Tech

Mastercard partners Uganda’s ICT Ministry to drive digital transformation

Published

9 months ago

March 5, 2024

Global payments network processor, Mastercard, has signed a Memorandum of Understanding (MoU) with the Ugandan Ministry of ICT and National Guidance which seeks to accelerate digital transformation across the country.

According to Victor Ndlovu, Director and Business Development Lead for East Africa at Mastercard, the collaboration marks a significant milestone in the implementation of the ‘Digital Uganda Vision’, aimed at driving socio-economic development, enhancing services, and driving financial inclusion.

The partnership with Mastercard will provide technical assistance and expertise to support the Ugandan Government’s digitization and financial inclusion efforts, including the digitization of traditional services such as Posta Uganda, to capture new revenue flows and deliver integrated and convenient experiences for customers.

The signing of the MoU took place at the offices of the Ministry of ICT in Kampala, led by Hon. Dr. Chris Baryomunsi, Minister of ICT and National Guidance in Uganda, and Ndlovu, and is aligned with Uganda’s digital transformation goals laid out in their Digital Uganda Vision.

“This vision will empower Ugandan citizens striving to achieve the goals of universal inclusion, sustainable development, economic progress, and poverty eradication through digital innovation combining initiatives across multiple sectors,” Baryomunsi after the signing ceremony.

Ndlovu who spoke to journalists after the event, said the “vision aligns with Mastercard’s goal of enhancing financial inclusion by bringing one billion unbanked and underserved individuals into the digital economy by 2025, including empowering 50 million micro- and small merchants and supporting 25 million women-owned or led businesses.”

“One of the key focal areas of this partnership is to modernize Uganda’s digital payments ecosystem, making it more inclusive and accessible to micro and small merchants.

“These merchants will now have the tools they need to connect with the global digital economy and accept payments electronically, broadening their market reach and enhancing their contribution to Uganda’s economic growth.

“The initiative will also explore digital payment solutions as a gateway to support e-commerce platforms and e-government initiatives, therefore facilitating both domestic and cross-border transactions,” he said.

Related Topics:Featured MasterCard Ministry of ICT Uganda

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Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

22 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.