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Accessing affordable and available credit is a big obstacle to the growth of micro, small and medium-sized enterprises (MSMEs). Many of them end up relying on loan sharks that charge exorbitant interest. Nonetheless, innovators continue to address these obstacles with the help of Financial Technology. One way they are doing this is through making digital loans available, anytime anywhere. One such entity that is offering digital credit to last-mile customers is Kray Microfinance. Kray Microfinance is a digital financial services provider that started as a money-lending company and has since transitioned into digital microfinance for the unserved and underserved. “We…
Access to quality healthcare continues to be lukewarm in Uganda due to high poverty rates, limited savings, and very low insurance uptake. As a result of this, most Ugandans are always just one medical emergency and hospital admission away from financial ruin and untold disaster. But this is changeable and one way of doing it is through creating affordable healthcare insurance products. This is the gap that Peleyta seeks to address. Peleyta Health is a flexible, affordable, and convenient platform helping low-income earners prepare for and afford quality healthcare anywhere at all times through digital healthcare micro-savings and lending. To…
In discussions at the ongoing International Water Association Congress and Exhibition in Toronto, Canada, the NWSC Managing Director, Dr. Eng Silver Mugisha, emphasized the need for tailored innovations to tackle local water challenges. He warned against relying on foreign solutions that may not suit our unique needs. Dr. Mugisha highlighted the importance of partnerships, local expertise, and collaboration to drive impactful change. “We don’t lack money, but we need partners who are willing to work with us to develop solutions that meet our needs,” he stated. Under his visionary leadership, NWSC has expanded services to over 270 towns, serving 18…
Equity Bank Uganda, Nation Media Group Uganda, and partners have commenced a two-day NTV SkillsFest at Motiv Kampala, Old Portbell Road, from the 16th – 17th August 2024 under the theme ‘’Explore and Elevate’’. The NTV SkillsFest comes as Uganda and the world continue to celebrate Youth Week. The event aims to address challenges faced by the youth in the country, including unemployment and a lack of skills best fit for the current job market. The 2-day event includes interactive workshops and hands-on activities across various skills, exhibitions to showcase products, services, and innovations, a master class, learning new skills…
Centenary Bank, the largest commercial microfinance bank, recently opened a new branch in Buliisa district in western Uganda, expanding its network to 81 branches. This new branch aims to serve the broader community in Bunyoro region, which is experiencing a fast increase in economic activity stimulated by the Oil and Gas sector. Buliisa district also becomes the bank’s latest branch in Uganda with plans for more branches in other parts of the country on the horizon. Speaking about the launch, Beatrice Lugalambi, General Manager, Corporate Communications and Marketing at Centenary Bank said, the new branch aligns with the bank’s…
MTN Uganda and MTN MoMo Uganda Ltd, through the MTN Uganda Foundation, has provided essential relief items valued at UGX 100 million to support 200 families affected by the Kiteezi garbage landfill landslide in Kasangati Town Council, Wakiso District. The Foundation has partnered with the Uganda Red Cross Society and Office of the Prime Minister to distribute relief kits equipped with essential household items that include blankets, jerrycans, buckets, mosquito nets, mats, tarpaulins, nylon rope, plates, cups, serving ladles, forks, spoons, knives, washing soap, saucepans, and water purification tablets. “Our hope is that these provisions will offer some comfort and…
Airtel Mobile Commerce Uganda Limited, a provider of affordable and secure financial services in Uganda has so far awarded Ugx 100 million to Ugandans in the first phase of the ongoing nationwide Airtel Vroomula Amajja campaign, aimed at promoting cashless transactions and enhancing digital financial services. The campaign was launched recently, to reward Ugandans using Airtel Money with prizes, including; a grand prize of a new Toyota RAV4 Hybrid sports utility vehicle, motorbikes and e-money. Last week, 18 lucky Ugandans walked away with new motorbikes each while others won other prizes including; Airtel Money. Among the motorbike winners were Julius…
Over 20 women-led and women-dominated teams took part in the 2021 HiPipo Women in FinTech Hackathon. Among these teams was one named Belle Beauty. At the end of the Hackathon, this team came out with a minimum viable product (MVP) of a platform that would connect beauticians with customers. But that was just an MVP! Alice Sharon Namugerwa, the founder of Belle Beauty, knew that she had to put a team together to transform this MVP into a functional product that would contribute to Uganda’s economy through connecting beauticians to an already market. Indeed, from 2021 to December 2023, Belle…
Deputy Speaker of Parliament Thomas Tayebwa has asked the Ministry of Tourism, Wildlife and Antiquities to resolve Mount Elgon Park boundary disputes. During plenary sitting held on Wednesday, August 14 2024, Tayebwa said a conclusive report on steps taken to resolve the disputes should be shared with the House in a month. “The question is very simple, just sort out the issue of boundaries because what is happening on the Sebei side is happening on the Bugisu side. Can I request that you [Minister] develop a Cabinet paper, you take it to Cabinet, get a final guidance, and you inform…
Paying and collection of rent is a huge hustle. While most tenants are willing to pay rent, they are unable to pay it timely due to multiple financial pressures and hard economic times. Delayed rent payments in turn affect landlords as they are unable to appropriately earn from their investments. To cure this, innovators are using technology to manage rent payment and collection, making it predictable and transparent for both tenants and landlords. One solution that was developed to mitigate these challenges is RentBeta; a platform created specifically to reduce the stress and burden that comes with paying and collecting…