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Entrepreneurship is the key to unlocking Economic Development on the continent

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Founder, The Tony Elumelu Foundation and  Chairman, UBA, Mr. Tony O. Elumelu and The President, Republic of Ghana, Dr, Nana Akufo- Addo, at the TEF Entrepreneurship Forum 2018 held in Lagos, Nigeria.

Founder, The Tony Elumelu Foundation and  Chairman, UBA, Mr. Tony O. Elumelu and The President, Republic of Ghana, Dr, Nana Akufo- Addo, at the TEF Entrepreneurship Forum 2018 held in Lagos, Nigeria.

By Our Reporter

African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem convened in Lagos, Nigeria on Thursday last week for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. The event which is the largest gathering of African entrepreneurs in the world, is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

Now in its fourth year, the Forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the programme to 4,470, with over 300,000 applications received to date. Uganda this  year had 126 successful applicants.

One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform, connecting them digitally with three vital elements for success – capital, market and business tools. Africa is riding a wave of rapid technological driven change in payment systems, education, agriculture and infrastructure and TEFConnect fulfills a critical role in linking entrepreneurs across the continent.

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as a vibrant interactive session between His Excellency, President Nana Akufo-Addo and the entrepreneurs, moderated by TEF Founder, Tony O. Elumelu. It also featured a session on the role of the private sector in the economic development of Africa with Dr. Awele Elumelu, TEF Trustee, Founder, Avon Medical and Gavi Champion for Immunisation in Africa; moderated by CNNMoney Africa Correspondent, Eleni Giokos.

Parminder Vir, CEO, Tony Elumelu Foundation also unveiled the TEF Impact Documentary, featuring success stories of the Tony Elumeluu Entrepreneurs.

Tony Elumelu reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact. ‘Africa’s future is in African hands’ he stated.

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything,” said Tony Elumelu. “With TEFConnect, we have created a tool, that provides a digital platform to host ideas, champion success and demonstrate Africans ability to use the most advanced technologies to take charge of their economic destinies.”

His Excellency, President Nana Akudo-Addo of Ghana underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

Speaking on the importance of putting the right policies in place, President Nana Akufo-Addo said: “Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue.”

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation. Over 300 budding Ugandan entrepreneurs have benefited from the programme.

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Local Business

Vivo Energy Uganda awarded for its child helmet safety campaign 

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L-R:  Vivo Energy Uganda Managing Director Gilbert Assi, Vivo Group Chairman Christian Chammas, Vivo Energy Uganda Corporate Communications Manager Valery Okecho, Communications Assistant Hilda Tushabe, Vivo Energy Namibia MD Edward Walugembe and Group Executive Vice President for East & Southern Africa, Hans Paulsen receiving the award.

L-R: Vivo Energy Uganda Managing Director Gilbert Assi, Vivo Group Chairman Christian Chammas, Vivo Energy Uganda Corporate Communications Manager Valery Okecho, Communications Assistant Hilda Tushabe, Vivo Energy Namibia MD Edward Walugembe and Group Executive Vice President for East & Southern Africa, Hans Paulsen receiving the award.

By Our Reporter

Vivo Energy Uganda, the company that distributes and markets Shell branded fuels and lubricants in Uganda, has been awarded Vivo Energy Group’s Reputation Builders Award for its behavioural change campaign titled, ‘Heads Up!’

Vivo Energy’s Reputation Builders Award is awarded to a project or team that has made a significant contribution to improving the reputation of Vivo Energy with external stakeholders.

‘Heads Up!’ was launched in 2019 with an aim of creating awareness about the probable dangers that school children using public motorcycle transportation, commonly referred to as ‘boda bodas’, face during their daily commute to and from school ; mostly without the required safety helmets.

The partnership between Vivo Energy Uganda and Safe Boda Uganda saw both companies donate child helmets to 12 public schools in high traffic areas of Kampala.

School heads distributed and managed their use among their respective pupils that use motorcycle transportation to attend school.

Announcing the award at the Group’s annual Leadership Conference, the Vivo Energy Group Head of Communications, Rob Foyle said, “The annual Vivo Awards are important as they allow us the chance to both celebrate success, and also recognise and reward some of the best work that’s completed all across our company. Congratulations to team Uganda for winning this award.”

Vivo Energy Uganda Managing Director, Gilbert Assi said, “This is a great honour for our company and for our Corporate Communications team, which is in charge of managing Vivo Energy Uganda’s reputation with all stakeholders through socially impactful community initiatives in education, environment and road safety.”

“Creating safe road users also requires that we increase public awareness about their role in enhancing their own safety. We hope that this campaign will continue to inspire the introduction and enforcement of policy to address regulation of safe transportation of children using motorcycle transportation to and from schools,’’ he added.

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Companies

MTN Uganda Rewards the First Winners of new campaign “MoMoPay Trolley Dash”

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By Reporter

MTN Uganda today started its MoMo Pay trolley dash campaign rewarding it’s first three winners each with 1 million worth of goodies at Ntinda based Fraine supermarket. The telecom giant last week announced it will reward 20 customers who are paying for their goods/services using MTN MoMoPay.

Wycliff Bamulanzeki, John Masembe, Ayiko Rogers, Sharon Tumusime, and Florence Amoit were the first winners of the new campaign however only Masembe, Tumusime, and Amoit were present today.

The trio participated in a UGX1 million trolley dash at Fraine Supermarket. Each took turn to shop their interest in a time period of 1 minute with conditions not to break anything or exceed UGX1 million.

On their thoughts of cashless payment, the trio commended MTN for introducing that ease payments. Quote, “this easy, fast and convenient.” For Mr. John Masembe he further stated that nearly 90% of his payments are through MoMoPay.

MoMoPay is a year old since its introduction in Uganda. And so far have over 80,000+ merchants from supermarkets, pharmacies, restaurants, hardware shops, fuel stations, among others registered.

MomoPay is to combat the pain experience by customers while making transactions – especially when it comes to customer’s change. Therefore, the telco through MomoPay is simplifying financial transactions by enabling people transact comfortably and conveniently using their mobile phones.

The Transaction

To be in position to use the MomoPay system, one has to be registered to MTN mobile money. Because you will have to pay for the product/service using mobile money at no extra cost. The customers sends money straight to the merchant’s code and all is done instantly.

Using Point of Sale (POS) systems

In supermarket for instance, you can use MoMoPay on POS. Using the scenario of Shoprite, from the POS machine. One selects option to pay using MomoPay. Inserts their mobile phone number, and confirm payment from the phone using mobile money pin.

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Companies

MTN Uganda launches 5G connectivity, first in East Africa and 3rd in Africa with connection

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By Reporter

MTN Uganda has today taken internet connectivity to another level. With fourth-generation (4G) technology still staggering, the leading telecom company in Uganda has introduced 5G connectivity. At an event today at the offices in Kololo, MTN Uganda demonstrated the first live demo of 5G network in Uganda in an event presided over by Prime Minister Dr. Ruhana Rugunda who represented President Yoweri Museveni fulfilling their earlier promise to commercially roll out 5G in before 2020 ends.“5G will make our life better, drive incremental capacity and open up new businesses. MTN as a company is constantly making efforts to break barriers by democratizing voice and data connectivity in order to improve subscriber experience,” said MTN Uganda’s CEO, Wim Vanhelleputte.

It is also expected that with an adequate spectrum allocated to the 5G standard, the increased capacity would result in lower data cost to Uganda.

MTN is working with South Korean firm ZTE the market leaders in 5G. ZTE is already working with operators to out 5+.

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