Tech company JUMO partners MTN Uganda to launch new credit service

UGANDA – JUMO, a technology company building next-generation financial services for emerging markets, has partnered with MTN Mobile Money Uganda Limited to launch MoSente, a new credit service that will afford the people of Uganda more choice when it comes to mobile lending services. MoSente is a convenient way for MTN customers to access credit facilities. Customers can borrow at…

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Fintech company Asaak partners Cauris to establish US$20m credit facility

UGANDA – Asaak, a provider of mobile-based equipment financing for gig workers in Uganda, has partnered with Cauris to establish a US$20 million credit facility. Cauris is a global private credit investment firm dedicated to promoting financial inclusion in emerging nations through the use of DeFi blockchain technology. This will be Cauris’ third investment in Africa. “We are excited to…

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Ugandans invited to invest in luxury Fumba Uptown Living apartments and villas

UGANDA – Ugandans have been invited to invest in luxury Fumba Uptown Living apartments and villas built along the idyllic Indian Ocean coastline in Zanzibar. Fumba is an inventive residential development project with a unique community concept, located along the southern shores of Zanzibar island. It provides its residents with a luxurious lifestyle and several options of chic housing units…

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Retail pharmacy Goodlife Pharmacies raises US$12m from Proparco to expand its network

EAST AFRICA – Goodlife Pharmacies, healthcare and retail pharmacy chain, raised US$12 million in debt financing from Proparco, the French Development Finance Institution, to increase access to quality medicines and healthcare services in East Africa. Goodlife is the largest private pharmacy chain in East Africa and has grown its pharmacy and health hub network to nearly 100 locations across Kenya…

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Rocket Health closes US$5M series A round to accelerate East African expansion

UGANDA – Uganda’s Rocket Health, telemedicine, and last-mile healthcare provider, has closed a US$5 million series A funding round to accelerate its expansion to the different regions of Uganda and into Kenya. The funding round was led by Creadev, an evergreen investment fund backed by the Mulliez family of French entrepreneurs. The round also attracted participation from early-stage African investors…

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Stanbic Bank Uganda launches US$100m Sacco fund to transform rural communities

UGANDA – Stanbic Bank Uganda Limited has launched a US$100 million savings and credit cooperative (Sacco) fund aimed at transforming the rural communities of Uganda. Under the new product, Saccos shall get unsecured loans of up to USh200 million (US$55,827) for first-time borrowers and USh400 million (US$111,655) for repeat borrowers with a satisfactory repayment history. General-purpose Saccos shall access the…

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Airtel money partners Housing Finance Bank Uganda for access to quick loans

UGANDA – Airtel Mobile Commerce Uganda limited (AMCUL), the provider of affordable and secure Airtel money platform, has partnered with Housing Finance Bank Uganda and digital lending platform provider YABX. The partnership is to enable Airtel Money customers, to access quick loans when they do not have sufficient funds in their wallet. This is the latest service offered by Airtel…

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TotalEnergies partners Winch Energy to produce renewable energy in Uganda

UGANDA – TotalEnergies, the French energy giant, has launched a plan to produce renewable energy in Uganda with a planned capacity of 1000 megawatts by 2030. The company is partnering with Winch Energy Ltd, a leading developer of off-grid energy systems in Africa on the initiative. The two companies will develop projects in solar, wind and other forms of green…

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SEACOM set to acquire infrastructure assets from mobile network operator Africell

UGANDA – SEACOM, the pan-African telecommunications service provider, has announced plans to acquire selected infrastructure assets from mobile network operator Africell in Uganda. The acquisition marks a significant step for SEACOM and is a testament to the company’s commitment to providing, competitive end-to-end connectivity and ICT solutions across the region. “East Africa has been an important market for SEACOM ever…

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Aleph Hospitality signs management contract to operate two hotels in Uganda

UGANDA – Aleph Hospitality, an independent hotel management company, has entered the Ugandan market with the signing of a management contract to operate two boutique hotels: Masheda Palms in Buyala and A’lure Hotel & Suites in Kampala. Aleph Hospitality’s portfolio now stretches across six countries on the African continent. “I am personally very excited to start operations in Uganda. This…

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