MTN in 2024 delivered yet another solid year, cementing its place as Uganda’s most profitable and actively traded listed company. With double-digit revenue growth and record earnings, the telecom giant showcased operational strength and investor confidence. Yet, looming over this strong performance is a strategic pivot that has analysts sounding the alarm: the planned spin-off of its fintech arm—MoMo—could significantly alter the company’s growth trajectory and valuation dynamics. Fintech Fuelled, But For How Long? MTN Uganda’s total revenue surged by 18.87% to UGX 3.17 trillion ($857.49 million) in FY2024, up from UGX 2.67 trillion in FY2023. Of this, fintech services…
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Airtel Uganda, in partnership with Cisco, has today launched Network as a Service (NaaS) – a subscription-based enterprise solution that allows businesses to access scalable, secure, and fully managed network infrastructure without the need for upfront investment in hardware. The launch event, held at Kampala Serena Hotel, was attended by customers, Cisco executives, members of the media, and Airtel Uganda’s leadership team. The event showcased how the NaaS solution aligns with Airtel Uganda’s vision of enabling digital transformation for businesses across the country. Head of Solutions Architecture at Airtel Africa Group, Lameck Ochola(R), with other officials from Cisco and Absa…
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VCon Construction, a subsidiary of the Ruparelia Group, has officially handed over a newly completed Faculty of Engineering and Technology and a 500-bed student hostel to the Islamic University in…
Uganda’s economic model, widely known as “Musevenomics,” is facing a pivotal test, as stakeholders at the Musevenomics Conference 2025 called for bold reforms to address persistent gaps that threaten to…
New findings from Uganda’s Ministry of Trade, Industries and Cooperatives show that there exists a high digital divide, low technology adoption and business registration among micro,…
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By Steven Mwesige A flurry of incidents in the news of cybersecurity breaches in recent weeks are a cause for concern, but with a better understanding of cybersecurity need not be our new reality. In the old days, when transacting with your bank it was mostly face-to-face transactions. You would walk into the bank, line up to be served, meet a bank official who would help you transact whatever you wanted. That looks very crude these days where only two in ten transactions are carried out over the counter at PostBank, a statistic that is mirrored across the industry. The…
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By Brenda Mpoora Saving and Credit Cooperative Societies (SACCOs) are making a tremendous contribution in promoting a savings culture and driving financial inclusion to the last mile user in Uganda. A closer look at the 2023 FinScope report shows SACCOs had the highest growth of uptake in formal financial services from 5 percent to 14 percent. Since 2018, SACCOs grew much more in adoption against all financial services, with the proportion of Ugandans utilizing them for savings and credit more than doubling. Beyond the uptake, SACCOs have numerous needs ranging from technology, digital infrastructure, compliance and capital to scale. With…
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By Francis Lutalo The banking industry is facing unprecedented times with the need to adapt faster to emerging technology to serve the ever-changing client needs. Faced with competition from other third-party service providers and middlemen, banks are exploring how to replace the current traditional banking infrastructure with the transformative power of blockchain technology to speed up payments, remittances or even day-to-day over the counter transactions. Advanced economies such as the USA and China have already demonstrated considerable success with blockchain technology in digital currencies, payments and remittances with the global south slowly catching up. Rwanda and Ghana are prime examples…
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Last month, Dr. Chris Baryomunsi, the ICT Minister, announced an exciting and ambitious plan to set up computer labs in all public secondary schools across Uganda. This initiative, revealed during the launch of a computer lab at San Giovanni School-Makiro in Kanungu District with the support of our partners, American Tower Corporation, marks a transformative milestone in the country’s educational landscape. This effort underscores the government’s commitment to promoting digitalization through favorable policies such as Uganda’s Vision 2040 and the Digital Transformation Roadmap. The Uganda Communications Commission has already established over 1,000 computer labs in various schools nationwide over the…
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In a historic visit to Uganda, former Airtel Africa Group CEO, Segun Ogunsanya took a trip to Kitende Secondary School, Entebbe in April 2023 to experience the fast Airtel internet used by the students, which formed part of his tour activities. Mr Ongusanya retired from his Group CEO role in July, 2024, and took over another role as the Chair of the Airtel Africa Charitable Foundation to advance the social and digital agenda in key areas of financial and digital inclusion, education access, and environmental protection. Kitende S.S is one of the many schools across Uganda connected to Airtel internet…
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