign was developed to generate awareness and build recognition towards the growing necessity in the country. Maternal health care has been a pending issue in Uganda as even the maternal mortality rate has proven to be devastating. The initiative aims at granting women access to high-quality maternal health care services through cooperation and partnerships with community leaders, companies, women and health workers to understand and address the reasons for the vast records of maternal sickness and the rising death rates for the women and children living in unbearable conditions.

Kaymu, in conjunction with the Rotaract Club of Kampala City, held an annual literacy quiz Understanding the Maternal Health Challenge; A week-long event that ran from the 23^rd of March to the 28^th Grand Finale. The Rotaract Club of Kampala City is supported by Rotary Club, a large humanitarian organization that carries out a wide range of community service projects in various parts of the country. The event, which was held at Sundowners, identified the need to generate awareness and share ideas concerning Maternal Health Care. Kaymu’s Country Manager, Justin Christianson, also took some time to sensitize those that were present, on some of the advantages of e-commerce and the benefits of partaking in the buying and selling of products online. The event attracted companies from far and wide including the New Vision, Axial, Urban Tv, Nyange and DFCU, as well as nearly 30 Rotary clubs in Kampala and 50 Rotary Clubs Up country.

The event managed to yield up to USD. 10,000 from both foreign and local sponsors, but nonetheless, the collaborators called upon the public to take this initiative into their own hands as the mothers of our nation are the foundation of our existence. Kaymu also launched an online campaign towards the cause by enabling online buyers to donate 10% of their purchase costs towards the maternal health care initiative. This can be done by simply typing # MaternalHealthMatters in the comment box upon placing their orders. Alternatively, Kaymu also allows buyers to purchase charity products or items should prove to be necessities towards the maternal health care initiative, e.g. mosquito nets, appliances, health products, and many others, all of which are availed at affordable prices on kaymu.co.ug.