Logistics News – Procuremate Magazine https://procurement.co.ug Procurement & Supply chain Management News Magazine Fri, 28 Mar 2025 07:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.8 https://procurement.co.ug/wp-content/uploads/2025/03/cropped-Facebook-profile-pic2-scaled-1-32x32.jpg Logistics News – Procuremate Magazine https://procurement.co.ug 32 32 Nile Breweries achieves 40% reduction in water usage at Mbarara plant on recycling https://procurement.co.ug/nile-breweries-achieves-40pc-reduction-in-water-usage-at-mbarara-plant-on-recycling/ https://procurement.co.ug/nile-breweries-achieves-40pc-reduction-in-water-usage-at-mbarara-plant-on-recycling/#comments Fri, 28 Mar 2025 07:00:59 +0000 https://procurement.co.ug/?p=4612 Uganda | Nile Breweries Limited –

Beer maker AB InBev’s Ugandan unit, Nile Breweries Limited (NBL), has through recycling and efficiency measures, slashed water consumption at its Mbarara brewery by 40pc relative to 2013, when it was commissioned.

Speaking during World Water Day commemoration in Mbarara, George Odong, Brewing Manager, at the Mbarara plant, attributed the significant reduction in water usage to the introduction of innovative solutions to optimize water consumption in its operations at the plant over the years.

“Water is not only essential to our brewing process but also to the communities we serve. That’s why we are committed to using this vital resource responsibly,” Odong said adding: “At NBL, we take a holistic approach to water risk management and are committed to environmental stewardship while maintaining production excellence.

According to Odong, the brewery has invested in technologically advanced water treatment and recycling systems that purify and recycle water within the production processes and has incorporated high-efficiency cooling systems and automated processes that optimize water use and reduce wastage ion the production processes.

“Our goal is to continually reduce our water footprint while meeting our operational needs and upholding our commitment to sustainable water use.

“We have invested in water treatment technologies at the plant that ensure all water used in the brewing process is thoroughly treated before being discharged back into natural waterways. Treated wastewater flowing out of the facility is repurposed for non-production activities like floor cleaning and gardening, further minimizing waste,” he explained.

The Mbarara brewery relies on River Rwizi as its primary water source. To enhance water availability and quality, the brewery has contributed to restoring the river and addressing water security challenges within its catchment area. These efforts have been supported by collaborative partnerships with the World Wide Fund Uganda, the Ministry of Water and Environment, local governments, and communities.

To commemorate World Water Day under the theme “Cheers to Nature,” NBL and its partners planted yet more bamboo trees along River Rwizi banks to protect the ecosystem. “By planting the bamboo trees we aim to strengthen the riverbank, prevent soil erosion, and enhance the river’s natural filtration system, contributing to improved water quality and ecosystem health” said Clare Asiimwe, the Corporate Affairs Manager at NBL.  

So far, 270 hectares of the river have been mapped and demarcated, with over 25 hectares restored along a 27 km stretch.  “We understand the interconnectedness of our operations and the health of River Rwizi. We are actively collaborating with local partners to address water security challenges within the river’s catchment area.

“We have created alternative livelihood opportunities for the local communities, reducing their dependency on the river’s immediate resources,” Ms Asiimwe explained.

Approximately 1,000 households have been mobilized to adopt sustainable land management practices. Additionally, nine rain harvesting systems have been installed, and 13 are under construction to provide drinking water to hundreds of households with the Rwizi catchment.

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Uganda Minister Beatrice Akello visits Nairobi, Naivasha inland container depots & Mombasa Port https://procurement.co.ug/uganda-minister-beatrice-akello-visits-nairobi-naivasha-inland-container-depots-mombasa-port/ https://procurement.co.ug/uganda-minister-beatrice-akello-visits-nairobi-naivasha-inland-container-depots-mombasa-port/#respond Mon, 26 Aug 2024 16:31:51 +0000 https://procurement.co.ug/?p=3475 The state minister for economic monitoring Beatrice Akello  has applauded the operationalization of both the Nairobi and Naivasha ICDs, which have greatly boosted transit trade along the Northern Corridor due to improved efficiency in cargo handling.

Speaking during the tour of the facilities, the minister attributed the growth of Uganda’s export and import volumes to the seamless clearing process at both ICDs, which has allowed traders to pay less in demurrage charges.

The minister also held discussions with officials from the Uganda Revenue Authority (URA), Kenya Revenue Authority (KRA), and Kenya Railways stationed at the facilities.

 

Minister Akello is leading a delegation on a mission to assess the multimodal transport infrastructure along the Northern Corridor, aimed at improving regional trade and transport efficiency.

She appreciated the cordial working relations among the agencies in streamlining cargo evacuation processes.

KPA has attractive incentives targeting transit customers utilizing the Naivasha and Nairobi depots, making them competitive in the region by extending special tariffs for importers.

Transit import containers going through the Naivasha ICDs have up to 30 days of free storage before they start accruing charges.

The delegation was received by Manager ICD, Mr. Paul Bor who noted that Uganda is the biggest transit market for Kenya, accounting for over 60 percent of transit cargo saying KPA will ensure the port, along with other inland waterways, are competitive in the region.

 Mombasa port

The minister also visited the Port of Mombasa in a tour aimed at assessing the multimodal transport infrastructure along the Northern Corridor for improved regional transport.

Akello  commended Kenya Ports Authority for the infrastructural development projects, which have contributed to faster cargo handling and improved efficiency at the port.

Managing Director Captain William Ruto who received the delegation also highlighted the positive impact of the Northern Transit and Transport Coordination Authority (NTTCA), noting how its implementation has significantly streamlined operations and fostered a collaborative spirit among member states.

Captain Ruto further stated that the removal of non-tariff barriers along the corridor have resulted in the growth in transit traffic among northern corridor member states.

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Turkish Company Begins Major Railway Construction in Uganda https://procurement.co.ug/turkish-company-begins-major-railway-construction-in-uganda/ https://procurement.co.ug/turkish-company-begins-major-railway-construction-in-uganda/#respond Wed, 07 Aug 2024 13:28:37 +0000 https://procurement.co.ug/?p=3669 Yapı Merkezi, a Turkish business, has begun building on Uganda’s highly awaited Standard Gauge Railway. This announcement was delivered by Godfrey Kabyanga, Minister of State for Information and National Guidance.

The Standard Gauge Railway project was first launched in 2013. According to Kabyanga, efforts are being made to address and compensate those who would be harmed by the construction.

The Ugandan government prioritized security and transportation in its 2023/2024 budget. As part of this project, the government has bought a 161-kilometer railway line that runs between Tororo and Mayuge.

The finding of major oil deposits in the Bunyoro region of Western Uganda is projected to promote economic activity along the Tororo-Pakwach and Kampala-Kasese rail lines. In response to the government is accelerating its plans to begin commercial oil production.

The Standard Gauge Railway is projected to play an important role in Uganda’s economy. The country is endowed with over 80 minerals, including iron ore, phosphates, and copper, which are impossible to extract without good rail transportation.

The new railway will also allow access to the Democratic Republic of the Congo’s massive mineral resources, which include iron ore, aluminum, and copper. This will result in a more efficient transit path to international markets in China, India, Europe, and the US.

Currently, around 650,000 metric tonnes of freight are transported annually from the Port of Mombasa via Uganda to Rwanda, Burundi, and the Democratic Republic of Congo. This volume is likely to increase dramatically with the new railway, maybe by more than 20 times.

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President Museveni launches Lake Victoria Logistics to cut fuel transport costs in Uganda https://procurement.co.ug/president-museveni-launches-lake-victoria-logistics-to-cut-fuel-transport-costs-in-uganda/ https://procurement.co.ug/president-museveni-launches-lake-victoria-logistics-to-cut-fuel-transport-costs-in-uganda/#respond Fri, 19 Jul 2024 05:28:25 +0000 https://procurement.co.ug/?p=3615 President Yoweri Museveni launched Lake Victoria Logistics, a company focused on reducing the cost of transporting fuel in Uganda.

President Yoweri Museveni launched Lake Victoria Logistics, a company focused on reducing the cost of transporting fuel in Uganda.
Originally founded in May 2015 as Mahathi Infra Uganda, the company aims to transform petroleum logistics for Uganda and other landlocked countries such as Rwanda, Burundi, and the Democratic Republic of Congo, which receive their oil through Uganda.

In 2018, President Museveni laid the foundation stone for the facility, and today, he officially inaugurated it.

During the launch at Bugiri-Bukasa, Kawuku-Entebbe Road, he expressed his gratitude to Lake Victoria Logistics for their investment in Uganda.

“I am very happy about this move. Mahathi, you have helped us. I don’t know how much cheaper it is because you didn’t give us the figures, but I imagine it is much cheaper than it was. The most important thing is for you to enter the Ugandan market, and once you do, you are talking about the market of DR Congo, South Sudan, Rwanda, Burundi, and so on. This is really a goldmine for investors,” he said.

President Museveni also highlighted the progressive growth of Uganda’s economy due to the National Resistance Movement (NRM) government’s strategy.

“People who don’t understand the NRM strategy always miss the point. By 1986, Uganda’s money economy had collapsed. Therefore, our task was to revive it. When you hear people talking about traffic jams, it means the economy has been revived; you can’t have traffic jams if people don’t have money to buy cars and fuel,” he explained.

He emphasised that with the economy revived, it was time to rationalise it.

“Our transport system at the moment is irrational. We have so much traffic on the roads which is not economic. This project is part of the rationalization effort. By removing fuel from the roads, we are targeting that rationalization. I’m glad the proprietors and Ministers have assured the country that there is zero chance of pollution of petroleum in the freshwater lake,” he said.

The President encouraged investors to develop capacity for other forms of cargo besides fuel.

“I advise you to look for durable areas of investment because the recovery phase of Uganda’s economy is finished. Everything is there, it is now about rationalization. Bring us other investors who can invest in other sectors,” he added.

Launch of Lake Victoria Logistics

The Minister of Works and Transport, Gen. Katumba Wamala, stated that the project would significantly reduce the cost of transporting fuel in Uganda and the region.

“This effort will greatly reduce high maintenance costs, traffic congestion on our roads, and frequent road accidents. I want to reassure you that these vessels are very safe,” he said.

Minister of Energy and Mineral Development, Ruth Nankabirwa, thanked Mahathi Infra for training and offering technical skills to Ugandans.

She remarked that this project marks a significant milestone in Uganda’s energy sector, demonstrating the country’s commitment to diversifying fuel import routes and promoting economic growth.

Board Chairman of Mahathi Infra Uganda, Dr. Steve Mainda, noted that the inefficiencies of road transport would be addressed by Lake Victoria Logistics.

“We have invested USD 100 million in this project. The vision is to establish a more efficient and sustainable solution to decongest the roads, ease border post traffic, and reduce the turnaround time and cost of moving fuel from Mombasa to Uganda,” he said.

Dr. Mainda also highlighted that the company has two state-of-the-art tank ships, each with a capacity of 4.5 million litres, made in Uganda.

“They are operational, and each ship can make 10 trips a month, transporting 90 million litres every month. We plan to construct two more ships to bring the monthly capacity to 180 million litres,” he added.

The facility includes 14 storage tanks with a collective storage capacity of 70 million litres, the largest in Uganda and East Africa.

A 256-metre-long jetty has been set up in Bugiri-Bukasa, facilitating the berthing of vessels and enabling efficient cargo handling.

Former board Chairman, Capt. Mike Mukula, thanked President Museveni for his support, remarking that this investment would significantly reduce the cost of doing business in the country by lowering transport costs between Kisumu and Uganda

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President Museveni opens 70 million- liters facility to boost Uganda’s fuel security https://procurement.co.ug/president-museveni-opens-70-million-liters-facility-to-boost-ugandas-fuel-security/ https://procurement.co.ug/president-museveni-opens-70-million-liters-facility-to-boost-ugandas-fuel-security/#respond Thu, 18 Jul 2024 17:18:34 +0000 https://procurement.co.ug/?p=3108 President Museveni has launched a 70 million litre fuel storage facility on Lake Victoria that is set to boost Uganda’s fuel security.

The facility owned by Lake Victoria Logistics is located at Bugiri-Bukasa in Wakiso district and has 14 tanks with a collective storage capacity of 70,000,000 liters.

Speaking on Thursday, President Museveni welcomed the new facility.

“This is the time to go into rationalization and this is part of it by getting fuel off the roads. This is rationalization of the economy as we are now going for the best practices,” Museveni said.

“I am happy for this since it will help us, now that it is  cheaper than it was(using road transport). Once you have entered market of Uganda ,you are talking of the market of South Sudan, Rwanda, Burundi, DRC. You have made the best decision.”

He pledged government’s commitment to ensuring the surrounding road network is improved to ease transportation of fuel from the facility to the market.

Capt. Mike Mukula, the chairman of Lake Victoria Logistics said the facility will help in bringing down the cost of fuel in the country.

“This investment will be a major catalyst in reducing cost of doing business in the country since transport is one of the major pushers of high costs. It will reduce cost of transport between Kisumu and Uganda,” Mukula said.

Ravi Shankar, the Managing Director for Mahathi Infra said the facility has a 256-meter-long jetty, which facilitates the berthing of vessels, enabling efficient cargo handling but also has two tanker ships each with a cargo capacity of 4. 5 million liters.

“This facility provides fuel security for the country but also helps reduce strain on the road as fuel is transported on water unlike the conventional way of using trucks which is also more expensive.”

The Works and Transport Minister, Gen Katumba Wamala welcomed the new facility and project at large.

“Being land locked we continue to depend on road transport which comes with high maintenance costs, fuel adulteration, traffic congestion, accidents and related non -tariff barriers which lead to delays and increased costs. It is therefore a deliberate government policy to reduce number of trucks which transport oil from Kisumu to Uganda by use of rail and water transport or any other means,” Gen Katumba said.

He encouraged private sector to continue investing in water transport.

The Minister for Energy, Ruth Nankabirwa described the facility as a new milestone for Uganda.

“We are making conducive environment for oil marketing companies and our expectation is to see reduced pump prices. If we are reducing transport costs by almost 50%, it should come with affordability on the pump price. Oil marketing companies should not target super profits,” Nankabirwa said.

The minister said by transporting fuel on water government is contributing to reduction in carbon emissions.

“It will also reduce on carbon emission for the country. Pollution levels which were being brought about by transportation by trucks will go down.”

 

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Uganda’s Vehicles import trade: Economic engine and regulatory shifts. https://procurement.co.ug/ugandas-vehicles-import-trade-economic-engine-and-regulatory-shifts/ https://procurement.co.ug/ugandas-vehicles-import-trade-economic-engine-and-regulatory-shifts/#comments Tue, 18 Jun 2024 08:48:06 +0000 https://procurement.co.ug/?p=2860 The car import business in Uganda is a multi-million dollar industry. In recent years, the revenue generated from taxes and duties on imported vehicles has consistently bolstered the national budget. The Uganda Revenue Authority (URA) collects substantial fees through import duties, value-added tax (VAT), and registration fees.

The car import trade in Uganda has long been a significant contributor to the country’s economy, playing a crucial role in transportation, commerce, and employment. Annually, Uganda imports thousands of vehicles, primarily from Japan, the United Arab Emirates, and the United Kingdom, with revenues from this sector contributing substantially to the national treasury.

The car import business in Uganda is a multi-million dollar industry. In recent years, the revenue generated from taxes and duties on imported vehicles has consistently bolstered the national budget. The Uganda Revenue Authority (URA) collects substantial fees through import duties, value-added tax (VAT), and registration fees. Estimates suggest that the car import sector contributes over $150 million annually to the Ugandan economy. This income supports various governmental projects and initiatives, fostering national development and infrastructure improvement.

Additionally, the car import trade supports a wide range of ancillary businesses, including transportation, logistics; spare parts dealerships, and automotive repair services. These related industries create thousands of jobs, providing livelihoods for many Ugandans and enhancing overall economic stability.

In an effort to modernize the national fleet and reduce environmental pollution, the Ugandan government imposed a ban on the importation of vehicles older than 15 years, effective from October 2018. This regulation aims to decrease the number of older, less efficient cars on the roads, thereby reducing harmful emissions and enhancing road safety.

While the intent behind the ban is commendable, it has had mixed effects on the car import trade. On one hand, the regulation has led to a cleaner and more efficient vehicle population. Newer cars tend to be more fuel-efficient and come equipped with advanced safety features, which can contribute to fewer accidents and lower pollution levels. Moreover, this move aligns Uganda with international environmental standards and commitments.

On the other hand, the ban has posed challenges for importers and consumers alike. Importers have had to adjust their business models, sourcing newer and typically more expensive vehicles. This shift has led to increased costs for businesses, which are often passed on to consumers. Consequently, the average price of imported cars has risen, making it more difficult for some Ugandans to afford personal vehicles.

Moreover, there has been a notable impact on the availability of certain vehicle types. Older cars, often favored for their affordability and simpler mechanical systems, are no longer an option, limiting choices for consumers, especially those in lower income brackets. This has led to a reliance on financing options and extended payment plans, which may not be accessible to all.

Despite the challenges, the car import trade remains a vital part of Uganda’s economy. The government is actively working on policies to support the transition, including incentives for importing eco-friendly and electric vehicles. Additionally, there are efforts to strengthen local automotive manufacturing and assembly, which could provide a sustainable alternative to imports in the long term.

As Uganda navigates these regulatory changes, the balance between environmental sustainability and economic accessibility will be crucial. The car import trade, while adapting to new regulations, continues to be a driving force in the nation’s economic engine, shaping the future of transportation in Uganda.

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South Sudan Cargo Piles up in Mombasa as Customs agents reject levy. https://procurement.co.ug/south-sudan-cargo-piles-up-in-mombasa-as-customs-agents-reject-levy/ https://procurement.co.ug/south-sudan-cargo-piles-up-in-mombasa-as-customs-agents-reject-levy/#respond Sun, 16 Jun 2024 11:32:39 +0000 https://procurement.co.ug/?p=2853 Cargo heading to South Sudan is piling up at the Port of Mombasa due to a dispute over a new mandatory tax.

This is after Kenya customs agents rejected the electronic cargo tracking note (ECTN) introduced by the South Sudan Revenue Authority Commission last week.

Yesterday, Kenya International Freight & Warehouse Association (KIWA) said the new levy has led to the delay in the clearing of cargo destined for South Sudan and could lead to congestion at the Port of Mombasa.

KIFWA chairman Roy Mwanthi said since its introduction, more than 1,000 containers destined for South Sudan are lying at the port.

Mwanthi said the local customs agents were being forced to collect the prerequisite service charges of Sh46,375 ($350) on behalf of the South Sudan Revenue Authority. He insisted that his members had declined to implement the order because it was against Kenyan laws.

The Clearing and forwarding agents were reacting to South Sudan Commissioner Brigader General Aduot Ajang Aduot’s notice dated March 1 this year to clearing agencies.

The notice says; “I am honored to introduce to you an initiative by the government of South Sudan to roll out to a mandatory Electronic Cargo Tracking Note (ECTN) for all imports to South Sudan and exports from South Sudan.

“Following the signing of a memorandum of understanding between the Government of South Sudan through the Ministry of Finance and Planning and Invesco Uganda Limited, an Electronic Cargo Tracking Note will be mandatory for all goods destined to South Sudan and all goods leaving South Sudan with immediate effect,” said part of the notice.

All clearing agencies have been instructed to enforce these regulations through partner Invesco Uganda company to ensure that goods comply with the new regulation.

“Therefore, all importers and exporters must comply and in addition, pay the mandatory service charge of 350 us dollars accordingly,” states part of the notice.

 

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CAA tests Entebbe International Airport for passenger crash response readiness https://procurement.co.ug/caa-tests-entebbe-international-airport-for-passenger-crash-response-readiness/ https://procurement.co.ug/caa-tests-entebbe-international-airport-for-passenger-crash-response-readiness/#respond Fri, 14 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-9/ ENTEBBE |  June | The Uganda Civil Aviation Authority (CAA) is testing Entebbe International Airport for passenger aircraft emergency readiness.

In a statement, CAA head of public affairs and communication Vianney Luggya said the emergency exercise is a simulation of an aircraft and how rescue efforts would be coordinated.

“The public should not be alarmed by the beehive of activities in and around the airport in relation to the exercise,” Mr Luggya said.

Comprehensive training and preparedness programs are critical to ensuring that all airport staff can respond effectively to emergencies.

Regular drills and simulations are conducted to keep personnel adept at executing emergency protocols.

In the high-stakes realm of aviation, the International Air Transport Authority (IATA) says effective emergency response is paramount.

Airline emergencies demand swift decision-making under pressure, often with limited resources and evolving conditions, it says.

Emergency simulation is done by replicating various scenarios whilst ensuring that all parties involved foster teamwork and enables managers to adapt and make calculated adjustments to manage crises effectively.

At many airports, it is often a cause of major concerns among travelers who are not aware of prior notice and run into fears of plane crash.

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Norway Invests US$ 307 Million in Kenya’s E-Mobility Sector https://procurement.co.ug/norway-invests-us-307-million-in-kenyas-e-mobility-sector/ https://procurement.co.ug/norway-invests-us-307-million-in-kenyas-e-mobility-sector/#respond Mon, 10 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-74/ Kenya | Transport News | June 2024

Norfund, a Norwegian investment fund, has pledged to inject US$ 307 million towards a number of e-mobility projects in Kenya, in support of the country’s sustainability goals.

  • The decision was made during last week’s official state visit of Norway’s Foreign Affairs minister, Espen Barth Eide, who visited BasiGo’s Buruburu depot.
  • The transport sector in Kenya was identified as a focal point for climate investors due to its burgeoning e-mobility sector and policy commitment towards eradicating carbon emissions.
  • Norfund was one of the first investors of the Lake Turkana Wind Project, but sold its stake in July 2021 to UK’s Anergi group.

“Our visit to BasiGo is a testament of Norway’s commitment to supporting Kenya’s growth through strategic investments. We are excited about the future possibilities that our continued partnerships can bring to the region and especially e-mobility,” said Espen Barth Eide.

BasiGo has flagged off 24 e-buses around Nairobi, collaborating with seven different bus operators. The investment aims to increase the number of electric public transport buses in Nairobi to 1,000 over the next three years.

BasiGo will receive investments through Novastar Ventures, funds that will be crucial in ramping up their production capacity and competitive advantage as more players join the market. The company already has 500 orders to fulfil in Kenya and 100 in Rwanda.

“Together, we are not only fostering economic growth but also ensuring that we contribute to a safer and more sustainable public transport system in Kenya,” said Jit Bhattacharya, CEO and Co-Founder of BasiGo.

BasiGo received US$ 3 million in April this year from CFAO group. The influx of equity funds in the company will also enable the company to invest in additional charging stations that will be in demand as e-mobility gains traction.

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Ecobank Group launches 7th edition of fintech challenge -Winner will take home $50,000. https://procurement.co.ug/ecobank-group-launches-7th-edition-of-fintech-challenge-winner-will-take-home-50000/ https://procurement.co.ug/ecobank-group-launches-7th-edition-of-fintech-challenge-winner-will-take-home-50000/#respond Mon, 10 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-11/ Ecobank Group has  officially opened call for applications to the seven edition of its Fintech Challenge.

This annual competition invites early-stage and mature fintech startups to partner with Ecobank, offering a grand prize of $50,000 and a chance to scale their solutions across Ecobank’s extensive network spanning 35 African countries.

Despite the fintech eruption in the African continent, a McKinsey report reveals that fintech start-ups in Africa are still facing several challenges such as reaching scale, navigating an uncertain regulatory environment, or managing scarcity of funding.

According to officials, the Ecobank Fintech challenge provides a unique opportunity for fintech entrepreneurs to address these challenges by not only offering financial rewards but by also providing Ecobank’s expertise in diversified markets operations and the right solutions to scale across its pan-African footprint and international presence such as France.

“Building partnerships with fintechs is a catalyst for driving financial inclusion in Africa. At Ecobank, we prioritize fintechs in our growth, transformation, and returns strategy ,” said Jeremy Awori, Chief Executive Officer of Ecobank Group.

“We have enhanced this new edition of the Ecobank Fintech Challenge to continue to provide fintech entrepreneurs with a premier platform to showcase groundbreaking solutions, while creating unparalleled opportunities for growth and expansion across 35 markets in Africa.”

Last year’s competition attracted 1,490 entries of real quality, which underscores the significance of this pan-African challenge.

Successful applicants reaching the grand finale and awards ceremony in October 2024 will have the chance to join the highly coveted Ecobank fintech fellowship programme, with the overall winner receiving a cash prize of $50,000.

Ecobank Fintech fellows will gain access to numerous opportunities through collaboration with Ecobank and its partners, potentially including  multinational product rollout with  an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network.

Fellows will also have an opportunity for service provider partnerships where selected fintechs may become Pan-African service partners within the Bank’s ecosystem.

Fellows will also receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market and also get priority access to Ecobank’s Venture Capital partners for funding exploration.

Since inception, 60 fintech startups have been inducted into the Ecobank Fintech Fellowship.

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