Tech

Nigeria’s commodities exchange firm, AFEX, expands to Uganda

Published

2 years ago

January 23, 2023

A Nigerian commodities exchange firm, AFEX, has expanded its business to Uganda after establishing its presence in Kenya in June last year.

The company which leverages on commodities like farm and agricultural producers as well as farmers, according to Abdul-Hafeez Odusanya, the Managing Director, AFEX Uganda, will build on the same model it created in Nigeria and Kenya to make sure Ugandans will benefit from its tech-enabled services.

“I’m thrilled to be leading the next stage of growth for AFEX in East Africa and eager to see how Uganda’s success contributes to AFEX’s portfolio of innovative food system interventions,” Odusanya told journalists at the unveiling of the company in Kampala.

“I’m confident AFEX Uganda will contribute massively to building an inclusive and efficient market system, giving Ugandan farmers the support and infrastructure they need to improve efficiency and access bigger markets,” he added.

Odusanya said going by its estimation, in its first year of operations in Uganda, the firm aims to reach 10,000 farmers and aggregate 15,000 metric tons of commodities, while extending its aggregation, storage, and financial inclusion services to Ugandan farmers and processors.

“This is in continuing our pan-African expansion plans, which we will be implementing by scalable model that combines advanced technology and infrastructure with a unique understanding of Africa’s food systems and local markets to replicate its successes in Nigeria and Kenya to Uganda.

“By working closely with local and international partners, the operation will focus on maize, sorghum, soybeans, barley, and coffee, with maize being the initial priority,” Odusanya said.

Click to comment

Tech

Facebook returns to Uganda after 4-year ban

Published

2 days ago

December 24, 2024

Isaac Dachen

After four years of being in the cooler as a result of suspension by government, Facebook, now Meta, is making a return to Uganda after prolonged negotiations saw the Ugandan government reverse the ban it placed on the platform since 2021.

The suspension of the social media platform had stemmed from accusations by the government that Facebook was meddling in the country’s political affairs during the 2021 presidential elections which arose after it deleted government-affiliated accounts for allegedly spreading disinformation.

This ban of Facebook has led to widespread disruptions across the nation, affecting not only political discourse but also personal connections and business operations.

But according to reports, with a potential re-launch on the horizon for December 2024, Facebook’s comeback could be a game-changer with approximately 2.5 million Ugandans poised to reconnect on the platform, while the Uganda Revenue Authority stands to gain financially from its revival just as businesses, especially smaller enterprises, stand to benefit from advertising incomes.

Tech

20 African tech-preneurs embark on Korean innovation tour

Published

4 days ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.