Opening a restaurant is a dream that many people share, but only a few are able to turn it into a successful reality. The restaurant industry is known for being...
Not every entrepreneur faces the same barriers. While some struggle to access financing, others—like Ian Clarke—have found ways to navigate the system and unlock new opportunities. After stepping away from...
For three decades, the mobile phone has been an evolving cornerstone of Uganda’s landscape, consistently defying obsolescence. Far from being a mere communication device, it has seamlessly integrated into the…
Diana Nabukenya Adeyemi, Co-founder and CEO of Richland Foods Ltd, is the trailblazing entrepreneur behind the Yo ‘Nyama brand — a fast-growing network of halal butchery kitchens in Uganda. Her...
When Abraham Banaddawa was studying medicine in the USA, he realised he wasn’t going to change much in the world. This realisation made him change courses to Business Administration where he would impact the world as an entrepreneur. After graduating from Florida Southern College, he returned to Uganda and worked as a consultant in finance and wealth management while he figured out his next steps. It was during this period, four years ago, that he started building what would become his wealth management startup Level Africa. “I wanted to open my investment account, and it was very difficult. “Abraham tells…
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Uganda has been a hotbed for cryptocurrency scams, largely due to the legal ambiguity surrounding the use of digital currencies. The country has had its fair share of crypto scams, with numerous individuals falling prey to fraudulent schemes. This has been largely caused by the lack of clear regulations and guidelines on the use of cryptocurrencies, creating a fertile ground for unscrupulous individuals to exploit unsuspecting investors. According to a report by the Blockchain Association of Uganda, the country has seen a significant increase in crypto scams in recent years. The report revealed that in 2019 alone, Ugandans lost over…
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Asaak, a trailblazing fintech firm from Uganda, has reached a significant milestone with its acquisition of FlexClub Mexico, extending its operations across two continents. Details of the transaction were not revealed but the acquisition was confirmed by both parties. This strategic move signifies Asaak’s entry into the Latin American market and underscores its dedication to revolutionizing financial solutions for mobility workers globally. Having achieved profitability in Uganda, Asaak’s acquisition of FlexClub Mexico represents a strategic long-term investment, marking a significant stride in promoting affordable financing across emerging markets. This deal enables Asaak to expand its innovative credit ecosystem, joining forces…
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In the world of tech startups, the TechCrunch Startup Battlefield 200 is a prestigious platform that offers a golden opportunity for early-stage companies to showcase their innovative solutions. This year, two Ugandan startups, KSOC and Kyuka Ventures, have been selected to compete in this esteemed event, joining a cohort of 16 African startups that have been handpicked from a pool of thousands of applications. KSOC, an event-driven SaaS platform, is designed to remediate Kubernetes security risks and enforce least-privileged access control. Founded in 2021 by Story Tweedie-Yates, KSOC is a testament to the growing importance of cybersecurity in the digital…
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In a dramatic turn of events, Chipper Cash, a leading fintech startup in Africa, has seen its valuation plummet by over 70%, from a staggering $2.2 billion to a mere $500 million according to Forbes. This drastic drop in valuation is largely attributed to the failed acquisition talks with Zepz (formerly WorldRemit Group), a UK-based international money-transfer firm. The proposed deal, which would have valued Chipper between $250 million and $500 million, fell through due to complications in sharing financial data. This significant decrease in valuation has led to Chipper losing its status as an African tech unicorn. Over the…
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In the e-commerce sector, the ability to improve operational efficiency and achieve profitability is the pulse that beats within every organization’s heart. But for most e-commerce startups, including Jumia, it has been a journey marked with highs and lows. However, their Q2 financial report for 2023 reveals an encouraging step towards sustainability as they witnessed a noteworthy decline in losses. The recently published financial data shows Jumia posting an operating loss of $23.3 million for Q2 2023, marking the lowest in four years. The catalyst behind this improved financial health was a significant cutback in sales and advertising expenses. While…
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Tugende, Uganda’s pioneering boda boda financing startup, has found itself in a precarious situation with its investor, Goldfinch. The startup, which holds the distinction of being Uganda’s most funded startup according to Digest Africa, has come under scrutiny for a financial transaction that appears to violate its loan agreement. The issue at hand involves a $1.9 million loan that was extended from Tugende Kenya to its Ugandan counterpart. This transaction, while seemingly innocuous, contravenes the stipulations of the loan agreement that Tugende has with Goldfinch. The startup operates through three entities: Tugende Global, their Mauritius-based holding company; Tugende Uganda, their…
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Ever since she was a child, Natasha has been doing art. Her interest truly blossomed while at Makerere University where she was pursuing, ironically, a Bachelor of Commerce. But she spent most of her time perfecting her painting skills. After campus, she swapped the artboard for another hobby of hers. “I got into interior designing, after doing a diploma in that field.” However, art came back calling. Around 2020, she discovered a new phenomenon that was sweeping across the world. It was digital art. She hang up her interior designing boots and immersed herself fully into digital art using Khashushu,…
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A startup, in its broadest sense, is a young, ambitious company that is in the initial stages of its business operations. These companies are typically driven by a unique business idea or a novel product or service, which they believe has the potential to disrupt the market. Startups are characterised by their innovative approach, high growth potential, and scalable business model that can rapidly expand to meet the increasing market demand. One of the most critical aspects of a startup’s journey is raising capital. This is primarily because startups, in their early stages, often operate at a loss due to…
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A pitch deck, in its most basic definition, is a brief presentation that provides investors with an overview of your business. It is often created using PowerPoint, Keynote, or Prezi and is typically used during face-to-face or online meetings with potential investors, customers, partners, and co-founders. However, the definition of a pitch deck extends beyond this simple explanation. It is a tool that communicates your business model, your vision, your team, and your strategies to potential stakeholders. It is a narrative that tells the story of your company, its journey, and its future prospects. A pitch deck is a critical…
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