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Telecom giant TowerCo of Africa secures $40m to install towers in Uganda

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Uganda’s largest telecom service provider, TowerCo of Africa, has announced raising $40 million long-term financing from European development finance partners to enable it install telecommunications towers in the country.

CEO of TowerCo of Africa Uganda, Geoffrey Donnels Oketayot, who made the announcement in a statement, said the financiers of the facility include the European Investment Bank, the Development Bank of Austria (OeEB) and Belgian Investment Company for Developing countries.

Oketayot said the new investment is aimed at significantly improving mobile phone network coverage in rural areas of Uganda, while also unlocking digital empowerment and economic advancement.

“The 10-year financing will support installation of 506 new telecom towers, strategically positioned in rural areas that currently lack mobile network access or where existing mobile networks are saturated,” he said.

The CEO added that the new telecom towers will be mainly powered by renewable energy and enable rural communities to access 4G and 5G data services, mobile money solutions, and foster financial inclusion.

“At present, only 65% of Uganda has mobile network coverage. The new investment reinforces the imperative to address coverage challenges and will play a significant role in advancing the country’s 95% coverage goal.

“The 506 new towers will be shared by multiple mobile network operators, addressing challenges that have historically hindered telecom expansion in rural areas, ensuring commercial viability for network expansion and providing more comprehensive and inclusive network access for rural communities.

“This new financing backing from European development finance partners is a testament to our shared vision of connecting communities and fostering economic growth here in the heart of Africa.

“The deployment of hundreds of new telecom towers across Uganda will make a significant leap towards ensuring that no one is left behind in the digital age,” he said.

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Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments 

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Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

 

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

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DR Congo sues tech giant Apple over illegal mineral exploitation

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The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

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