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

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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.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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Facebook returns to Uganda after 4-year ban

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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.

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