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Innovex Uganda lands UK AID deal; Nala hiring for Uganda; MTN Rwanda to pay subscribers and more

Innovex Uganda
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Good evening, Briefing reader! Here is a rundown of the latest developments in the tech and startup ecosystem in Africa

Carrefour to launch two outlets in Kampala

Carrefour, a French multinational retailer, which was to open its first outlet in Kampala in the first quarter of this year, will soon commission the unit anytime this year, though it will be coming later than anticipated.

According to MEP Middle East, Carrefour will open two units, one at Oasis Mall and the other at Metroplex early 2020. With operations in more than thirty countries in Europe, America, Asia, and Africa, the retailer also recently partnered with Jumia to boost its operations in Africa.

Over 300 employees are expected to be recruited, according to MEP whose report you can fully read here.

Ugandan fintechs named in Inclusive Fintech 50

Two Ugandan fintechs Numida and Awamo have won the Inclusive Fintech 50, a competition which is organized globally to elevate early-stage fintechs driving financial inclusion.

MetLife Foundation and Visa worked with Accion, a global non-profit and IFC to organize the competition, whose aim is to help early-stage fintech companies attract capital and resources.

Read the full report here

Innovex Uganda to get support from UK AID

Innovex Uganda Limited is among nine firms that will share £1.05 million from Efficiency for Access, a project fund by UK aid. Efficiency for Access supports organisations conducting innovative research on highly efficient appliances which can reach populations in developing countries not served by the national grid.

In 2018, using its technology dubbed Remot, Innovex Uganda won US dollars 10,000 (about Shs37.3 million) in the 2018 Cisco Global Problem Solver Challenge.

Remot makes energy accessible to low-income earners and rural communities by providing Pay-As-You-Go options and remote monitoring services to solar contractors.

Remot is a smart off-grid information system that aims at monitoring and controlling solar panels.

MTN Rwanda to pay subscribers

MTN Rwanda has introduced a new product called ‘Mobile Money Cashback’ through which it will be sharing its interest from the financial service with its 2.7 million Mobile Money customers. This will start with the first quarter (January to March) of 2019, according to the New Times.

Payment of interest is in accordance with the e-money regulations set by the Central Bank to give Mobile Money customers’ interest earned on MTN’s escrow accounts, the government-owned publication reports.

This interest is calculated on an average monthly basis on the subscriber’s wallet closing balances and awarded on a quarterly basis to all MTN Mobile Money users who actively use the service to make payments, send and receive money, among others.

Read the full report here

Nala to launch in Uganda

Tanzania-based payment service Nala is hiring ahead of its launch in Uganda. The position that is open to applicants its that of Product Lead.

The fintech which allows free offline mobile payments will make Uganda its second country of operation.

Apply to pitch at Africa Blockchain conference

Press release: The Blockchain Association of Uganda and Crypto Savannah, in partnership with The Innovation Village are seeking for innovators with a passion for developing sustainable digital solutions leveraging technologies in Blockchain, Big Data Analytics, Artificial Intelligence (A.I), Robotics and Drones to solve pressing challenges across their communities and priority sectors such as Agriculture, Healthcare, Education and Finance.

The Innovation Village is Uganda’s launchpad for Innovators and entrepreneurs that focuses on building an environment for entrepreneurs and innovators to become business solutions providers for our biggest challenges or opportunities. It seeks to help entrepreneurs launch and grow high-impact ventures, attract regional and global opportunities.

Their overall goal is to create a destination that grows companies that matter (Startups, SMEs and Purpose-Driven Enterprises) and are centered around solving our biggest industry and community challenges. Collectively, it is a convergence of Network, Talent, Capital and Physical Assets leading Uganda and the region into the 4th Industrial Revolution.

Why you should participate

– The finalists will have the opportunity to do a crash course on business modeling and soft skills for business with The Innovation Village.

– Receive seed funding to support them in further developing their solutions

– Receive international visibility including connection to potential VCs from Silicon Valley

How to participate

Please submit your application and upload your presentation slides including your business model (max 10 slides) here.

Apply here before 5:00pm EAT on Monday 24th June 2019.

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