Dahabshiil has provided seed capital to two start-ups founded by young entrepreneurs in Uganda as part of a programme co-sponsored by the US Embassy in Kampala.

Dahabshiil, a money transfer company based in the UAE, has invested in GSM-based agriculture market solution, the Mobile Business Financial Information Tool (MoBFIT) which allows farmers to pre-sell their produce to buyers before harvest. MoBFIT is agricultural supply chain management software that will directly connect rural farmers to buyers in the market at a low cost via SMS technology aimed at broadening the market for grass root farmers, reduce the cost of marketing farm produce and the dependence on middlemen.

MoBFIT was the winner of the hackathon during which six teams competed in an intense race-against-the-clock to develop business propositions to meet key market needs and create jobs.

Dahabshiil is also investing in the hackathon’s second placed initiative, Yaka Ko, an emergency power credit service to help clients enjoy uninterrupted power usage. In addition, local startup incubator GoBigHub offered free mentoring to all of the hackathon participants through its partners Bytelex, Azems Value Add, and Strategy Consults.

“Both MoBFIT and Yaka Ko, alongside many of the other business ideas presented at the hackathon, are an incredible demonstration of the power of young people to drive social and economic change,” Dahabshiil CEO, Abdirashid Duale said.

“We hope that this event is seen as an illustration of what can be achieved through coordinated partnerships between the public and private sector. Dahabshiil is very proud to have collaborated with the US Government as part of +256 Rising, in the run up to the next Global Entrepreneurship Summit in Silicon Valley later this year,” said Duale.

US Embassy Chargé Trish Mahoney, said that the hackathon should help improve Ugandan entrepreneurship and promote sustainability in new business.

“Entrepreneurship brings down barriers between communities and cultures, and builds bridges that help us take on common challenges together,” she said.

Quintan Wiktorowicz, Managing Partner of social impact organisation, Affinis Labs, which planned the hackathon, said, “The level of entrepreneurial talent in Uganda is amazing, and we are hopeful that many of the teams from +256 Rising will go on to form successful businesses and help strengthen the Ugandan economy.”

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International mobile banking firm WorldRemit and MTN Group have announced their partnership of Mobile Financial Services, with customers in Uganda, Rwanda and Zambia now being able to send money instantly to MTN Mobile Money wallets.

“This partnership makes sense for both companies, as WorldRemit and MTN share a disruptive approach to innovation and bring impactful services to our customers,” Serigne Dioum, the MTN Group Head, said adding: “we are now providing an instant, fully digital and very affordable solution to send international remittance to Rwanda, Uganda and Zambia. Other countries will follow.”

The launch follows the signing of a global partnership to enable WorldRemit customers all over the world to send international remittances to MTN’s Mobile Money customers.

Alix Murphy, the Senior Mobile Analyst at WorldRemit said: “At WorldRemit, we are pioneering international mobile-to-mobile remittances. Our partnership with MTN allows our customers around the world to send money instantly from the WorldRemit app to MTN Mobile Money users in Rwanda, Uganda and Zambia. Together with MTN, we make sending money home as easy as sending an instant message.”

MTN Mobile Money enables users to perform utility payments, save money, purchase airtime and access a range of mobile financial products. To date, MTN Mobile Money is used by customers in 15 countries across Africa.

Murphy said: “For diaspora members sending money to friends and family back home in these countries, Mobile Money is a real game-changer. In Uganda, Mobile Money has already overtaken cash pick-up and bank deposits as the preferred method to receive money.

“We expect this trend to continue as MTN’s Mobile Money services reach millions of people without bank accounts, giving them access to a variety of life-enhancing financial services.”

People in more than 52 countries already use the WorldRemit app to send around 400,000 money transfers every month to over 125 destinations.  The remittance corridor between Kenya and Rwanda is the latest addition to MTN’s Mobile Money bouquet of services.

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Airtel Money users have a new reason to be optimistic in 2016 following the launch of a new and exciting rewards campaign.

Dubbed ‘Yoola Ammajja’, the 90-day campaign will benefit Airtel Money subscribers, giving them a chance to win up to 2,000,000 shillings daily when they carry out any transaction using the Airtel Money platform.

As part of this campaign, there will also be a grand draw where lucky Airtel Money subscribers will stand a chance to win up to 20,000,000 shillings.

There have been tremendous efforts made to boost the functionality and efficiency of the Airtel Money platform and to boost financial inclusion, the platform now offers services such as E-city payments, mobile banking, utility bill payments and school fees payments among others.

Speaking at the official launch of the campaign, Airtel Money Director Mr. Paul Langlois said: “Over the next 90 days, Airtel Uganda will be giving its Airtel Money subscribers the best value back seeing as they will be rewarded for each transaction.” He added that Airtel has run very many successful campaigns in the past and “therefore this is just an extension to an already existing history of the brand and its promise to continually reward customers.”

Different from most campaigns which focus on Kampala district, the ‘Yoola Amajja’ campaign is going to give Ugandans in 24 regions of the country an opportunity to win money through regional activations that will be carried out throughout the course of the 3-month period.

To qualify for the monetary rewards, beneficiaries will have to transact through a mobile banking transaction involving money sent from one’s Airtel Money account to their bank account; topped up a minimum of 500 worth of airtime through Airtel money; purchased a voice bundle through Airtel Money; made a cash withdrawal from Airtel Money; purchased a data bundle through Airtel Money; sent money to another person using Airtel Money and, paid bills using Airtel Money.

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