“I am glad that you have bought your own land in this country to start manufacturing and assembling your mobile phones,” said Anite.

Although she didn’t mention the timeline for this exercise, Anite did reveal that the company has already acquired land in Nakifuma in Mukono district where it will construct its plant. She didn’t comment on whether the company plans to manufacture and assemble Itel devices. However, considering that it is a subsidiary of Transsion Holdings, there are chances that its devices will also be manufactured and assembled in Uganda.

Ethiopia is the only African country where Transsion Holdings manufactures and assembles its phones. The company has been doing so since 2011. The other countries outside Africa include China, Bangladesh, India, and Pakistan. After constructing the plant, Uganda will become the second African country where the company manufactures and assembles its phones and other accessories.

Anite asked the company to quickly construct the plant and create decent jobs for Ugandans — to enjoy incentives including the zero-rated tax on sub-duty or “any” other documents the company will provide. “If you finish with the construction of your plant, among the additional incentives you will get is you won’t incur tax on your sub-duty or “any” other documents.”

She on the other hand emphasized that the opportunity and the incentives aren’t only for foreign investors but Ugandas (local) as well. “Ugandans this deal is for you too,” she said.

Anite also noted that the plant will promote Buy Uganda – Build Uganda (BUBU).

Anite noted that when the company starts manufacturing and assembling its phones and accessories it will promote Buy Uganda-Build Uganda (BUBU). The State Minister also remarked that the government will help the company promote its products and encourage Ugandans to buy them.

“So you will have a readily available market and not only looking at the 40+ million Ugandan market but 350+ million East African markets — and to add we have an excellent relationship with the African Free Trade Zone of 1.4 billion people,” said Anite.

Once completed, Transsion Holdings will be the third company after SIMI Technologies, and MiOne to manufacture and assemble their devices in Uganda. Notably, MiOne only assembles devices.

ALSO READ: HON. JUDITH NABAKOOBA COMMENDS SIMI TECHNOLOGIES

In May 2020, Uganda exported 18,000 mobile phones (made by SIMI) including feature and smartphones to Morocco. This became the first-ever international order for Ugandan-made mobile phones. The State Minister, Hon. Evelyn Anite flagged off the export pointing out that the government is taking great strides in tackling the import-export imbalance.

MiOne on the other hand, early this year launched its first-ever assembled smartphones; the Mione U1 and Mione Joy 9 in Uganda.

Ben Yu, Mione Brand Representative in Uganda told the press at the time “The launch of these smartphones is a big step towards supporting the government’s vision of empowering millions of Ugandans to embrace technology and digitalization.”

ICT Minister, Hon. Chris Baryomunsi appreciated the innovations being made by Mione and expressed his delight at the impact such milestones are making on the Ugandan digital growth picture by global standards — emphasizing the government’s eagerness to continue supporting such innovations.

MiOne is a Chinese mobile phone manufacturer based in Dubai. The phone parts/components are sent to Uganda and assembled at the company’s plant in Mbale City. The company not only assembles smartphones but feature phones as well — branded AB1, AB3, and AB6 models, and last year they sold over 500,000 units.

ALSO READ: MIONE JOY 9 FULL REVIEW: BUBU DELIVERED AS EXPECTED

The post Transsion Holdings Acquires Land For a Manufacturing Plant, says Anite Evelyn appeared first on PC Tech Magazine.

Emata’s funding is a combination of $800,000 (approx. UGX2,979,867,200) in equity and a significant $1.6 million (approx. UGX5,959,734,400) as on-lending capital. The backing for this impressive seed funding comes from a consortium of high-profile, impact-driven investors.

African Renaissance Partners, a venture capital firm focusing on entrepreneurs in East Africa and the Horn of Africa, is one of the primary backers. Europe’s largest impact tech ecosystem, Norrsken Accelerator, also played a pivotal role. Other notable contributors include Zephyr Acorn, which invests in early-stage technology ventures in East Africa, the globally recognized venture philanthropy firm Draper Richards Kaplan Foundation, and the esteemed Swedish angel investor, Marcus Bostrom.

“We are thrilled to complete our $2.4 million seed fundraise, backed by high-profile, impact-oriented investors who recognize the huge potential of digital agri-loans in East Africa, and beyond,” Bram Willem van den Bosch, Founder, and CEO of Emata said in a statement.

Emata’s Innovative Approach

Bram van den Bosch expressed his enthusiasm about the funding. He emphasized how Emata is challenging farmers to envision bigger possibilities and is actively working to remove the traditional barriers that have kept agricultural finance out of reach for many.

With Emata’s innovative approach, what was once a lifelong challenge is now streamlined into a process that takes mere minutes. Emata’s target markets in East Africa alone are valued at $13 billion (UGX48.4 trillion).

Established in 2020, Emata has been at the forefront of leveraging technology and forming strategic partnerships with agricultural cooperatives. This approach allows them to offer farmers digital financing solutions that are not only affordable but also tailored to their needs.

Instead of traditional collateral, Emata innovatively creates alternative credit scores based on various data points, such as a farmer’s delivery history.

The Plans Ahead

With this fresh infusion of funds, Emata has ambitious plans. They aim to broaden their agri-loan offerings across East Africa, starting with their home ground, Uganda, and potentially expanding to countries like Tanzania.

The primary focus will be on scaling their core markets, specifically dairy and coffee. Emata, being a multi-crop company since its inception, also has operations in oilseeds and maize, and plans are in place to venture into the potato sector.

Emata’s business model is timely, especially as East Africa is on a rapid digitization trajectory. By offering automated loans to farmers, Emata addresses the region’s agricultural financing gap. Their approach not only reduces costs but also provides loans to smallholders at rates that are five times more affordable than traditional informal loans.

The entire lending process has been digitized by Emata, and they have integrated themselves deeply into the agricultural value chain through partnerships with cooperatives and farmer-based organizations. This integration not only facilitates rapid scaling but also minimizes risks.

In 2022, Emata showcased a remarkable growth trajectory, growing sevenfold year-on-year. They have successfully collaborated with 50 agricultural partners, reaching over 40,000 individual farmers, and have disbursed loans worth $1 million (UGX3,724,834,000).

The post Ugandan Fintech Startup, Emata Has Successfully Raised $2.4M appeared first on PC Tech Magazine.

Launched in 2021, Btrust focuses on fostering developer talent and supporting the free and open-source Bitcoin ecosystem by locating, educating, and remunerating Bitcoin open-source engineers. Originally funded by former Twitter Boss, Jack Dorsey, and rapper & entrepreneur, Jay-Z, Btrust is currently headed up by an African Board of Directors; Abubakar Nur Khalil, Carla Kirk-Cohen, Obi Nwosu, and Ojoma Ochai.

Under the quartet’s leadership, the organization has launched the Africa Open Source Cohort, which offers support to its pioneer member, Vladimir Fomene, working on the Bitcoin Development Kit, and proudly sponsors the Africa Bitcoin Conference, an annual gathering for Bitcoin stakeholders from all around Africa and beyond.

Qala, founded in 2021, sources, trains, and matches African software developers with leading Bitcoin companies from across the world, equipping its engineers with the most sought-after skills in the global Bitcoin talent market. To date, Qala has built Africa’s largest online community of Bitcoin developers spanning over 42 countries including Nigeria, Kenya, and Uganda. With an impressive fellowship placement rate, the programs’ alumni have secured roles at the likes of Galoy, SphinxChat, and Bitnob, as well as open-source grants from Btrust and Superlunar.

Bernard Parah, Co-Founder and Director of Qala, speaking on the acquisition says “Today’s announcement significantly accelerates our mission to build a critical mass of African engineers with a deep understanding of Bitcoin’s capabilities to transform the African continent — strengthening our capacity to not only expand our existing community but effectively resource them to play a major role in influencing Bitcoin’s open-source development as a vital solution to Africa’s unique socio-economic challenges.”

Parah further said, “With this in mind, we strongly believe our new transition should not only be viewed as a massive boost for the Bitcoin ecosystem but a crucial foundation in leveraging Bitcoin as the gateway and catalyst to financial freedom in Africa.”

As part of the deal, Femi Longe; CEO of Qala, and Stephanie Titcombe; Programmes Manager at Qala, will officially join Btrust as Programme Leads at Btrust Builders.

Ojoma Ochai, a Board Member at Btrust welcomed Femi Longe and his excellent team to Btrust.

With Qala’s extensive outreach and world-class programs, the organization has made rapid progress in driving open-source development through the advancement of education which is heavily aligned with Btrust’s core mission.

Ochai said, “As we move forward, we’re fully focussed on not only building on Qala’s impressive work in Africa but empowering more developers with the support they need to build truly innovative open-source solutions through the power of Bitcoin.”

To kickstart the next phase of its growth journey, Btrust Builders’ program will pivot to focus on open-source training and has launched a call for its next cohort of senior African software developers seeking to transition into building for Bitcoin and Lightning.

Btrust Builders this month will launch the ‘Build for Africa’ Hackathon, which seeks to encourage makers to build solutions that solve African challenges and increase Bitcoin adoption in Africa. This will serve as a platform for open innovation and collaborative problem-solving, where makers will converge to generate novel ideas through an idea hack focused on tackling Africa-specific challenges and accelerate their Bitcoin projects through mentorship in design, development, and lighting integration.

The hackathon is a key pre-event for the Africa Bitcoin Conference that will be held on December 1-3, 2023 in Accra, Ghana, which Btrust is proud to support for the second year running.

The post Btrust Acquired Qala to Build The Next-Gen of African Bitcoin Developers appeared first on PC Tech Magazine.

Every two years since June 2017, Disrupt Africa has released the Finnovating for Africa publication, which tracks the extraordinary development of the fintech ecosystem across Africa over the last few years.

It includes consideration of the regional spread and growth of fintech ventures, discussion of startup activity in various sub-sectors of the fintech industry, data on fintech startup launches by year, and tracking of funding and acquisitions in the fintech space, as well as a full list of every known African fintech startup.

The fourth edition of the report is released in partnership with AZA Finance, an African fintech company offering secure and efficient financial infrastructure for payments, foreign exchange, and settlement; and Curacel, an insurance infrastructure company that helps insurers and partners in Africa and other emerging markets increase the reach and functionality of insurance through cloud-based tools and APIs.

The report reveals that the fintech ecosystem is the most-populated vertical within Africa’s wider tech ecosystem, having gained steady growth over the last two years. Since the last edition of Finnovating for Africa in 2021, the number of startups operating in the space grew by 17.7 percent to 678.

This growth is taking place across the continent, with all major markets bar South Africa posting an increase in the number of active ventures. Egypt and Nigeria are growing especially fast, with the number of fintech companies based in those countries leaping by 66.7 percent and 50 percent respectively over the course of the last two years,

While leading the way for activity, fintech is also by far and away the most popular vertical for investment within the wider African tech space. Since Disrupt Africa began tracking funding in the African tech startup space in 2015, 540 fintech startups from 25 countries have raised an extraordinary USD$3,635,823,965, three times more than any other sector.

Total investment per year has been on a fairly steady upward trajectory since 2016, yet growth has been especially impressive in the last two years. The number of funded ventures has almost doubled since 2021, and more than USD$2.7 billion has flooded into the ecosystem in the last 24 months.

African fintech startups are also more likely to be acquired than their peers. Disrupt Africa tracked 26 fintech startup acquisitions between June 2021 and July 2023, compared to just seven between 2019 and 2021, and accounting for over 60 percent of the 43 such deals reported since 2011.

“This report, which we release every two years, is one of our flagship publications, alongside our annual funding report, and this year’s edition is a big one, tracking a remarkable 24 months of development in the African fintech space,” said Tom Jackson, co-founder of Disrupt Africa. “We’re looking forward to releasing it, and thankful to our partners for helping to make it happen.”

Perry Braun, head of marketing at AZA Finance commenting on the release of the report said, “I take great pride in AZA Finance’s inclusion in this year’s Disrupt Africa report. It strengthens our position as a leader in connecting global businesses with seamless payment solutions across Africa.”

Braun remarked that the collaboration with Disrupt Africa comes at a significant moment as they have recently expanded their payment corridors to include Zambia, Uganda, Cameroon, Benin, Senegal, Burkina Faso, Togo, and Ivory Coast. “With over a decade of experience as Africa’s leading cross-border payments provider, we remain committed to fostering financial inclusion and helping businesses thrive in Africa,” said Braun.

Henry Mascot, the Chief Executive Officer of Curacel, on behalf of the company, said they are happy to partner with Disrupt Africa to produce the report which aims to shed light on the insurtech revolution in Africa and its immense potential for both companies and individuals.

Editor’s Note: THE REPORT IS AVAILABLE FREE FOR DOWNLOAD

The post Disrupt Africa Releases its “Finnovating for Africa 2023” Report in Partnership With AZA Finance and Curacel appeared first on PC Tech Magazine.

The big question on many people’s minds right now is; how does 5G fare against the well-established Fiber and 4G technologies in terms of reliability and cost? This is a comparative analysis to highlight the strengths and weaknesses of each technology.

Reliability

5G technology offers significant improvements in reliability compared to 4G. Its low latency of less than 1milisecond and higher data transmission rates of over 1GB per second provides a more stable connection, especially in densely populated areas. However, 5G’s reliability may be influenced by factors such as signal interference from buildings and obstacles. Due to its higher capacity, 5G can handle more than 1 million connected devices per square kilometer without compromising performance.

Fiber-optic internet is widely regarded as the most reliable internet connection available. Since it uses light signals through optical cables, it is less susceptible to signal interference and external factors. Fiber offers symmetrical upload and download speeds, making it ideal for applications that require consistent, stable connections, such as video conferencing and cloud-based services. It is important to note though that the deployment of the fiber requires either trenching or the use of overhead lines which will require right-of-way acquisition, road crossing approvals, and the like which would translate into cost, delay in providing service, and sometimes complete failure to get the deployment done.

4G LTE technology has been a reliable option for mobile connectivity for years. While it provides decent reliability for most day-to-day tasks, its performance may vary based on network congestion and signal strength, making it less consistent compared to fiber and 5G.

Verdict: Fiber takes the lead in terms of reliability, providing a consistent and stable connection. 5G follows closely behind, with its low latency and fast speeds, while 4G lags in terms of consistent performance.

Cost 

As 5G technology is still relatively new, its implementation costs are higher, especially for network infrastructure. Initially, 5G-compatible devices might also come with a premium price tag. However, as 5G becomes more widespread and competition increases, costs are expected to become more competitive.

Fiber internet can be cost-effective in the long run due to its lower maintenance requirements and higher efficiency. The initial installation cost of fiber infrastructure can be higher, but the benefits of faster and more reliable connections can outweigh the cost.

4G technology is widely available and relatively affordable for consumers. However, data plans for mobile 4G usage can become costly, especially for heavy data users.

Verdict and conclusion
4G is the most cost-effective option for mobile connectivity, but for fixed internet connections, fiber offers excellent value in the long run. 5G’s cost-effectiveness will improve with time as the technology matures and becomes more widely adopted.

Each technology, 5G, Fiber, and 4G, has its advantages and disadvantages when it comes to reliability and cost. 5G brings faster speeds and lower latency, making it ideal for high-bandwidth applications, but signal interference might influence its reliability. Fiber-optic internet offers unparalleled reliability but may come with higher initial installation costs. 4G provides mobile connectivity at an affordable price, but its reliability can fluctuate based on network congestion.

Ultimately, the best choice depends on individual needs and priorities. Businesses requiring consistent and high-speed connections may opt for fiber or 5G, while consumers seeking affordable mobile connectivity may prefer 4G. As technology continues to evolve, we can expect all three options to improve and to continue to exist, providing better and more accessible internet connectivity for everyone.

By: Yasin Ramadan, MTN Uganda’s senior manager for network planning and engineering

ALSO READ: 5G IS NO LONGER AN IDEA, IT IS HERE — MTN UGANDA

The post How 5G Compares to 4G and Fiber — Yasin Ramadhan appeared first on PC Tech Magazine.

The data infrastructure and analytics company, Tunnel, has established itself as a trusted partner in the credit and identity industry by connecting lenders to high-quality data and sustainable technology. Its pioneering fintech product, PhoneCash, also helps customers send money as quickly as possible. The integration of Tunnel’s services provides businesses with a powerful tool to scale, enabling access to real-time customer information from multiple sources through a single API.

Recognizing the importance of financial data as a crucial component of identity verification, Prembly has strategically chosen to merge Tunnel into its existing identity verification solutions. “We understand the unique challenges faced across the markets and we are thrilled to announce the acquisition of Tunnel. This aligns with Prembly’s core mission to protect and enable businesses to thrive by providing robust compliance and security infrastructure,” says Lanre Ogungbe, CEO of Prembly.

Tunnel was built to make data available for regulated providers to access, use and share, allowing customers to interact with multiple streams of financial solutions. Tunnel’s co-founder & CEO, Tobi Okedeji, commented, “We are proud to join forces with Prembly, as we merge our solutions into an extensive compliance and security network. This acquisition marks a drive towards empowering businesses, particularly with actionable customer information and insights.”

This makes a significant difference in Prembly’s operations, creating an ecosystem poised to improve data sharing and mitigate risks with customer verification. It represents a milestone in the company’s growth and reinforces a strong dedication to fostering strategic collaborations and partnerships to expand service offerings.

The post Prembly Strengthens Compliance and Security Infrastructure by Acquiring Tunnel appeared first on PC Tech Magazine.

In today’s times hiring or outsourcing software development is pretty standard and crucial for the sake of keeping up with the ever-changing technological norms. I mean striving hard to go beyond your predetermined objectives and keeping all the financial constraints in mind is definitely not an easy thing to do. Fortunately, we have a plethora of trustworthy software development companies across the globe to look forward to. You can look out for in-house developers offshore service providers, dedicated developers, and whatnot.

But first and foremost, you need to understand the significance of hiring a software development company and how choosing a team of highly skilled and experienced software developers who have the knack of disseminating all the good ideas from the bad to enhance your business efficiency and this going to be beneficial in the long run.

Why Hire a Software Development Company and what are its benefits?

It doesn’t matter whether you are looking for an in-house team of software developers to extend your business reach willing to outsource your projects for optimizing and streamlining business operations or simply want to hire experts for mere consultation, the only option you need to look out for is hiring a software development company. Keep in mind that your competitors are vying every minute to gain the attention of the end-users, so even if you want to survive in this competitive time, you need to get along with the digital transformation. Also, having good software seems to have never been as important as it is now.

The benefits of hiring a software development company;

Turn your vision into reality
Now when you are running a business, it is obvious that you must have a strong vision and to ensure that it turns into reality you must hire dedicated software development teams who can assist well in taking care of all your techie stuff and letting you focus on simply your core competencies well.

Now let’s say even if you already have a tech-savvy team at bay, hiring additional software programmers with a fresh set of eyes, and offering a new outlook or perspective can be way more beneficial. Also, your end goals can be achieved in no time.

Enhanced productivity
Another crucial aspect or benefit received from hiring a professional software development service is that your overall productivity and efficiency are increased. When you hire professionals to conduct a software development project, there are more chances of an increase in the speed of development and faster which eventually leads you to gain a competitive edge in no time. And since these developers are pretty well-versed in their tasks, you get to focus on your core competencies and gain immense returns on investments.

Cost-effective Strategy
There’s a preconceived notion that hiring software development teams can turn out to be way more costly — well, that’s certainly not the case. However, not hiring a reliable team of software developers can cost you a lot — thus, hiring a highly skilled and experienced team of software developers can save you from bearing unwanted and unnecessary losses and you get to stay in the game for the long run. In other words, not hiring a software development company can turn out to be way more costly than hiring one.

Trustworthy Partner
When you hire a reliable team of software professionals, they are bound to turn out to be trustworthy and reliable. The software development life cycle is not a one-time process but rather an ongoing process. Even after the software is deployed successfully it needs to be maintained and upgraded for patches and modifications throughout — and a trusted partner will help you carry out such tasks including real-time support, maintenance of systems, timely upgrades, migration activities, and best measures for compliance management and cybersecurity.

How to Hire a Reliable Software Development Company?

Hiring a software development company, you need to invest your time, money, and energy into it. When choosing the right team of software developers, the question you ask — is how to conduct this task especially when you have thousands and ten thousands of options around. To go about this;

1. Be clear with your goals and objectives

One of the obvious yet crucial things to do is define your core objectives in prior. It is very important to have at least some core idea of what exactly you want to build. A lot of time can be saved from your end as well as from your software development service providers. Having a decent plan or outline featuring basic mockups, diagrams, and/or workflows could be great to start with. And when you are clear about what you want, there is no scope for any kind of misinterpretation. Not doing so can definitely result in inaccurate budgeting or going overboard and exceeding the timelines.

2. Look out for the best software development teams

The next step to take into account is looking out for some of the most reliable and reputable software development teams.

• Go for word-of-mouth or reliable recommendations: The first and foremost step you can think of is to consider word-of-mouth aspects. There’s always someone who has already opted for a software development project which has also turned out to be successful. 65% of marketing executives believe that word-of-mouth works wonders among all the different ways of marketing. And since it is triggered by amazing customer experience, one can definitely take the risk of laying all their eggs in one basket. Even if you go all in, there are fair chances of you winning and becoming the game changer in no time.
• Internet Search: Another seamless way to look out for the best software development companies across the globe is by using the internet. You are most likely to find relevant results here. Searching with the right keyword such as “Top Software development companies in India” or Outsourcing software development to India” can reap good results
• Listing Directories: Using listing directories such as Clutch, Goodfirms, and AppFutura to mention a few you have a high chance of getting the best software development company. You can use the directories to look out for a reliable development partner by narrowing down your search or putting in different filters such as country, programming languages, and frameworks you want to have onboard.

3. Assessing these Companies

Having shortlisted the software development companies, you can proceed with assessing them thoroughly. Go through their websites, check out their vision and mission page, about us page, and a lot more. In addition, try to understand what type of technologies they tend to work for as well as if the software developers have the right talent and experience in working with this tech stack.

Proceed with the interviews to conduct a SWOT analysis. Try exploring their work, projects they have accomplished to date, competencies, how is their end quality, how experienced are they, and do they have any social reach.

Apart from all these factors, check out whether they are good communicators or not. Whether you choose in-house teams or outsource software development companies, one has to make sure that they excel when it comes to communication. Apart from this, they must incorporate amazing soft skills such as problem-solving abilities, leadership, teamwork, time management, patience, emotional intelligence, creativity and so much more.

ALSO READ: THE ROLE OF RECRUITMENT AGENCY SOFTWARE IN TALENT ACQUISITION

Best Hiring Models For a Software Development Company

These aforementioned hiring models are one of a kind, so before making a choice do not forget to evaluate each one of these.

Onshore
Now try typing the term looking for development companies near me. As a result, you will see agencies in the same country or region. So when you choose a custom development company located near you, it means you are choosing an onshore model. You can get in touch or visit your team of software developers at any point in time. Some of the perks of choosing an onshore-based software development company are that you get quality assurance and quality control advantages. The only issue is that you may have to choose from a limited pool of talent.

Offshore
The next interesting hiring model for a software development company is offshore. As the name implies, here you are choosing a software development company that is based in an offshore location basically in another country.

The time zones are pretty different, and language or cultural differences could be barriers then why is offshore software development still in vogue? Well, it is pretty cost-effective to choose professionals within your country. Apart from this, here you get to hire from a wide range of talent pools. Also, different time zones mean you are bound to receive round-the-clock services.

Nearshore
Another interesting software development model is nearshore. Now this is the best option for businesses who hesitate in hiring software development companies too far or offshore. Though again this one is choosing an outsourcing company located in a country nearby but it happens to be in the same time zone as you. Again, nearshore is less expensive than onshore but more expensive than offshore.

Hybrid
Lastly comes the hybrid model for hiring a software development company. Now as the name suggests, the hybrid model tends to turn out to be a rare combination of offshore and onshore models. It is mainly incepted to ensure that the communication channels become seamless and the overall cost is reduced. Here the Project manager might be working for your country whereas the team of software developers is sitting somewhere offshore. This surely minimizes the severe communication gap.

ALSO READ: BENEFITS OF INVESTING IN A CUSTOM SOFTWARE FOR YOUR BUSINESS

The post Why Does Your Business Need Professional Software Development Services appeared first on PC Tech Magazine.

However, their journey is not without its challenges, and reaching a crucial crossroads where they must decide between exiting or shutting down their startup presents an intense emotional and intellectual dilemma.

The Quest for a Dream

African startups typically emerge from a blend of unwavering dedication, burning passion, and compelling necessity. Founders identify promising gaps in their local markets and devise ingenious solutions to address them.

Guided by their creativity and fueled by their dreams, these brave pioneers embark on an adventure to transform their vision into a viable venture.

They court investors and attract interest, allowing their young startup to take root. With seed funding or early-stage investments from venture capitalists, angel investors, and accelerator programs, these startups build prototypes, assemble teams, and validate their business models.

As the wheels of growth begin to turn, the startup finds its niche, secures more funding, and expands organically, much like a seedling blossoming into a mighty tree.

Living the African Startup Dream

In the scenic panorama of success, an African startup founder ascends remarkable milestones, propelling their venture to become a formidable player in the market. Their brainchild gains widespread acceptance, customers endorse their brand, and revenues soar.

These success stories have a ripple effect on the local economy, creating employment opportunities, attracting foreign capital, and fostering a culture of innovation that ignites the spark of inspiration in aspiring entrepreneurs.

For a successful founder, numerous doors swing open. They can choose to continue scaling their venture, exploring untapped markets within Africa or internationally. Alternatively, they may diversify their offerings by merging with complementary startups or forming strategic alliances to strengthen their market position. However, this grandeur of success also comes with immense responsibility and pressure to sustain consistent growth.

Obstacles on the Path to Success

Success is never guaranteed, and the path to achieving it is filled with challenges and setbacks. Several factors can seal a startup’s fate and lead to failure, including:

1. Market Challenges: African startups may struggle to adapt to dynamic market trends and evolving consumer preferences, particularly in sectors dominated by established giants.
2. Funding Constraints: Despite securing initial funding, startups might encounter difficulties in securing subsequent rounds of investment, which hinders their growth trajectory.
3. Infrastructural Gaps: Insufficient infrastructure, such as unreliable power supply, subpar internet connectivity, and logistical inefficiencies, can impede operational effectiveness.
4. Regulatory Complexities: Navigating through complex and unpredictable regulations can be a formidable challenge for startups, affecting their operational agility.
5. Talent Retention and Acquisition: Competing for skilled talent within a growing startup ecosystem can be an uphill battle.
6. Scalability Concerns: Some business models may struggle to scale, limiting startups from expanding beyond their immediate operational domains.

ALSO READ: THE CHALLENGES FACED BY FEMALE FOUNDERS IN THE STARTUP WORLD

At the Crossroads: To Exit or Shut Down

When faced with a daunting business environment and struggling to maintain growth, founders find themselves at a critical juncture: whether to exit the venture through acquisition or to close the curtains on their enterprise.

Each alternative carries profound implications, impacting not only the founder but also employees, investors, customers, and the broader entrepreneurial community.

1. The Acquisition Route

The acquisition route may appear enticing, particularly for startups that have attracted the interest of larger enterprises seeking to expand their product/service range, enter new markets, or access innovative technologies.

By selling the startup, founders can realize substantial returns on investment for themselves and their investors, unlocking resources for new entrepreneurial endeavors.

Acquisition by an established firm provides stability and abundant resources for the startup team, fast-tracking growth and development. Moreover, it can stimulate job creation within the local ecosystem as the acquiring firm expands its operations.

However, this decision demands careful consideration. Founders must weigh the promise of financial gains against their emotional attachment to their brainchild and assess the implications for the startup’s vision and mission under new leadership.

2. Winding Up the Venture

When prospects appear dim and acquisition opportunities are scarce, founders may face the harsh reality of shutting down their venture. Such a decision is inherently heartbreaking, signifying the acknowledgment of a dream’s demise and letting go of the effort invested in building the startup.

Shutting down affects more than just the founder; it impacts employees who lose their jobs and investors who lose their investments. It can also cast a shadow on the entrepreneurial landscape, potentially discouraging future entrepreneurs.

However, even in the face of adversity, shutting down offers a valuable learning experience. The lessons gleaned from the startup journey can be applied to future endeavors, providing valuable insights to enhance the chances of success.

To sum up, the journey of an African startup founder resembles a captivating novel of ambition, innovation, and resilience. Success stories reignite the flame of entrepreneurial passion, nurturing a vibrant startup ecosystem.

Yet, despite their dreams and tenacity, some founders find themselves standing at a perplexing crossroads: choosing between exiting through acquisition or bringing their venture to an end.

The decision is as intricate as a chess game, involving alternating moves between financial realities, emotional considerations, and stakeholder repercussions. Regardless of whether a founder decides to exit or shut down, their journey shapes their character and leaves an indelible mark on the entrepreneurial landscape.

Despite the challenges and outcomes that arise, the experiences gained from molding a startup, navigating through stormy seas, and making life-altering decisions contribute immensely to the richness and diversity of the African startup ecosystem.

Ultimately, it is the collective efforts of these passionate founders that will continue to fuel innovation, stimulate economic growth, and shape the future of the continent.

Editor’s Note: This article was jointly written.

The post Critical Crossroads: The Inspiring Tale of African Startup Founders appeared first on PC Tech Magazine.

According to the report, the industry is driven by the rising adoption of cloud computing, the expansion of 5G, and much more. The shift toward cloud computing in the telecommunications sector has revolutionized the way services are delivered and managed.

Telecom operators are leveraging the cloud to enhance scalability, reduce costs, and improve operational efficiency. Additionally, the rapid expansion of 5G networks and the Internet of Things (IoT) has generated a massive amount of data that needs to be stored, processed, and analyzed, creating a demand for robust cloud infrastructure. The growing popularity of Software-as-a-Service (SaaS) and virtualized network functions are propelling the telecom cloud market forward, offering flexibility and agility to service providers.

In terms of application, the industry is segmented into software-defined networking, network function virtualization, content delivery networks, and others. The telecom cloud market from the software-defined networking segment will expand notably from 2022 to 2032. SDN separates the network’s control plane from the underlying hardware, allowing operators to centrally manage and orchestrate network resources.

Telecom cloud provides the scalable and flexible infrastructure needed to host SDN controllers and network functions. By utilizing the cloud, operators can dynamically allocate resources, optimize traffic flow, and rapidly deploy network services.

Telecom cloud enables the virtualization of network functions, such as routers and switches, allowing for efficient resource utilization and cost savings. SDN, coupled with the telecom cloud, empowers operators with enhanced network agility, automation, and scalability, paving the way for future innovations in the telecommunications industry.

Based on components, the market is divided into service and solution. The telecom cloud market from the solution segment is projected to witness substantial growth up to 2032, as these solutions are tailored specifically to the unique needs of telecom operators. One of the key benefits of telecom cloud solutions is the ability to virtualize network functions, allowing operators to scale and deploy services more efficiently. These solutions also offer centralized management and automation capabilities, enabling operators to streamline their operations and reduce costs.

With telecom cloud solutions, operators can leverage the power of cloud computing to enhance their networks, improve customer experience, and drive innovation in the industry.

The APAC telecom cloud market has experienced significant growth in recent years. The expanding telecommunications industry, coupled with the increasing adoption of cloud computing, has driven this growth. Factors such as the rapid proliferation of smartphones, the growth of 4G and 5G networks, and the rising demand for digital services are fueling the demand for telecom cloud offerings. Additionally, governments in the region are promoting initiatives to enhance connectivity and digital infrastructure, further accelerating the adoption of telecom cloud solutions. With a vast population and evolving consumer preferences, the APAC telecom cloud market presents immense opportunities for service providers and technology vendors alike.

Some of the leading companies operating in the telecom cloud market are Nokia, AWS, Ericsson, Fortinet, Huawei Technologies Co. Ltd., Juniper Networks Inc., Microsoft Corporation, Cisco, Oracle Corporation, Orange, Salesforce, Verizon Communication, IBM Corporation, VMWare, and Google.

These market participants are focusing on mergers & acquisitions to expand their product & service portfolio, thus bettering the profit prospects. For instance, in July 2021, Ericsson completed the acquisition of Vonage Holdings Corp. This will allow Ericsson to have access to strong foundational elements, enabling it to offer a comprehensive range of communications solutions, including UCaaS, Communications Platform as a Service (CPaaS), and CCaaS.

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Founded in 2016, KaCyber has been at the forefront of providing digital ticketing and payment systems to public transport operators across the continent. With over seven years of unwavering dedication and a mission to catch up with global technology trends, KaCyber has made significant strides in transforming the transportation landscape in Africa.

Having processed a staggering 11 million tickets since 2019, equating to transactions worth UGX200 billion, KaCyber’s impact on the industry cannot be overstated. The company’s digital ticketing and payment solutions have not only enhanced efficiency and convenience for both operators and passengers but have also catapulted KaCyber into the spotlight as a key player in Africa’s tech scene.

In light of these remarkable accomplishments, we had the privilege to sit down with the visionary leader himself, Innocent Orikiiriza, the Founder and CEO of KaCyber Technologies. In this interview, we delve into the journey of KaCyber over the past seven years, the challenges encountered along the way, the impact of the COVID-19 pandemic, and the opportunities that lie ahead.

1. Congratulations on the success of KaCyber Technologies! It’s impressive to see how your company has grown and become a prominent player in the transportation tech industry in Africa. Could you share with us a brief overview of KaCyber’s journey over the past seven years, including the major milestones you’ve achieved along the way?

Our company, KaCyber Technologies, provides digital ticketing and payment solutions to the public transportation sector in Africa. Since our product launch in 2019, we have experienced remarkable growth and emerged as a prominent player in the public transportation tech industry in Uganda. With the Kampala commuter trains and over 100 coaches currently listed and running on our e-ticketing platform, we have processed more than 11 million tickets, amounting to a transaction value exceeding USD$54 million (approx. UGX199.5 billion).

Our journey has been marked by significant milestones, which include valuable local and international partnerships with Uganda Railways Corporation, Kiira Motors Corporation, the Ministry of ICT and National Guidance, Interswitch, and the Science, Technology, and Innovation Secretariat — Office of the President of Uganda (STI-OP).

As we continue to expand our business, I am excited to announce the upcoming launch of contactless transport payment cards for public transport in Kampala, as well as the introduction of online bus ticket services through our website www.kacyber.com, and the KaCyber Go App.

These achievements reflect our full commitment to innovation, strategic collaborations, and our vision of revolutionizing the public transportation sector in Uganda and across Africa.

2. The COVID-19 pandemic has had a significant impact on various industries worldwide. How did it affect KaCyber’s operations, and what adjustments did you make to navigate through these challenging times?

The pandemic presented unprecedented challenges for KaCyber’s business operations. The grounding of buses and public transport in general, coupled with reduced demand for public transportation services, significantly impacted us. However, we swiftly adapted to the situation by establishing partnerships in the international Business Process Outsourcing (BPO) space, which helped us maintain stability during those challenging times. Simultaneously, we took the opportunity to revamp our e-ticketing platform, incorporating delivery, luggage, and cargo handling and tracking abilities to cater to the evolving market needs of our bus operators and passengers.

This paradigm shift not only made us more resilient but also allowed us to enhance our product, making it more innovative and beneficial for transport operators and their clients.

Today, our e-ticketing solution stands as a pioneer in the industry, offering passenger and cargo ticketing capabilities along with real-time notifications, setting us apart from the competition. These adjustments, driven by our visionary leadership and the dedication of our core team, have enabled us to navigate the pandemic and emerge stronger than before.

3. KaCyber has processed over 11 million tickets across buses and trains in Uganda, amounting to transactions worth UGX200 billion. That’s an incredible accomplishment! How has your digital ticketing and payment system improved the efficiency and convenience of public transportation for both operators and passengers?

For operators, our system facilitates access to credit from debt financiers, enabling them to acquire buses and expand their services. This, in turn, leads to increased profitability and sustainability. Passengers, on the other hand, experience improved convenience through streamlined ticketing processes, eliminating paper tickets and reducing wait times. Additionally, our system enhances cargo safety with efficient tracking and management.

By combining financial inclusivity, operational efficiency, and enhanced passenger experiences, our digital ticketing system has reshaped the public transportation landscape. As we look ahead, we continue to seek investment to realize our grand vision, including expanding our market coverage and further empowering transport operators. The benefits of our solution are immense, and we are committed to driving positive change in the industry.

4. Participating in events like HiPipo’s 40 Days 40 Fintechs, the GITEX Africa Summit, and the Open Innovation Program hosted by Housing Finance Bank are remarkable achievements. How have these opportunities helped KaCyber increase its visibility and attract new partnerships or clients?

Participating in renowned events like HiPipo’s 40 Days 40 Fintechs Initiative, the GITEX Africa summit, and the Open Innovation Program have been pivotal moments for KaCyber. These opportunities have immensely contributed to our increased visibility and opened doors to exciting partnerships and new clients, allowing us to reach a global audience, as well as positioning KaCyber as a leading player in the transportation tech industry across Africa.

Additionally, our participation in recent high-profile events like GITEX Africa summit has provided us with invaluable networking opportunities and exposure to key industry stakeholders and decision-makers at global level. These experiences have strengthened our brand reputation and credibility, making KaCyber an attractive choice for potential strategic partnerships and clients seeking innovative and sustainable mobility solutions.

ALSO READ: KACYBER TECHNOLOGIES SHINED AT GITEX SUMMIT PUTTING UGANDA ON A GLOBAL TECH MAP

5. As a startup founder, you have experienced the rapidly evolving landscape of technology, including the effects of government regulations on internet-operating startups. What are some of the biggest challenges you’ve faced in navigating these regulations, and how have you managed to adapt to them while continuing to grow KaCyber?

Ultimately, our ability to navigate government regulations and maintain steady growth stems from our unwavering dedication, a collaborative approach with government partners, and a commitment to continuous learning and adaptation. We view government regulations not as obstacles, but as opportunities to foster innovation and ensure the long-term sustainability of our operations.

By actively engaging with regulatory authorities, participating in policy discussions, and staying abreast of industry developments, we proactively shape the regulatory landscape to foster an environment conducive to technological advancements. This approach has not only allowed us to comply with regulations but also enabled us to influence policies and drive positive change.

Our success in navigating regulations reflects our resilience, agility, and strong alignment with government objectives, propelling KaCyber toward greater heights.

6. Looking ahead, what opportunities do you see for KaCyber Technologies in the transportation tech industry in Africa? Are there any specific markets or expansion plans you’re considering to further scale your operations?

In the dynamic landscape of the African transportation tech industry, KaCyber Technologies has an exciting roadmap for expansion. Our immediate focus is on launching in Malawi and South Africa, solidifying our presence in these key markets.

By the end of 2023, we aim to establish strong partnerships with operators in Burundi, paving the way for enhanced transportation solutions in the region. Looking further ahead, we have ambitious plans to enter the Congolese market by 2025, followed by expanding into West Africa, with Senegal as a strategic entry point.

These strategic expansions will enable us to scale our operations, foster innovation, and create a lasting impact across Africa’s transportation landscape.

7. Many startup founders eventually contemplate an exit strategy as their companies mature. Have you ever thought about a potential exit for KaCyber? If so, what factors would influence your decision to consider such a move?

At KaCyber Technologies, our mission extends far beyond short-term gains or exit strategies. We’re on a thrilling journey to make seamless mobility sustainable across Africa. Picture this: public commuting that’s so effortless and appealing, it’ll make you want to high-five your bus driver! But we’re not stopping there. We’re teaming up with industry players to turn green mobility into a reality in the public sector. We’re not just here for a quick ride; we’re in it for the long haul.

So, when it comes to potential exits, [here’s a secret Nathan], we’ve hidden the exit sign behind our ambition. It’s nowhere to be found! Our commitment to revolutionizing transportation is lifelong, and we’re steering full speed ahead toward a future where transportation is seamless, appealing, and green. So buckle up, because with KaCyber, it’s a journey you won’t want to miss!

8. Given KaCyber’s impressive growth and achievements, there might be a possibility of acquisition interest from global players in the transportation or technology sector. Has the company received any acquisition offers or engaged in discussions with potential acquirers? How do you evaluate the potential benefits and challenges of being acquired by a larger entity?

As a company with ambitious dreams and grand aspirations, we actively seek additional investments to propel us toward our vision. Our market coverage in Uganda alone represents a mere 10% of the vast potential that awaits us, and the benefits we bring are immense. Operators are experiencing higher revenues, passengers are enjoying enhanced experiences, and governments are benefiting from improved monitoring capabilities.

While we cannot disclose specific acquisition offers or ongoing discussions, we carefully evaluate the potential benefits and challenges that come with partnering with a larger entity. We assess factors such as strategic alignment, accelerated growth opportunities, access to additional resources, and the preservation of our core values and mission. Our aim is to ensure that any decision ultimately advances our ability to create a sustainable and transformative impact in the transportation industry.

Looking ahead, we are actively seeking to raise over USD$15 million (approx. UGX55.4 billion) by of 2025 through strategic collaborations and investments. These endeavors will fuel our relentless pursuit of innovation and solidify our position as a driving force in revolutionizing transportation experiences. The future holds tremendous promise, and we eagerly embrace the possibilities that lie ahead.

9. Share thoughts on being the sole representative from Uganda in the Acceli City Resilience Challenge.

I was absolutely blown away by our digital ticketing solution being selected into the #AcceliCITY Top 100 Resilience Solutions providers in the world! The selection was from over 650 applications from across 80 countries. Being the sole representative from Uganda both reflects our potential as KaCyber and the potential of Uganda’s startup ecosystem and showcases the innovative ideas and entrepreneurial spirit that exist within Uganda and positions KaCyber as a frontrunner in the pursuit of innovation and technological advancement in Uganda’s mobility sector.

This recognition highlights the fact that Uganda has talented individuals and promising startups that can compete on a global scale, showcasing the innovative ideas and entrepreneurial spirit within Uganda’s startup ecosystem. It reflects our potential as KaCyber and positions us as a frontrunner in the pursuit of innovation and technological advancement in Uganda’s mobility sector, bringing attention to Uganda’s emerging tech scene and demonstrating that it is a viable destination for investment and partnership opportunities.

For KaCyber, being the sole representative from Uganda has positively impacted our reputation and recognition. It has put our company on the global map and increased its visibility within the smart cities and tech community worldwide. This recognition validates KaCyber’s potential and positions us as a leading player in the Ugandan transportation tech ecosystem.

This global recognition has opened up numerous opportunities for KaCyber in terms of partnerships and investments. It has provided a platform for KaCyber to connect with other startups and organizations from around the world, fostering future collaboration and knowledge exchange. Additionally, the opportunity has given KaCyber a unique advantage in terms of networking and building relationships with influential stakeholders in smart cities globally. I believe this will lead to strategic partnerships and collaborations that can further enhance our company’s growth and impact now and in the future.

Having had this conversation with Innocent, we have some hope that he and his team will revolutionize transportation in Africa. Their immediate focus, for now, is on launching in Malawi and South Africa, and by the end of 2023, established strong partnerships with operators in Burundi, paving the way for enhanced transportation solutions in the region. Looking further ahead, they have ambitious plans to enter the Congolese market by 2025, followed by expanding into West Africa, with Senegal as a strategic entry point.

The post Up Close With Orikiiriza Innocent, KaCyber Technologies CEO appeared first on PC Tech Magazine.