Home Blog Page 31

More women are earning a living from the Boda Boda industry.

0

A few years ago, the Boda Boda (motor cycle) industry was seen as a men’s business. Women would only be customers seeking for Boda Boda services.

But this is fast changing. Even though the Boda Boda Industry is still dominated by men, more women have in the last 3 years joined as riders/drivers and mechanics. To frequent Boda Boda users, it is no longer surprising for a female to turn up as your Boda Boda rider or service delivery associate.

Amina Nanteza is among the women riders operating in Kampala, having joined the business through the NFT Mobility Program.

“I was among NFT’s initial employees. They trained us from scratch. I was not familiar with smartphones, but the training propelled me into working with Uber and other companies like Jumia as a delivery agent,” Nanteza explained.

“Currently, I can earn approximately sh450,000 per month. This income helps me support my children, cover school fees, and rent. Moreover, I’ve been able to save and invest in two additional boda bodas, providing opportunities to two young individuals as my secondary income source.”

NFT Mobility is a company specialising in last-mile infrastructure for transport with an ultimate goal of catalyzing the creation of hundreds of professional mobility service providers.

In 2020, NFT Mobility received support to a tune of UGX 500 million to further advance its mobility industry efforts. The funding came from the Lead Firm Structure (LFS) program implemented by Private Sector Foundation Uganda [PSFU] and the Mastercard Foundation.

The project generated a total of 571 direct job opportunities for young people aged between 18 to 35 years, establishing a nationwide network of riders, delivery agents and mechanics.

These include over 300 Women. All the employed women are actively contributing to various firms and earning a minimum of Sh250,000 per month, accompanied by provisional incentives such as lunch, transportation, and medical insurance, dependent on the respective firm.

Speaking at the NFT Mobility Project Stakeholders’ meeting at Skyz Hotel, Naguru,Mr Badru Ntege, director of NFT Consult said the Boda Boda ecosystem’s makes a significant contribution to the economy, representing 7% of Uganda’s gross domestic product (GDP).

“There is a pressing requirement for an ecosystem-wide conversation on effectively financing this sector. With 1.5 million young people engaging in motorcycle riding and interfacing with 7 million individuals daily, this sector’s economic significance cannot be overstated,” he said.

“We have built trust among our partners. We bought 200 boda bodas but we have only lost two among our riders. That shows the level of trust,” he said.

Further, Mr Apollo Muyanja Mbazzira, the LFS project director at PSFU, noted that this partnership offered young women and men a chance to economic transformation through the Boda Boda industry.

“Collaborating with NFT, we provided training to boda drivers, emphasising road safety protocols and facilitating their licensing requirements. We are happy to see that several young men and women have benefited from this partnership. From the testimonies made by the beneficiaries, it is clear that we now have more professional Boda Boda riders and mechanics,” he said.

Mr Mbazzira noted that NFT is just one of the over thirty-six (36) Lead Firms that have benefited from the LFS Program. Others include Yuvraj, Hot Loaf, Movit Products, Newman Foods, Ntake LTD and Mukwano Group among others.

Since its launch in 2019, the LFS program has so far mobilized 137,077 Ugandan Youth and managed to transit over 100,000 Youth into meaningful and dignified work, whilst targeting to create at least 300,000 jobs by 2025.

PSFU, Development partners pledge to support MSMEs’ transition into large enterprises

0

Development partners and Private Sector Foundation Uganda (PSFU) have committed to undertake joint efforts to support micro, small and medium-sized enterprises (MSMEs) to develop into large enterprises.

This commitment was made last week during a Private Sector-led development forum organized by Swisscontact; a development partner that is celebrating twenty-five years in Uganda.

According to Uganda’s Ministry of Finance, Planning and Economic Development, Uganda’s private sector comprises over 1,100,000 enterprises which employ approximately 2.5 million people, an equivalent of 90% of total non-farm private-sector workers. The private sector continues to be dominated by micro enterprises (93.5%), small enterprises (4.1%), and medium enterprises (2.4%).

 “Up to 98 of private sector is MSMEs. Where are the large enterprises? What are we not doing right, or what must we do to support and graduate these MSMEs into large enterprises?” Pavlos Troulis, the Uganda Country Director for Swisscontact noted.

He added: “We need to be sharing much more information, aligning and supporting each other. This event is about supporting the Private Sector to achieve its objectives. It is urgent that we work together with PSFU and other partners to support the transition from MSMEs to large enterprises.”

Further, Damali Ssali, the chief programs and projects officer at PSFU called for regular engagements; pledging that PSFU would be happy to host the secretariat that would spearhead the activities to fast-track MSMEs’ growth. 

“As an output and a celebration of the 25-year anniversary of SwissContact in Uganda, I would love to see us here establish as a private sector-led development platform where we can meet regularly and share information, lessons and much more to ensure the rapid growth of the private sector. As PSFU we would be happy to host the secretariat of such a platform,” Ms Ssali said.

She urged stakeholders to enhance research so as to provide evidence-based policy and advocacy position papers that will spur economic development.

“We are happy to partner with anyone who is in this space as we have access to over 3.5 million enterprises through our associations that can provide valuable data collection points,” she said. Swisscontact is an independent non-profit organization established in 1959 by the representatives of the Swiss private sector and civil society. It has in the past 25 years invested massively in Uganda in areas of Agriculture and Value Addition, along the way creating opportunities for thousands of Youth and Women.

Digital Excellence Rewarded at 2023 Digital Impact Awards Africa

The 2023 Digital Impact Awards Africa celebrated pioneering achievements and innovations in the digital sphere, honouring exceptional organizations and individuals who have showcased significant strides in advancing financial inclusion in Africa.

MTN Uganda & MTN MoMo took home the biggest award after being crowned as the Digital Brand of the Decade for their remarkable impact from 2014 to 2023 – the 10 years that this project has been running.

Standard Chartered Bank and Centenary Group received accolades in the Digital Brand of the Year category, with Diamond and Gold awards, respectively.

The Digital Impact Awards Africa is a platform that promotes Digital Inclusion, Financial Inclusion, and Cyber Security. The Awards recognize companies and stakeholders that are spearheading the use of digital mediums to serve communities and promote financial inclusion.

“The criteria of the nominees are always tight. Some innovators and companies have won every single year for their innovations and dedication to Digital Financial Inclusion,” Innocent Kawooya, the HiPipo CEO said.

The Digital Impact Awards Africa is part of the broader Digital and Financial Inclusion Summit organized by HiPipo in partnership with Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies and generously supported by the Bill and Melinda Gates Foundation.

Winners celebrated.

Hon. Joyce Nabbosa Ssebugwawo, the Minister of State for ICT applauded the winners for their contribution to developing Uganda and Africa. She challenged them to continue innovating as this is the only sure way of transforming their communities.

The accolade for CEO of the Year was bestowed upon Fabian Kasi of Centenary Bank, who claimed the Diamond award, while Richard Yego of MTN MoMo was honoured with the Gold award.

Under the category of Community Digital Empowerment Excellence, Cente Tech’s Digital Messaging Platform for Catholic Dioceses clinched the prestigious Diamond award, with Oracle Academy securing the Gold recognition.

FutureLink Technologies’ MSacco stood out in the Financial Inclusion Excellence category, while Standard Chartered Bank excelled in Digital Banking Excellence.

In the Banking Innovation Excellence arena, Post Bank’s latest Wendi Digital Wallet emerged as a frontrunner. Centenary Bank and Pride Microfinance Limited claimed top honours in Community/MFI Banking Innovation Excellence, securing the Diamond and Gold awards, respectively.

Airtel Money’s Micro Merchant earned acclaim in FinTech Innovation Excellence, while MTN MoMo triumphed in Financial Services Digital Excellence.

For Consumer Goods Digital Excellence, Movit took home the Diamond award, closely followed by Jude Color Solutions with the Gold distinction.

Utilities and Government Services Digital Excellence recognized Uganda Registration Services Bureau (URSB) with the Diamond accolade and National Water and Sewerage Corporation (NWSC) with the Gold recognition.

In the domain of Technology Services Digital Excellence, Comviva emerged as the standout performer.

Below is the full list of all winners.

Community Digital Empowerment Excellence.

  1. Digital Messaging Platform for Catholic Dioceses by Cente Tech – Diamond
  2. Oracle Academy – Gold

Financial Inclusion Excellence.

  1. MSacco by FutureLink Technologies

Digital Banking Excellence.

  1. Standard Chartered Bank

Banking Innovation Excellence.

  1. WENDI Digital Wallet by Post Bank

Community/MFI Banking Innovation Excellence.

  1. Centenary Bank – Diamond
  2. Pride Microfinance Limited – Gold

FinTech Innovation Excellence.

  1. Micro Merchant by Airtel Money.

Financial Services Digital Excellence.

  1. MTN MoMo

Consumer Goods Digital Excellence.

  1. Movit – Diamond
  2. Jude Color Solutions – Gold

Utilities and Government Services Digital Excellence.

  1. URSB – Diamond
  2. NWSC – Gold

Technology Services Digital Excellence.

  1. Comviva

Digital Campaign Excellence.

  1. #NoTuteeseOffline by SafeBoda – Diamond
  2. #KikoleForLess with FlexiPay – Gold

CEO of the Year.

  1. Fabian Kasi – Centenary Bank – Diamond
  2. Richard Yego – MTN MoMo – Gold

Digital Brand of the Year.

  1. Standard Chartered Bank – Diamond
  2. Centenary Group – Gold

Digital Brand of the Decade – 2013 to 2023.

  1. MTN Uganda & MTN MoMo

2023 Digital and Financial Inclusion Summit: Ecosystem Players Advocate for Infrastructure Enhancement for Financial Inclusion

During the 2023 Digital and Financial Inclusion Summit, industry stakeholders noted the need for improved infrastructure to improve business operations and counter the surging instances of fraud.

Held at Kampala Serena Hotel, the 2023 Digital and Financial Inclusion Summit was organized by HiPipo in partnership with Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies and generously supported by the Bill and Melinda Gates Foundation.

Sanyu Gila, who graduated from university in 2015, found herself unable to secure formal employment. This led her to explore the potential of the mobile money agent business as an alternative means of livelihood.

“Over the years, I have grown and scaled this business, but it hasn’t been without challenges. Fraud prompted the closure of some outlets I had opened. Inexperienced employees posed vulnerabilities to my business resulting in big losses. The declining telecom commissions, taxes, and network issues have also eroded customer trust in some of the products,” Gila shared.

Similar sentiments were echoed by Aturinda Tryphine and Gloria Mirembe; also, Mobile Money Agents during the summit, which focused on ensuring the safety of customers’ funds and platform security.

The summit fostered discussions essential for advancing digital and financial inclusion across Africa.

“We face capital limitations. Sometimes you forego bigger transactions because you do not have enough float. As a result, you miss out on commission as well as customers who may not come back to you,” Gloria said.

Hon. Joyce Nabbosa Ssebugwawo, the Minister of State for ICT, stressed the necessity of enhancing Fintech infrastructure to safeguard customers and agents.

“HiPipo has championed digital financial inclusion excellence. As we navigate this era, our efforts should extend beyond to empower underserved communities. FinTech has reshaped business, but the escalating cyber threats highlight the need for cybersecurity,” she remarked.

National Payment Switch taking shape.

The anticipated launch of a national switch in payment processing in the near future aims to revolutionize financial transactions, enhance liquidity management, and streamline Anti-Money Laundering and Countering the Financing of Terrorism capabilities. This initiative is forecasted to strengthen cyber surveillance while significantly reducing transaction costs for retail digital payments such as mobile money users.

Andrew Kawere, the Deputy Director of the National Payments Systems at the Bank of Uganda, said the primary objective of the national switch is to act as a catalyst for efficiency and interoperability, promoting standardized practices in financial transactions.

“We envisage the national switch being delivered as a safe and affordable public good that supports innovation. Digital transformation has been proven to have a positive impact on financial inclusion by providing an avenue for the disadvantaged to access financial services and to participate in the money economy,” he said.

The summit gathered key stakeholders driving digital and financial service adoption across Africa, including policymakers, young entrepreneurs, and innovators.

Dr. Warren Carew, Managing Director at INFTX, noted the challenges in developing an interoperability system.

“Addressing fraud in mobile money platforms requires identity infrastructure. Focusing on interoperability can reduce barriers to financial services,” Carew noted.

Innocent Kawooya, the HiPipo CEO, applauded the project’s partners for their thoughtful commitment to enhancing digital and financial inclusion across Africa.

He noted that through partnerships and deliberate support, a lot of ground has been covered with millions of end-users onboarded on to the digital and financial inclusion train in the last decade. Nonetheless, he said that much more effort is needed for complete inclusion to be achieved.

Uganda is developing a national start-ups policy.

0

In a move to make Uganda’s Start-ups profitable and attractive to investors, Business Stakeholders drawn from across the country are working against time to deliver a National Start-Up Policy for the Country in 2024.

The Policy that will address the existing constraints affecting the start-up ecosystem in Uganda is being spearheaded by Private Sector Foundation Uganda (PSFU), supported by the Mastercard Foundation and coordinated by the Ministry of Trade Industry and Cooperatives.

Speaking during a technical team roundtable meeting held in Kampala this week, Apollo Muyanja Mbazzira, the PSFU Lead Firm Structure (LFS) Project Director noted that on conclusion, the national start-up policy will streamline small and young businesses’ operations.

“Tunisia has one of the best start-ups policies and they are doing well. When you go to Cairo, a similar thing is happening and bearing results. Beyond start-up policy, can we position Uganda as a benchmark of start-ups regionally and across the continent,” Mr Muyanja said, adding;

“Uganda is a home of over 5 million refugees, showing our welcoming nature. If we can welcome businesses in the same way we welcome refugees, then we shall thrive as a country. This is our thought at PSFU and we have shared it widely. We need to position ourselves and go after the available opportunities across the continent.”

According to Keneth Twesigye, the Lead Policy at Startup Uganda, this ACT, when concluded and implemented will shield Ugandan Entrepreneurs from unfair competition.

“Several multi nationals come here and get several business facilitation privileges yet not so much is done for local start-ups. We believe that with this ACT, Ugandan start-ups will have a chance to compete favorable on the market as it will not only establish what they need but also how to get support.

Keneth Twesigye, the Lead Policy at Startup Uganda, addressing the media at Kampala Serena Hotel.

A Startup can be defined as new entity of at least 12 months old that applies innovation or technology to develop a disruptive process, product or service that is scalable or has growth potential to commercialize. In the context of Uganda, such a business must meet some of this criterion; has a temporary management structure, spends part of its budget on research and development, is Ugandan owned by majority and is locally incorporated in Uganda. ​

Well as Uganda has several start-ups employing hundreds of Youth and Women, these businesses continue to be hampered by low innovation, stagnated growth, low startup scalability, low startup sustainability, and unfair competition. It is these evils that the National Start Up Policy comes to cure.

“This is not an activity. It is a private sector initiative, we need to own it and make it work.  The start-up policy will build on all our other interventions. The Policy is urgently needed. It is extremely critical as it will help protect interests of our local businesses,” Arnold Byaruhanga, a representative of the Mastercard Foundation noted.

Relatedly, Hon. Boniface Okot, the Youth MP for Northern Uganda a few months ago presented a Start-Up ACT as a private bill in the Uganda Parliament. At that time, he noted that Start-up Act is one of the progressive legislative interventions and incentives for young people to actively participate in matters of socio-economic transformation.