Uganda: Latest News
Peter Pedroncelli, 5:51 am
Andela, a startup that trains and outsources African coders to work for global firms, has secured a Series C round of funding to continue the company’s expansion. The Lagos and Nairobi-based startup that recruits Africa’s best software developers has successfully raised $40 million in the most recent round of funding. The substantial investment was led by Pan-African venture firm CRE Venture Capital, while other investors include DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.
Kurt Davis Jr., 4:31 pm AFKI Original
Betting on oil and gas prices these days is part-art and part-fun for bankers and investors, but major oil giants Total seem to be backing East Africa. Numerous pipelines for oil and gas are under construction across the African continent, and may be something for investors to monitor closely. Gas is the third largest fuel source in the global primary energy mix and the second largest source in power generation, contributing 24 percent and 22 percent to each market respectively.
Peter Pedroncelli, 5:50 am AFKI Original
Instant messaging apps have become indispensable for most modern smartphone users, and Africa is no different, with a number of popular mobile applications being used around the continent. Engaging with friends and family has never been easier, with mobile phones equipped to facilitate messaging via these apps, making communication affordable and more accessible than ever before for African users.
Kurt Davis Jr., 5:18 pm AFKI Original
While some African supermarket chains are achieving success, Kenyan brands Nakumatt and Uchumi are struggling badly. Smaller countries, such as Mozambique and Namibia, provide bigger opportunities for expansion (and returns) compared to East African nations. One can better manage growth expectations and costs in neighboring southern African countries, including Zambia, than in the rising East African giants.
Peter Pedroncelli, 4:45 am
The new dotAfrica internet domain continues to attract interest, with thousands registrations taking place for the top-level domain. The dotAfrica top-level internet domain attracted over 8,000 registrations since its launch in July this year, displaying a popularity for the domain among businesses, organisations and individuals, with brands such as banks and media companies ensuring that they captured a domain for themselves.
Peter Pedroncelli, 6:02 am
Google’s emerging markets startup accelerator, Launchpad, has expanded to seven additional African countries from the original three eligible for the program since May of this year. This means that growth stage startups in Algeria, Egypt, Ghana, Morocco, Tanzania, Tunisia, and Uganda can now apply to be part of the accelerator program. Previously the only three African countries considered for applications were South Africa, Kenya and Nigeria.
Peter Pedroncelli, 8:25 am AFKI Original
There are a number of ways in which drone technology is positively impacting industries in Africa, with numerous sectors benefiting from the advantages that drone tech provides. Previously associated with warfare and destruction, drones of all shapes and sizes are now being developed to tackle everyday issues and empower communities across the continent. From agriculture to safety in shark-infested waters, drones have found their place in a modern African context.
Peter Pedroncelli, 1:03 pm AFKI Original
Mobile operators in sub-Saharan Africa have a unique set of challenges that they face in the region, but if they manage to overcome these obstacles, success awaits. Sub-Saharan Africa is home to many mobile operators who have dominated their markets, from Vodacom in South Africa to Safaricom in Kenya, but that dominance has not come easy. Now a fresh set of issues stand in the way of further success on the continent.
Staff, 8:09 am
Last week was a big week for Ugandan fintech startup Numida, as it was declared winner of the Kampala leg of Seedstars World, securing its place at the global final in Switzerland next year where it stands the chance of securing $500,000 in funding. The startup already secured $140,000 in funding from angel investors, and is in the process of raising a $500,000 seed round. The startup has seen 15 percent week-on-week growth since March, and has disbursed 160 small business loans to 105 clients.
Peter Pedroncelli, 5:01 am
Safaricom, the world’s biggest mobile money operator, is set to launch an e-commerce platform in October that will be focused on supporting and enabling small businesses to sell their products online. The aim of Masoko, as the e-commerce platform will be called, will be to give small and micro businesses access to markets that they would otherwise be unable to reach with their products.
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