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Uganda Securities Exchange and MTN Mobile Money launch Digitalized SCD Account Opening

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Uganda Securities Exchange’s (USE) Securities Depository USE SCD has today launched a digital Securities Central Depository (SCD) account opening platform in partnership with MTN Mobile Money in a bid to further democratize Uganda’s stock market.

This innovation is the first of its kind in Uganda and it is envisaged to simplify the process of opening an SCD account, which is a requirement for individual investors to participate in the securities market.  

While launching the digitalised SCD account opening service in a joint press conference between USE and MTN Mobile Money at the Kampala Serena Hotel today, Paul Bwiso, the Chief Executive Officer, Uganda Securities Exchange noted that the new digital SCD account opening platform will bolster participation of the everyday Ugandan in the country’s stock market as more people will be able to open their SCD accounts remotely and subsequently be able to invest in any of the companies and debt instruments listed on the USE.

The Uganda Securities Exchange CEO, Mr. Paul Bwiso stated that since embarking on its digital transformation journey in 2015, USE had been intentional about placing the investor at the forefront of its digitization strategy. He stated that the partnership with MTN Mobile Money, has allowed the USE to further simplify access to the stock market for local investors since all MTN MoMo subscribers with a national ID can open accounts from any location.

“Last year we launched a web-based platform called the Easy portal as a self-service channel for opening an SCD account in service of our goal of facilitating convenient access to stock market services. This partnership with MTN Uganda is another stride towards achieving this goal.” Bwiso said.

Mr. Bwiso further noted that, the service still maintains the core operational processes of the SCD, that is to say; incorporating a KYC verification process and issuance of a unique SCD account number once a SCD account has been successfully opened through the MTN MoMo platform. Additionally, new investors still retain the option to select their broker of choice.

“The Exchange is committed to creating an inclusive market and working to continually improve investors experience as they undertake their investment journey at the USE” Bwiso concluded.

Mr. Stephen Mutana, the Chief Executive Office MTN Mobile Money Limited said that this innovation is another step for MTN Mobile Money to digitalize services that are crucial to growing the financial sector in Uganda, premised on MTN’s vision of delivering the benefits of a bold new digital world to all its customers.

“As a financial service provider with services that have championed digital finance, this is a great opportunity for us to digitalize this crucial function of stock investment by simplifying it for our customers. Now that it is simpler, we believe that more people will be able to open SCD accounts and participate in the stock market as an alternative avenue of long-term investment,” Mr. Mutana said.

This innovation is a valuable and convenient addition to the existing channels of SCD account opening. On the MTN MoMo platform, active MTN Mobile Money customers with a valid Ugandan National Identification card shall be able to open an SCD account through their preferred licensed broker conveniently on their mobile phone.

MTN MoMo users can access the new service through the My MTN App or by dialling *165*65# and following the prompts that will enable them to open their SCD account in minutes. The innovation resonates with USE’s mission statement of empowering investors through service excellence and innovation and the promotion of safe, convenient, and sustainable investments.

Africell Telecom to Permanently Exit Uganda

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Guru8 has received and read a communique from the Africell Group management directed to Africell UG employees revealing that the telecom company will be exiting the country after the problems it faced in the country.

According to their statement, while the company strives to be a leader in the sector, the same was not possible because Uganda has a “mature and competitive telecoms sector” and as a result, “the opportunity to achieve (the leadership impact) was increasingly limited”. As a consequence, the company has decided to take the “difficult decision to permanently end Africell UG’s operations in Uganda”.

While the communique does not specifically mention COVID – 19 as a justification, many companies have been closing shop in the country owing to the cost of operation brought about by the impact of the COVID – 19 pandemic. The telecommunications sector in Uganda has been highly dominated by MTN and Airtel networks.

As of 7th September 2021, the company will stop services including not accepting a registration of new sim cards or new customers. The communique has gone on to notify employees that the last day of their employment will be the 30th November 2021. It will stop operations on 7th October 2021.

From the statement, the company leaving in order to “focus on other opportunities for social and commercial impact” as that is the “most sustainable way (for the company) to fulfill (their) overall mission to advance the African telecoms sector”.

The company will be using the rest of the time from the 8th September 2021 to help their current customers to switch to the other available operators.

It should be noted that Africell came into Uganda in later 2014 after it acquired the Orange Uganda, and has now only been in the country for about 7 years.

The company has also released a statement on their website to that effect.

Microsoft Sets Release Date for Windows 11

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After releasing the first preview of the Windows 11 software on 28th June 2021, Microsoft has now officially set 5th October 2021 as the official release date. This is after the software has gone through and continues to go through different versions including in the Dev Channel (Versions dated 28th June 2021, 8th, 15th, 22nd and 29th July and 5th August 2021, and currently the beta Versions (dated 5th, 12th 19th and 27th August 2021, which are also further release dates for the Dev Channel) that will end with the release of the official software.

The different versions are geared towards implementing commentary from the users and critics of the testing versions of the software and to advise Microsoft on how best to improve the final product.

Windows 11 is the upcoming Windows Version from Microsoft that will be replacing the 6 year old Windows 10 (introduced on the 15th July 2015).

The new operating system (OS) has been highly anticipated by users of the Windows platform and cannot simply wait until the official release of the new OS.

The Dev Channel and the Beta Channels allow for developers or users to access the early experience with the software to be able to provide feedback to Microsoft to work towards perfecting the product for the final and official release.

Users will be able to upgrade to the new OS via free update in the Windows Update menu under the settings, if their devices meet the minimum requirements (not every gadget will be able to support Windows 11, and users have need advised to check the compatibility of their devices by installing the Windows PC Health Check) that have been set by Microsoft. While an upgrade will be possible under Windows Updates, the alternative to installing the software is by using the installation of the ISO file from distributors.

Bolt launches in Gulu with affordable rates

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Bolt is fully operational in Kampala, and now the e-hailing company has launched in Gulu city as part of moves to provide safe and affordable transport right across Uganda. Bolt is charging from UGX 2,000 for boda-boda rides and UGX 8,000 for Bolt base.

Users will be able to access Bolt’s wide range of riding categories such as Bolt Boda (one rider), Bolt Base (up to four riders), and Bolt XL, which takes up to six riders, following the launch on 27th August 27, 2021 via a virtual event.

Speaking at the event, Moses Mugerwa, the Operations Manager Bolt Uganda, said one of Bolt’s main goals apart from providing value-for-money transport services countrywide is creating employment opportunities.

“Transportation is a significant factor in everyone’s day-to-day life. With our launch in Gulu, we aim to provide safe and quality transportation that’s easily accessible to anyone who needs it. We see this move being beneficial not only to customers here in the North but also as a way to help combat the rising rates of youth unemployment in the region.”

Recently the company revamped its App to make its services more customer-centric.  As part of Bolt’s drive to boost employment in Uganda, it has also assured its partners that the company constantly evaluates its operations to offer the best earnings on its e-hailing platform.

The emergency response button (SOS button) for passengers is also integrated into the app, allowing riders to easily connect to a 24/7 response service team if they are involved in any emergency while on a Bolt ride.

Bolt began operating in Uganda in 2017. The company has continued to supplement the government’s efforts to close the employment gap and commit to their partnership with drivers in working to improve the experience for and with drivers. 

Ugandan e- Logistics platform Ridelink Raises US$150k in Pre-seed Funding

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Founded in 2017, Ridelink operates an e-logistics platform developed to connect small and medium sized enterprises to a network of transport operators at the tap of a button. The company has served more than 250 SMEs with over 2000 drivers delivering Cargo throughout EastAfrica.

Ridelink is on a mission to drive down the cost of transport for SMEs by connecting businesses to truck drivers using technology to facilitate the smooth running of business operations, increase revenue earning, improve mobility efficiency and performance. The platform services a market in the urban, peri-urban and rural Uganda, Kenya and Tanzania.

The new raise of USD150,000 was made possible with strong partnership from Ortus Africa Capital, Omidyar Network and African Leadership Academy’s Young Entrepreneurs Fund(Anzisha). This brings the total investment into Ridelink to US$250,000 with the start-up having attracted private investments in 2020 from seedstars. 

The Ridelink team

“We plan on using the capital raised to build globally competitive and robust technology and accelerate our marketing campaigns,” says the company CEO Daniel Mukisa. 

“The Young Entrepreneurs Fund is designed to incentivise co-investments into graduates of our programs like Daniel who have chosen to become career entrepreneurs. Ridelink demonstrates the ability of very young Africans to build job generative businesses and is a compelling business case for why we should all consider the opportunity to invest younger,” says Thokoza Mjo of the Anzisha Prize, who manages the fund. 

“At Ortus Africa Capital we are glad to add Ridelink to our story of creating impact through provision of much needed capital to entrepreneurs growing Africa’s economies. By co-investing alongside the Young Entrepreneurs Fund and backing African entrepreneurs with local capital, we hope this helps the entrepreneurs grow but also gives confidence to other investors in the African ecosystem to join us on this journey,” says Kenneth Legesi CEO/CIO at Ortus Africa Capital.

Here’s How Apps Improve Students’ Productivity

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Due to pandemics, schools have shut their doors to students and teachers, but that didn’t stop little ones from gaining knowledge. The idea of online study has a far-reaching effect during this time. Technology has taken a front seat, and now you will find so many interesting options to deal with. Just like the growth of online study, there is a hike in the school app for sure. No matter how old they are, schools can create their own apps using help from app development firms. 

Free apps and their importance:

Currently, the importance of such free apps for school creation is on the rise. These apps are primarily designed to make knowledge easily accessible to students located in any corner of the world. Nowadays, if you check the AppStore and the Google Market, there are several millions of uploads you are going to see. 

Check out this page to learn more about the best mobile app for the school, which lists brand-new software. There will be notifications available for instant updates, various lesson arrangements, and some other tools, which are ready to just go right into the new educational app. 

How apps help in improving student’s productivity level:

Well, you can receive an expanded toolkit with educational apps. There are some major functions available that ensure how these apps are actually helping improve students’ productivity levels.

  • The beauty of podcast player:

Now, it becomes a lot easier to get the kids acquainted with the topic through professional podcasts with some experts in the said field. You should always absorb some major importance in their simple conversations.

  • Audio player:

If you want, you can add up the audio files to let the written materials stick. It will help the kids to repeat topics when they head back home with the help of their headphones. 

  • The beauty of multi-language library:

In a learning app, students get the opportunity to choose from various book choices. You will find literature in multiple dialects and languages, which will help the foreign kids adapt to the course module more easily. In no time, these learners will fall in love with the subjects. In a physical classroom, teachers won’t give students a language choice, but with the help of this app, they can get the service.

  • PDF document attachment:

Make sure to pin up the manual to the school’s mobile application. If you want, you can upload the library of the valuable materials for that exam preparation. You can further attach some added resources for the main curious students out there. So, students do not have to be afraid of not just finding the books or forgetting them.

  • Phonecard:

It is one significant function that you will get with the education apps. It will help students to get in direct touch with the teacher when there is an emergency in the learning app.

  • Quicker access buttons:

A quicker access button will indeed help increase students’ awareness regarding the major tasks and tests to cover up first. You can try and add one link to the calendar or even the studies schedule to the controller with just a few clicks.

  • Pop-ups to follow:

It is one significant choice for creating some of the school-based applications online. Now, you get the chance to check out all the major updates in communication with the best students. You should remain notified about the completed tasks and questions. Always set up some reminders about the home tasks and some of the upcoming meetings.

Choosing the right creator for student’s apps:

The student educational apps must have some distinctions among the competitors. There are multiple subscriptions available for different budgets, along with the diversity of the learning materials and the possibility to just find interlocutors in the current app’s community. These are some of the significant features for the ultimate user interactions. So, make sure to create a checklist of these features first before you head towards the right creator for the student’s apps. 

Free app creation is always a good call to save some money. You should always look for the school app creation procedure without any code to it. A reliable app can easily work from various devices and help students to stay connected throughout. 

Online Shopping Maestro 2gule Set to Celebrate First Year Anniversary in Style

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The month of August has probably started with awesome news as online shopping masterhouse 2gule is set to celebrate one year anniversary in style.

2gule has been rocking the airwaves over the months as the only importer of authentic goods from the US, UK and Canada. Despite of the coronavirus pandemic and all the effects it has caused and left, 2gule stuck with her mandate of delivering customers merchandise at affordable prices.

Just like weeks ago when the company gave out cash prizes on Twitter during a quiz about the brand, they will be going bigger this time.

For the one week period that leads to the company’s anniversary, 2gule is offering 100K everyday to one lucky twitter winner with the most engagement after quoting their daily pinned tweet.

Here’s how to get in the draw…

Rush over to the 2gule Twitter account and start securing the bag.

“Tugabane” Will no Longer be Available on Freaky Friday, Freaky Holiday and Daily Data Bundles – Airtel Ug

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Airtel Uganda has released a statement where it has revealed that their data sharing service known as “Tugabane” will no longer be available on three (3) of its data products like “Freaky Friday”, “Freaky Holiday” and Daily data bundles.

Tugabane enabled a user with an Airtel internet package to simultaneously use his or her package with another person irrespective of the person’s location within the country, and it usually came in handy when one intended to gift another with internet.

The service will no longer be available starting 21st July 2021.

“Kindly be informed that effective Wednesday 21st July 2021, the Tugabane service will no longer be available on Freaky Friday, Freaky Holiday and Daily data bundles”, reads the statement from the management of the second largest telecommunication company in Uganda.

The rest of the packages will not be affected by the cancellation.

“Please be advised only daily, freaky Friday and freaky holiday bundles were exempted from tugabane the rest qualify”, reads a response to a querry made to the post. This implies that monthly, weekly or other similar bundles that are not captured under the selected packages will be able to use the service.

Ugandans Start Petition Calling for Transparency in Internet Data Services by Telecom Companies

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Not less than 24 hours had passed before the intended target of 100 signatures was almost achieved in a petition that was initiated by the Uganda Consortium on Corporate Accountability (UCCA).

By press time, the petition has secured 94 signatures that are jointly calling for transparency of internet data services and charges by telecommunication companies in Uganda. The companies specifically targeted or mentioned in the petition include Airtel, MTN and Africell “among others”.

In the description of the petition, UCCA references the newly passed Excise Duty (Amendment), 2021, an amendment that removed the controversial Over the Top Tax (OTT), while introducing a new 12% tax.

“Recently, the Government of Uganda introduced a new 12% tax on the price of internet data”, the petition reads, and as a result, “…many Ugandan internet consumers have noticed a spike in the rate at which their internet data bundles run out”.

While the companies are required to impose the tax in compliance with the legal obligations, the companies, for example Airtel, have released statements to show that they would only impose the tax on business packages, as they consume the burden on the rest of the packages, (except for UTL that wholly imposed the tax on all internet data purchases).

The fear of the “petitioner” and the signatories to the petition is that there are repercussions on the internet data of users from the companies that have opted to levy the tax selectively or not made any statement regarding the implementation of the tax.

“(The implementation of the tax) suggests that the telecom companies are supplying their consumers with less data volumes than they are purporting to do, in order to offset the cost of the new tax”.

The petitioner believes that the above allegations are unlawful and are an abuse of the consumer protection laws of Uganda and are using the signatures for the petition to “call(s) upon the Uganda Communications Commission”(UCC), the regulator of telecommunication companies in Uganda to “investigate the activities, services and charges of these companies with the supply of internet data volumes, and to also compel them to come out” clearly on the way they are implementing the new law.

It would also be able to enable consumers to know how the money they pay is being used, and to be able to make “well-informed decisions” on the competitive options available for data.

There is growing support for the petition with people signing the petition expressing how “It’s critical that something gets done before it runs out of hand”, as corruption has already killed Ugandans more than it has for COVID – 19, the companies just got greedier, data being abnormal since 1st Jul 2021 among other feelings.

Twitter Announces Fleets Will Be No More, More Features Coming

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The ability to share Snapchat like disappearing stories or WhatsApp like status updates on Twitter will no longer possible after 3rd August following an announcement by the micro – blogging platform to discontinue the feature from its platform.

Fleets, similar to other social media platforms like WhatApp, Instagram, LinkedIn, Snapchat and Facebook allows users to share messages, both text, pictures, gifs and videos on their profiles that would later disappear after the lapse of 24 hours.

The feature was introduced on Twitter in March 2020 later than the other platforms did, all mimicking snapchat, and a year and plus later, the company has stated that “Starting August 3, Fleets will no longer be available”.

In a thread, @TwitterSupport shared the justification for the discontinuation being that the feature did not achieve its intended objective. “We had planned for Fleets to help people feel comfortable joining the conversation in a low – pressure way”, its tweets read, and added that it has turned out that “Fleets were used mainly by those Tweeting the most”, however, it indicated that the company will be looking other ways “for people to share on Twitter”.

The company has further revealed that it would be focusing on new ways to enable people to shares, with “no plans of slowing down”.

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