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African leaders challenged to prioritise future of the continent

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UBA Group Chairman and Founder Tony Elumelu delivers key note  address on The Leadership Needed to Catalyse Africa’s Transformation at the 2019 Africa Now Summit.

UBA Group Chairman and Founder Tony Elumelu delivers key note address on The Leadership Needed to Catalyse Africa’s Transformation at the 2019 Africa Now Summit.

By Our Reporter

At the inaugural Africa Now Conference held in Kampala, Tony Elumelu, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and the United Bank for Africa, challenged African leaders to prioritise the future of the African continent.

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Giving the keynote address, entitled “The Leadership Needed to Catalyse Africa’s Transformation”, to an audience of public and private sector leaders on Tuesday, March 12 and introduced as Africa’s leading proponent of entrepreneurship, Elumelu offered a robust and direct message to African leaders from the public and private sectors.

“The leaders we need in Africa today, are leaders who genuinely care about humanity. We need leaders who are driven by an ambition to leave society better than they met it. We need leaders who understand and care about creating a positive legacy. We need leaders who are genuinely committed and care about the future of Africa,” Elumelu said.

Hosted by the President of Uganda, HE Yoweri Kaguta Museveni, the Africa Now Conference, an initiative of the Africa Strategic Leadership Centre, gathered Heads of State, public and private sector leaders to discuss and develop growth opportunities for the continent.

In his speech, President Museveni outlined key enablers required to empower the African people and transform the continent. “With independence, although a lot of time was lost with military governments engaged in primitive fascism, nevertheless, many African governments have correctly identified two crucial stimuli that can catalyse social transformation. These are education and health for all (human resource development) and private sector-led growth”.

Commending President Museveni on the achievements of his country, Elumelu also emphasised the need for public-private sector collaboration to drive sustainable development, encapsulated in his economic philosophy, Africapitalism.

“Leadership should not be about directing blame, leadership is not about absolving responsibility. Leadership is the catalyst for positive change. We need to take collective responsibility for our own future – as I have often said, no one is going to do it but ourselves – whether we are in the public or private sectors. This is the philosophy of Africapitalism, which is a call on the private sector to play its role, the leading role in securing our continent’s destiny – and achieving it by creating both social and economic wealth.”

“We have a role to play and we need to play this role by investing and managing, so we can create employment, create prosperity in a manner that will help to address many of the problems we have in the society today,” he added.

Speaking on the concept of shared prosperity, Elumelu stated that the Tony Elumelu Foundation’s Entrepreneurship Programme was a robust mechanism to empower Africa’s entrepreneurs, with the goal of delivering efficiently and effectively wealth creation directly into local communities. Reiterating the importance of entrepreneurship in unleashing the continent’s true potential, Elumelu concluded by making a call to partners, charging private sector leaders to focus on inclusive wealth.

“As private sector leaders, we realise that, if the wealth we have is not inclusive, if the prosperity we have is just for family and self, it will not help us create the society we need,” he concluded.

The Tony Elumelu foundation has funded over 300 entrepreneurs in Ugandans since inception. The entrepreneurs each received USD 5000 as seed capital for their businesses and continue to be supported by United Bank for Africa(UBA). UBA offers banking service across Uganda though diverse channels including ATMs, point of sale machines, Mobile banking, internet banking and agent banking.

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Fanfare in Masaka as MTN launches “MoMo Nyabo” promo

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Bebe Cool entertains revelers in Masaka. Bebe Cool entertains revelers in Masaka.

Bebe Cool entertains revelers in Masaka.

By Our Reporter

Business was brought to a standstill in Masaka town on Friday afternoon as MTN Uganda launched the second edition of the “MoMo Nyabo” campaign which is aimed at encouraging customers to transact using Mobile Money.

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The campaign which was officially launched during a press briefing held at Brovad Hotel was marked by a flurry of fanfare, much to the excitement of the town dwellers.

The launch was followed by a procession around the town displaying the brand new Toyota Wish cars and motorbikes that will be given away during the campaign.

It culminated in a mega concert which was hosted at the Masaka Recreation grounds. Revelers were entertained by Uganda’s top artistes including Jose Chameleone and Bebe Cool among others.

During the concert, the first winners in this year’s MoMo Nyabo campaign were also announced. Kigundu Rashid and Steven Nanziga emerged the lucky winners and each walked away with a motorcycle.

Hundreds turned for the concert at the Masaka Recreation grounds.

Hundreds turned for the concert at the Masaka Recreation grounds.

Meanwhile, prizes worth Ugx 1.5billion will be won by lucky customers in the eight week campaign.The prizes include 24 cars, 32 Boda bodas, 160 smartphones as well as mobile money.

The MoMo Nyabo promotion is part of a series of offers the telecom company has launched in recent times to reward customers including bonus on data bundle purchase via MTN Mobile Money and a few days ago, MTN slashed mobile money sending rates by more than half.

“This will be a double win for our customers. First of all, they will be sending money at half price. While doing that, they will be entered into a draw to win one of those exciting prizes. So in a way, all our customers will be winners”. Samuel Gitta, MTN Uganda’s Ag. GM Risk & Compliance said.

“We are continually evolving to make our customers’ lives better. We value and appreciate our customers and all that we are doing is just to give back to them for continuing to support us,” he added.

For customers to stand a chance to win one of the prizes, all they have to do is dial *165*1#. Customers will then automatically enter into a draw to win the exciting prizes.

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Vivo Energy in joint venture with Kuku Foods to accelerate roll-out of KFC restaurants

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By Our Reporter

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Vivo Energy plc (Vivo Energy), the pan-African retailer and distributor of Shell and Engen-branded fuels and lubricants, has agreed to form a non-fuel joint venture to accelerate the roll-out of KFC restaurants in Kenya, Uganda and Rwanda. The 50:50 joint venture will manage and operate the restaurants in the three markets on behalf of Kuku Foods East Africa Holdings (Kuku Foods), who will remain the local KFC franchisee. Completion of this transaction is subject to standard legal agreements and regulatory and competition authority approval.

The restaurants, 22 in Kenya and 8 in Uganda, are located in shopping malls, city centre locations, and service stations. Kuku Foods plans to open its first KFC restaurant in Rwanda in 2019.

The 5 KFC restaurants operated by Kuku Foods Tanzania, the KFC franchisee in Tanzania, will not form part of the transaction.

The joint venture will enable a significant increase in the number of KFC restaurants in the portfolio in the coming years. It is envisaged that many of the new restaurants will be opened at Vivo Energy’s network of service stations across Kenya, Uganda and Rwanda, which leverages Vivo Energy’s retail footprint, with more countries to be considered in the future, based on market opportunities.

Commenting on the transaction, Christian Chammas, CEO of Vivo Energy, said: “We are delighted to be partnering with Kuku Foods to replicate the KFC joint venture model we pioneered in Botswana and Côte d’Ivoire. Kuku Foods shares our ambition to invest in order to grow the number of restaurants and give more African customers access to the internationally renowned KFC brand. This partnership further demonstrates our ambition to continue to offer more convenience to satisfy the evolving needs of our growing number of African customers.”

Derrick Van Houten, Group CEO of Kuku Foods and Principal Operator of the KFC franchises, added: “Having launched our first KFC in East Africa in 2011, we have successfully grown the business over the last eight years. We are delighted to announce this new partnership with Vivo Energy to continue this growth, bringing our world-renowned KFC products and experience to as many customers as possible.”

KFC Africa’s General Manager, Tarun Lal concluded: “We are delighted that KFC can leverage the joint venture entered into between Vivo Energy and Kuku Foods to continue to grow its network of KFC restaurants in Africa. We are confident that the KFC franchisee will continue to provide customers with a great KFC experience, driving improvements in customer
service and quality through its relationship with Vivo Energy.”

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Rising Woman initiative returns for second edition

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By Our Reporter

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Monitor Publications Limited’s (MPL) flagship brand Daily Monitor in partnership with dfcu Bank’s Women in Business Program and Uganda Investment Authority(UIA) have launched the second edition of the Rising Woman initiative.

The Rising Woman initiative which was started last year under the theme ‘Taking your business ahead’ is meant to recognize, celebrate and promote a culture of mentorship among women in business in Uganda and targets Ugandan business women, Small scale investors, Entrepreneurs, Members of Uganda Women Entrepreneurs Association Limited (UWEAL), Members of Uganda Small Scale Industries Association (USSIA) and Uganda Manufacturers Association (UMA) members.

Speaking at the launch, dfcu Chief Executive Officer Mathias Katamba called the initiative a “…fundamental step on the path to creating a financially-enabling environment for female entrepreneurs.”

He went on to note that the bank has created programs and products which specifically address the financial needs of women across the country. “As a financial institution that believes in building thriving communities, dfcu embarked on a journey to creating an enabling environment for Small and Medium Women owned Enterprises starting in 2007, with the introduction of the Women in Business program. Our primary motivation is the fact that despite women making up over 52% of the population of Uganda, it is not reflected in the ratio of women who have access to financial services.”

“Through the program, we work with women in diverse ventures to turn business ideas into realities which in turn become vehicles for change in communities. With over 53 years of lending to SMEs, and at least 10 years running the WiB program, dfcu Bank understands the financial needs of women and goes ahead to provide tailor-made solutions for them,” Katamba added.

He also officially announced the call for business proposals through the bank’s official website which will begin the contention for the top 10 business ideas.

The proposal submission is already underway and will run up to 20th September 2019. The top 3 winners will walk away with Ugx 15 million, Ugx 10 million and Ugx 5 million respectively and the top 10 will take part in an all-expense study tour trip to Nairobi.

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