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Premier Rugunda praises Tony Elumelu Foundation At 2019 Abuja Forum

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By Our Reporter

Uganda’s Prime Minister, Rt. Hon. Dr. Ruhakana Rugunda on Saturday spoke at this year’s Tony Elumelu Entrepreneurship Foundation (TEF) forum in Nigeria’s capital, Abuja.

Rugunda who represented the government of Uganda praised TEF for addressing the mind-set of emerging African entrepreneurs.

“This program is promoting Pan Africanism. It will help to consolidate unity of African take advantage of the Free Trade Area that has been established by our leaders on the continent. We need to give more support and mentorship to them so that they can compete without cultural and property ownership problems that are working as impediments,” Rugunda said.

He added, “And I believe that the Elumelu foundation is a good example of innovatively working out a program which suits the youth and has demonstrated success where almost 5000 young Africans have benefitted from the program. And the program has been so successful that it has attracted partners like our friends from Europe, African Development Bank and many other institutions and indeed, it has also mobilised us in government in Africa to support that program. Therefore, I salute this program because it is going to touch on mind-set change.”

TEF is the brainchild of UBA Group Chairman Mr. Tony Elumelu, with the vision of empowering 100,000 African Entrepreneurs on the African Continent through his foundation.

This year’s forum taking place at the iconic Transcorp Hilton Hotel in Abuja, held under the theme; “Empowering African Entrepreneurs,” exposes African Entrepreneurs to UBA special products and services that will support their business and personal development.

The forum, now in its fifth year featured masterclasses, a dynamic pitching competition, electrifying panel debates, and the Presidential Dialogue. It engaged an audience of 5,000 comprising of start-up entrepreneurs, development institutions and policymakers.

The two-day forum, which was launched on Friday, July 26 and ended on 27th July, brought together over African Entrepreneurs from across the African Continent on an all-expenses paid trip to sell their goods and products to over 5,000 guests at the largest gathering of African Entrepreneurs, policymakers and business leaders in one location.

On Saturday, African leaders including; Rugunda, Felix Tshisekedi, President of the Democratic Peoples Reublic of Congo (DRC), Rwanda’s Paul Kagame, Macky Sall of Senegal and Nigeria’s Muhammud Buhari spoke at the president’s forum. Dr. Akinwumi Adesina, President of AFDB was also at the forum.

On the high risks faced by young people in business, Rugunda said; “I think one of the problems is that we may be transferring models of loans that are for the well to do, imposing them on young people and they find that they cannot copy. So the problem may be more with us other than being with young people. therefore, let us be innovative, look at the young people, interact with them and see what works for them and support.”

Happening on the side-lines of the forum was the United Bank for Africa (UBA) Marketplace.

The UBA Marketplace is an online store that was made physical to pre-launch the TEF forum.

As part of the activities, the event also played host to businesses and business owners in various industries including food, fashion, beauty, home/interior and gadgets.

Through the UBA Marketplace, the foundation hopes to connect over one thousand businesses on the continent to boost intra African trade through this summit that brings together African entrepreneurs, dignitaries and business owners to share ideas on the growth of the African economy.

Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Foundation has implemented one of the most ambitious entrepreneurship programmes globally. Selected entrepreneurs from previous years have transformed their businesses and their communities after gaining from the Programme’s 7 pillars: $5,000 in seed capital; business development training; one-on-one mentoring; access to TEFConnect; Pan-African meetups; TEF network.

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Companies

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

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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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Local Business

MTN MoMoPay Customers to win free shopping worth UGX 1,000,000 in a Trolley Dash experience.

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By Staff Writer

MTN is set to reward its customers who have embraced paying for their goods and services using the Telecom giant’s mobile payment platform, MTN MoMo Pay.

MoMo Pay is an MTN service that allows customers to pay for their goods and services directly from their mobile money accounts using their mobile devices at no cost. Retailers and businesses receive the payments for the goods and services instantly.

Up to 20 customers will be selected from a draw to participate in a trolley dash where they shall be allowed to shop merchandise of up to 1 million shillings in 60 seconds. To stand a chance to enter the draw, customers are required to make 2 MoMoPay transactions each week. 

Ali Monzer the General Manager Mobile Financial Services said the promotion is MTN’s way of giving back to customers for adopting the service one year since it was launched. “The response from customers has been overwhelming. Many of the people have appreciated the convenience of having to pay for all their goods and services using MoMo Pay. Thus we felt the need to thank them by giving back to them and that’s why we launched this promotion.”

MoMo Pay is MTN’s way of creating convenience for customers and merchants alike. “The world is going cashless today. It’s now more convenient to go cashless than to carry lots of cash on you. You can literally run your life using MoMo Pay. You can pay for your meals, medication, car service, shopping and several other services using MoMo Pay,” Monzer said.

This service is available to merchants who register for the service and all MTN Mobile Money customers.

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Local Business

Harvest Money Expo 4th edition launched

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dfcu Bank in partnership with Vision Group and the Netherlands Embassy have launched this year’s edition of the Harvest Money Expo that will take place from 14 th – 16 th February, at Mandela National Stadium, Nambole.

Under the theme ‘Value Addition’, dfcu Bank and its partners seek to improve production and marketing of agricultural products to increase the commodity value in order to ensure a rise in sales, market growth and that farmers get a good price for their products.

The Harvest Money Expo initiative, now in its 4th edition, aims to highlight the contribution of agriculture to the development of the economy and also change the negative perception that most Ugandans hold towards agriculture as not being a good career option.

Speaking during the Expo launch, dfcu Bank’s CEO, Mathias Katamba, said; “The economy of Uganda can be transformed through mechanization improvement of agriculture, commercialization and taking advantage of the unique nature of our country’s weather and soils. As dfcu Bank, we would like to offer more support to the agricultural industry by giving farmers access to equipment for agricultural mechanization through our asset financing product.”

Mr. Katamba also reiterated the need to get young people involved in agriculture to grow the sector.

Last year, over 28,000 people attended the Harvest Money Expo. This year, the sponsors and organizers are aiming for a target of over 35,000 people who will include; farmers, business representatives, the general public, foreign exhibitors from various countries. The Netherlands Embassy has promised to have a ‘Netherlands Village’ at the Expo, where 48 companies including 16 top Dutch agriculture companies will showcase, share knowledge and farming experiences.

The Vision Group CEO, Robert Kabushenga said; “The Harvest Money Expo has become a calendar event for every farmer because of the benefits they get from it. It is also a social event where people come to socialize and share knowledge.”

This year’s Harvest Money Expo will also have in attendance all the past winners of the Best farmers’ competition.

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