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Ugandan startups raised $19m in 2024, bouncing back from the lowly $4.8m that they raised in 2023 as per Africa: The Big Deal database. Africa: The Big Deal database is a database that captures African startups’ funding since 2019. For a startup to be classified as African, it must be operating in Africa with an HQ on the continent, or one with an HQ outside Africa but with African founders building for Africa. The database also captures publicly disclosed deals or those shared by investors/founders. It captures deals from $100k since 2021. The $19m raised in 2024 is way off…
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Agriculture is a cornerstone of Uganda’s economy, significantly influencing both employment and GDP. The sector employs approximately 70% of the population, with estimates suggesting that up to 72% of the workforce is engaged in agricultural activities, including farming, forestry, and fishing. This high level of employment is particularly crucial in rural areas, where about 76% of the population resides. Agriculture serves as the primary source of livelihood for many, especially for younger individuals entering the workforce, with three-quarters of those aged 15 to 24 finding their first job in this sector. In terms of economic contribution, agriculture accounts for about…
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Two Ugandan startups, Xazu Technologies and eMaisha Pay have been selected for the inaugural Amazon AWS Fintech Accelerator program. AWS (Amazon Web Services) is the cloud computing arm of technology giant, Amazon. A total of 25 startups were selected from seven African countries. Xazu Technologies is a fintech that operates the Omni Smart Card, a card that students can use to receive pocket money from their parents and also conduct cashless transactions at the school canteen. On the other hand, eMaisha Pay describes itself as Africa’s first neobank for agribusinesses and it makes it quick, convenient, and flexible for micro…
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