Runway to Web Summit events support local tech communities ahead of Web Summit events, fostering innovation and growth. The latest gathering brought together Web Summit founder and CEO Paddy Cosgrave, along with QDB CEO Abdulrahman Hesham Al-Sowaidi, to discuss the future of tech and its impact on Qatar’s ecosystem. They were joined by local Qatar-based startups SkipCash (mobile payment platform), Adeer (AI business management solution), Wqtah (platform for booking local experiences), and Kafy (food-tech) who shared their latest innovations and future plans.

Speaking at the event, Web Summit CEO, Paddy Cosgrave highlighted the potential of Web Summit Qatar 2025. “We are delighted to be in Doha today, alongside some incredible local Qatari startups showcasing the immense talent and potential of this region—which is truly exciting. It’s great to see some of last year’s participants returning as partners for this year’s event,” said Cosgrave. “We’re also thrilled to be here with Qatar Development Bank, who have been such a key part in growing Qatar’s startup ecosystem by offering support and resources that entrepreneurs need.” He added;

Honestly, we can’t wait for Web Summit Qatar 2025.

In 2024, Web Summit Qatar showcased the potential of Qatar’s entrepreneurial ecosystem, a foundation 2025 is set to amplify. “The success of Web Summit Qatar 2024 highlights Qatar’s role as a global hub for innovation and entrepreneurship, showcasing exceptional talent and opportunities across the Middle East, Asia, and Africa,” said Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the
Government Communications Office and Chairman of the Permanent Web Summit Organising Committee.

“As one of the fastest-growing events in the region, Web Summit Qatar attracts increasing global attention, underscoring its significance as a platform for innovation and collaboration. Building on this momentum, the 2025 edition will foster deeper partnerships, empower more startups, and drive greater progress in the tech and innovation sectors,” he added.

During the February event, Qatar Development Bank (QDB) unveiled its latest Startup Qatar Investment Programme under the Startup Qatar platform, aimed at supporting tech startups in establishing or expanding operations in Qatar. The event marked the signing of 24 Memoranda of Understanding, fostering strategic partnerships to advance the country’s tech ecosystem.

At the Runway to Web Summit gathering in Doha today, QDB CEO Abdulrahman Hesham Al-Sowaidi emphasized Web Summit’s role in driving innovation and collaboration, reinforcing Qatar’s position as a global leader in the tech and startup sectors.

“Web Summit Qatar represents a powerful testament to Qatar’s emergence as a global innovation hub. When thousands of startups from around the globe converge here and express interest in our ecosystem, it signals something truly transformative,” said Al-Sowaid. “We’ve successfully created an environment where innovation thrives, where government support meets entrepreneurial spirit, and where great ideas find the resources to become global solutions.”

Al-Sowaid continued, “Qatar today stands as a launch pad for innovation, connecting visionary entrepreneurs with unprecedented opportunities. Through platforms like Web Summit, we’re actively shaping the future of global innovation and establishing Qatar as the natural home for transformative ideas in the region and beyond.”

The latest Runway to Web Summit gathering in Qatar also spotlighted the contributions of Qatari startups through a panel where founders shared their journeys, challenges, and goals.

After attending as startups at the inaugural Web Summit Qatar in 2024, SkipCash, a QR-based mobile payment app, and Wqtah, a platform for booking local experiences, are returning as partners for the 2025 event. Both shared how participating in last year’s event influenced their development and prepared them for future opportunities.

Web Summit Qatar 2025 is set for February 23–26.

The post Honestly, We Can’t Wait for Web Summit Qatar 2025 — Paddy Cosgrave appeared first on PC Tech Magazine.

Kampala Impact Day 2024, a hybrid event —will be held under the theme “Celebrating Innovation, Collaboration, and the Role of Investment Readiness in Scaling Social Enterprises Blended Finance” and bring together ecosystem players including social businesses/entrepreneurs, incubation hubs, investors, government, private sector, development agencies, CSOs, and the general public, etc. to collaboratively pave way for the future of Uganda’s social business startup ecosystem

Kampala Impact Day is redefining the entrepreneurial landscape by empowering entrepreneurs with tools and connections to drive sustainable growth. Rooted in the Triple Bottom Line principle—People, Planet, and Profit—the event aims to provide an inclusive platform for social entrepreneurs to drive meaningful change within their communities and beyond. Entrepreneurs will have the opportunity to exhibit their businesses, highlighting innovative solutions that address societal challenges while promoting environmental sustainability and economic growth. The event underscores the importance of collaboration among entrepreneurs, investors, and ecosystem leaders, fostering synergies that amplify impact.

One of the highlights of the day will be the Investment Readiness Masterclass, a tailored session designed to empower entrepreneurs with the skills and knowledge necessary to attract investment. This masterclass will delve into the nuances of the investment journey, from understanding different funding stages to crafting strategies for successful capital raising. By the end of the session, participants will have actionable insights and the confidence to navigate the complex landscape of investment, propelling their ventures toward scalability and growth.

Adding to the activities will be the pitching session, where six entrepreneurs will step into the spotlight to present their ventures to a panel of potential investors. With only three minutes to captivate the audience, these entrepreneurs will showcase their innovations, market potential, and readiness for investment. The stakes are high, as awards await those with the most compelling pitches, including recognition for innovation, teamwork, and business scalability. This competitive segment aims to inspire and reward excellence in social entrepreneurship.

The entrepreneurs that will be pitching include Ethan Bampeire; Founder of Neexa AI, Wendy Gloria Musiiment; Founder of Nile Chocolates, Steven Kavuma; Founder of Revmake, Doreen Jean Nsasiirwe; Founder of Westlink Delicacy API Group Limited, Emmanuel Twesigy; CEO and Co-founder; Everlend Agritech Limited, and Miriam Akoramazima; Founder of Glory Revolution Limited.

The day will culminate in a prestigious Awards Ceremony, celebrating excellence across various facets of entrepreneurship. From Best Branding and Excellence in Customer Care to Outstanding Entrepreneur of the Year, these accolades will honor individuals who embody creativity, resilience, and impact. These awards will not only spotlight entrepreneurial excellence but also inspire others to pursue impactful and sustainable business ventures.

1. Best Branding Award

This award will be given to recognize the entrepreneur who has demonstrated exceptional creativity in developing their brand, making it memorable and eye-catching for customers. This includes ensuring a perfect fit for selling in all markets, both locally and internationally, along with high-quality packaging that elevates the brand experience.

2. Excellence in Customer Care Award

This award will be given to the entrepreneur who has consistently delivered outstanding customer service. The recipient will have shown a strong commitment to serving the customers with a lasting experience that sets them apart.

3. Increased Awareness Award

This award will recognize the entrepreneur with the most compelling pitch deck, showcasing clear market potential, scalability, financial soundness, and a strong value proposition. The recipient of this award will be determined by a panel of judges after the pitching session.

4. Outstanding Entrepreneur of the Year Award

This award will be given to two entrepreneurs (female and male) who have shown exceptional performance in terms of business growth since the completion of the Sustainable Technology for Africa program (ST4A Program). The winners will have demonstrated innovation, resilience, impact, and a reliable communication base with Einstein Rising, serving as an inspiration to others, and making a significant contribution to their industry or community.

The post Einstein Rising, OVO to Equip Entrepreneurs for Investment Success at the 8th Annual Kampala Impact Day appeared first on PC Tech Magazine.

According to the International Centre for Industrial Transformation (ICIT), green financing refers to loans that support environmentally friendly activities and offer sustainable solutions within the green supply chain. A key focus of the forum’s agenda was around exploring opportunities in green energy financing, particularly for Small and Medium Enterprises (SMEs) with emphasis on how businesses can benefit from this type of financing.

David Birimumaso, the Acting Assistant Commissioner for Energy Efficiency and Conservation at the Ministry of Energy and Mineral Development, urged Ugandans to prioritize understanding consumer needs as a crucial step toward scaling up green financing options.

“It is important for sector players to continuously retool themselves to enhance their skills and products, ensuring they meet consumer needs and adapt to ever-evolving technology. This ensures that financing supports the delivery of high-quality services to the end user,” said Birimumaso.

Speaking on behalf of the Managing Director, Charles Kabanda, the General Manager of Retail and Microfinance at Centenary Bank, reiterated the importance of collaboration in driving the increased usage of green products and boosting their financing uptake.

“Today key individuals in the green finance sector have met to discuss ways to provide sustainable financing options across the entire green supply chain. Through our discussions, we have had a productive exchange of ideas on the opportunities available in green financing,” said Kabanda. “These conversations are vital for developing solutions that will strengthen the provision of green energy financing. At the heart of this agenda are SMEs and key actors within the green supply chain and our focus has been on how they can leverage such financing to grow their businesses while passing on the benefits to end users.”

Abdul Kyanika Nsibambi, the Manager of the Housing and Renewable Energy business at Centenary Bank, also called for more awareness of Green Financing to maximize its impact.

“Together with the African Guarantee Fund, we wanted to increase awareness of Green Finance Loans and funding to accelerate the growth of eco-friendly businesses. At Centenary Bank, we hold this discussion close to our minds and we have introduced affordable loans plus great rates for businesses to access these loans,” Nsibambi stressed.

The Green Finance Forum aligns with the mission and vision of Centenary Bank, which is committed to transforming lives by offering appropriate financial services in a sustainable and environmentally friendly manner.

The post Centenary Bank, African Guarantee Fund Building Awareness and Opportunities in Green Finance appeared first on PC Tech Magazine.

“We’re delighted to welcome Raenest back as our headline partner for the seventh edition of ATS Nairobi,” said Andrew Fassnidge, Founder of Africa Tech Summit. “Our mission has always been to help ventures across the continent and beyond connect and scale, and Raenest’s commitment to empowering African businesses to manage global financial operations aligns perfectly with this.”

The seventh edition of Africa Tech Summit Nairobi which will powered by Raenest, will take place from February 12th to 13th, 2025, at the Sarit Expo Centre and is expected to gather over 2,000 industry leaders, corporates, investors and international delegation across Africa and globally.

Victor Alde, CEO and Co-Founder of Raenest sharing his thoughts on the renewed partnership, said, “We are thrilled to continue as the headline sponsor of Africa Tech Summit Nairobi. This platform is pivotal in celebrating African innovation and connecting the continent to the global economy.” He added “At Raenest, our vision is to empower African businesses and professionals by simplifying how they manage and move money globally.”

Raenest continues to redefine global financial management for African businesses and freelancers, providing innovative solutions that simplify cross-border transactions. Through its flagship platform, Geegpay, African professionals can easily open virtual USD, GBP, and EUR bank accounts, enabling them to receive payments from clients worldwide.

“With Raenest and Geegpay, we’re not just creating financial solutions, we’re building a bridge that enables Africa’s entrepreneurs, freelancers, and startups to thrive on the global stage,” Alde said in a press statement. “Being part of this summit allows us to amplify our impact and further support Africa’s dynamic tech ecosystem.”

Following the success of the past events, Africa Tech Summit Nairobi 2025 will feature four key track themes: Africa Money & DeFi Summit, Africa Climate Tech & Investment Summit, Africa Startup Summit, and the Africa Mobile & App Summit.

The summit will deliver a packed agenda of fireside chats, panel discussions, keynote addresses, and masterclass sessions, creating a platform for knowledge sharing and networking.

The event will also feature Africa Tech Summit Awards to celebrate outstanding achievements across the ecosystem. In addition, the Investment Showcase will be featured as well to connect startups with leading African and global investors.

Last year’s event saw a record 1,750 delegates and 800 companies from 64 countries convene, cementing Africa Tech Summit Nairobi one of the most vibrant and energetic cornerstone events of the African tech ecosystem.

The post Nigerian Fintech, Raenest Returns as Headline Sponsor for Africa Tech Summit Nairobi 2025 appeared first on PC Tech Magazine.

Themed “Shaping Uganda’s Digital Future: Bridging Skills, Innovation and Opportunity” the job fair provided a dynamic platform for participants to connect with potential employers, gain insights from keynote speakers, and explore the latest trends in technology. Tens of job opportunities and internships were showcased by leading companies in the ICT industry, including Huawei Technologies (U) Limited.

Rt. Hon. Robinah Nabbanja upon arrival, inspected the different exhibition booths from the different companies that were showcasing what they do and what opportunities they are offering to the youth in the ICT sector of Uganda. In her opening remarks, she highlighted the government’s commitment and prioritization of ICT in its development plans for the socio-economic transformation of the country.

“Through strategic investments in infrastructure, skills development, and innovation, we are creating an enabling environment for ICT to thrive,” said Rt. Hon. Nabbanja. “ICT remains one of the fastest-growing sectors globally, offering limitless opportunities and unlocking opportunities for economic growth, empowering our youth, and positioning Uganda in the global digital economy.”

Rt. Hon. Nabbanja applauded the Ministry of ICT and National Guidance and Huawei Technologies (U) Limited for organizing initiatives that aim to bridge the digital divide and skill mismatch gap to unlock the potential of our youth and build a robust ICT ecosystem.

Senior officials from the Ministry of ICT and National Guidance, and other government MDAs were present at the job fair. Hon. Dr. Chris Bayromunsi, the Minister of ICT and National Guidance in his keynote address pointed out that the ministry is charged with the mandate of driving digital transformation in the country and ensuring technology benefits all Ugandans. “We must invest in young people and make them an asset for the country, not a burden,” he said.

Adding to his remarks the Permanent Secretary Ministry of ICT, Dr. Aminah Zawedde said the ministry’s goal is to create at least 30,000 direct jobs related to the ICT sector. In addition, she said, “We are emphasizing innovation and interpretation to get solutions that address the challenges facing the country.”

See also: Gov’t launch ‘UBC Front Bench’ program to enhance public engagement, first episode hosts ICT Ministry

Chinese Ambassador to Uganda Zhang Lizhong said that ICT is a key driver to a country’s development. The industrial chain cooperation, one of the 10 partnership actions announced by China during the Summit of the Forum on China-Africa Cooperation held in September this year, includes plans for China and Africa to build a digital technology cooperation center and initiate 20 digital demonstration projects, he said. “With its continued growth, I believe the ICT sector can create more job opportunities for talented young men and women, greatly addressing their concerns and fostering digital inclusiveness,” Zhang said.

Deputy Managing Director of Huawei Technologies (U) Limited, Ssali Gao emphasized Huawei’s commitment to bridging the gap between education and the industry. “At Huawei, we believe technology is a bridge to opportunity. They say that thanks to technology, the world has become one small global village and I could not agree more,” he said —adding “Soon, technology and ICT will be the backbone of every industry in the world. This means that skilled personnel in these sectors will be highly needed.”

“This, ladies and gentlemen, is why we are attending the National ICT Job Fair 2024,” Gao ends his remarks.

Attendees directly met and engaged with leading Ugandan institutions in the ICT industry offering jobs, internships, and training exploring potential roles in software development, data science, network engineering, and cyber security, to mention but a few. The skills development and training workshops provided hands-on sessions led by experts from Huawei and other industry leaders which offered training in sought-after skills, including coding, digital marketing, resume writing, and artificial intelligence (AI) applications.

Furthermore, esteemed speakers and panelists from government, academia, and the private sector discussed trends, challenges, and future prospects in Uganda’s ICT landscape availing connections with ICT professionals, innovators, and peers to explore partnerships and collaborations.

The post The 3rd National ICT Job Fair Concludes Successfully appeared first on PC Tech Magazine.

The fair is focused on the need to empower the next-gen with digital skills, fostering an environment where innovation thrives and career opportunities in technology expand.

The event will feature leading ICT companies, startups, government agencies, and academic institutions, all to connect Uganda’s young professionals with transformative job opportunities in the technology sector. The fair will host a series of interactive activities, including:

1. Employer booths: Attendees will directly meet and engage with leading Ugandan institutions in the ICT industry offering jobs, internships, and training., exploring potential roles in areas such as software development, data science, network engineering, and cyber security.
2. Skills development and training workshops: Hands-on sessions led by experts from Huawei Technologies and other industry leaders will offer training in sought-after skills, including coding, digital marketing, and artificial intelligence (AI) applications.
3. Panel discussions, keynotes, and networking opportunities: Speakers from government, academia, and the private sector will discuss trends, challenges, and future prospects in Uganda’s ICT landscape availing connections with ICT professionals, innovators, and peers to explore partnerships and collaborations.

The ministry and Huawei are calling on the public to attend the National ICT Job Fair 2024 to shape the future of Uganda’s digital workforce and unlock endless opportunities in the world of technology. Students, recent graduates, and young professionals interested in ICT careers are encouraged to register early to secure their spot and stand a chance to win various Huawei devices and gadgets.

As a longstanding partner in Uganda’s digital transformation, Huawei Technologies continues to support initiatives that enhance the ICT talent ecosystem through the National ICT Job Fair, Huawei ICT Academy, and Huawei ICT Competitions.

The Minister for ICT and National Guidance, Hon. Chris Baryomunsi, has always recognized Huawei Technologies’ role in solving the unemployment question which he describes as “a big challenge” — noting that ICT plays a big part in solving the unemployment problem facing the youth.

“As the custodians of our nation’s development, it is our responsibility to provide our young people with opportunities that will not only empower them but also contribute to the growth of our country,” says Baryomunsi. “The ICT sector is pivotal in this endeavor. Investments in ICT infrastructure will propel this sector forward.”

Interested participants can register for the 2024-2025 Huawei ICT competitions (free via HERE). Similarly, the National ICT Job Fair 2024 is an excellent opportunity for youth to take the first step in building their ICT careers. The event is free to attend, but registration is required.

The post ICT Ministry, Huawei Launch the 3rd Edition of the National ICT Job Fair appeared first on PC Tech Magazine.

The first cohort of the blockchain innovation program was a collaborative effort led by the BSV Blockchain Association and local partner Capital Survey, which jointly brought together 50 promising young entrepreneurs from across East Africa. The 10-week program provided them with tools and knowledge to create blockchain-based solutions tailored to real-world challenges.

The core mission of the program was twofold: to introduce participants to blockchain technology and equip them with essential business skills. Through a mix of online learning sessions, hands-on meetups, and a hackathon, the 50 participants received a comprehensive education. The hackathon, in particular, proved to be a highlight, where participants pitched their ideas in a competitive setting —which saw LOWA emerge as the winning project —because of its innovative savings and investment platform leveraging blockchain to reduce transaction costs. Aimed at retail investors in Uganda’s capital markets, LOWA empowers micro-investing in government securities, equities, and real estate, all made possible by blockchain’s cost efficiencies.

The success of the first program demonstrated the potential of blockchain as a tool for economic empowerment. Notably, the blockchain landscape in East Africa saw a transformative initiative with the first cohort of the blockchain innovation program.

With a strong reception and significant interest generated, plans for the second cohort are already underway, promising an even larger and more impactful experience. The BSV Blockchain Association and its partners are committed to involving the private and public sectors, enabling more exposure and career opportunities for all participants, not just the winners.

The second blockchain innovation program will foster a vibrant blockchain ecosystem in East Africa, creating pathways for developers and entrepreneurs.

“The second edition of the blockchain innovation program is bigger and better,” said Edline Murungi, Vice President of the Blockchain Association of Uganda. “We call entrepreneurs, developers, and innovators to apply. She added, “If you have someone who you know who could be interested, please let them know.”

Beyond technical training, participants will receive guidance on business fundamentals such as company valuation, capital raising, and market entry strategies. By providing this holistic education, the program will ensure that young entrepreneurs can bring their ideas from concept to market—a crucial step in creating sustainable businesses that could drive local employment and economic growth.

The blockchain innovation program signals an exciting future for blockchain in East Africa —positioning the region as a hub for tech-driven solutions that address local challenges. By bridging the gap between technology and entrepreneurship, the blockchain innovation program is not only shaping the next generation of innovators but also laying the groundwork for a more connected and technologically adept economy.

Criteria to apply for the program;

• Foundational skills in data structures.
• Proficiency in programming languages such as Java, C++, Python, and JavaScript.
• Experience with building tech-centric solutions to real-world challenges.

The post Blockchain Association of Uganda Launches the 2nd Edition of the Blockchain Innovation Program appeared first on PC Tech Magazine.

Reginald Tumusiime, the Chairman of the Blockchain Association of Uganda said the summit is training focused on real-world applications, regulatory frameworks, and academic engagement.

The summit will bring together Uganda’s and Africa’s foremost blockchain advocates, policymakers, and business leaders to discuss insightful sessions on regulatory perspectives, technological applications, and blockchain’s role in Africa’s economic and technological future.

The Kampala Blockchain Summit builds on the progress and dialogue established during the influential 2019 Africa Blockchain Conference. Following in the footsteps of the conference—which brought together leaders like the President of Uganda H.E. Yoweri Kaguta Museveni, and the Governor of the Central Bank of Uganda; the Late Emmanuel Tumusiime-Mutebile —this year’s summit continues the momentum, featuring a keynote address by the Deputy Governor of the Central Bank of Uganda; Dr. Michael Atingi-Ego.

Keynote speakers and industry insights

This year’s summit will spotlight industry insights from prominent figures across sectors including Olivier Fines; Global Head of Advocacy and Policy Research at the CFA Institute EMEA, and Thomas Giacomo; Director of Utilisation for BSV Blockchain, both of whom bring international perspectives on blockchain’s impact on finance and policy. Local and regional leaders, such as Josephine Okui of the Capital Markets Authority and Fred Percy Kisa of the National Social Security Fund, will also share their expertise, reflecting Uganda’s collaborative approach to technology adoption.

The summit’s panel discussions promise to shed light on the regulatory, enterprise, and academic landscapes. In particular;

1. Regulatory Perspectives on Blockchain

Panelists, including Josephine Okui Ossiya (CEO of the Capital Markets Authority) and Cyrus Barigye (Director of ICT Systems and Security at the Financial Intelligence Authority), will explore how to align blockchain initiatives with Uganda’s regulatory frameworks.

2. Role of Academia and Development Finance

This session, featuring Dr. Dorothy Okello, Dean of Makerere University’s School of Engineering, and Fred Percy Kisa from NSSF Uganda, will discuss academia’s contribution to blockchain research and development finance’s role in enhancing adoption rates.

The discussions are geared towards understanding how regulatory guidance, academic research, and financial institutions can drive blockchain’s responsible adoption across Uganda.

Real-world blockchain applications on display

Reflecting the Blockchain Association of Uganda’s commitment to practical blockchain applications, the summit will showcase several projects that illustrate blockchain’s real-world utility;

• In the agriculture sector, blockchain will be presented as a solution for tracking coffee supply chains, providing transparency and traceability from farm to consumer.
• In finance, innovations in payments and asset tokenization will demonstrate how blockchain is revolutionizing transactions and investments in real estate and other asset classes.

With an emphasis on community-building, the Kampala Blockchain Summit will offer ample networking opportunities, connecting regulators, innovators, academics, and industry stakeholders. This environment aims to facilitate knowledge sharing, build partnerships, and foster collaborations that will support Uganda’s journey into the Fourth Industrial Revolution.

“Working with the Bank of Uganda, Capital Markets Authority, and other government entities has allowed us to bring blockchain technology closer to the mainstream,” said Tumusiime. “We envision this summit as a catalyst for increased engagement and adoption.”

Since the inception of the Blockchain Association of Uganda in 2018, the association has been instrumental in establishing Uganda as a regional hub for blockchain and emerging technologies. Under the recent leadership of Reginald Tumusiime, the Blockchain Association of Uganda has grown into a collaborative entity, partnering with key regulatory bodies such as the Financial Intelligence Authority and the Bank of Uganda.

Tumusiime envisions an expansion of the Blockchain Association of Uganda’s mandate, transitioning into an “emerging technologies association” that supports innovations beyond blockchain, including big data, artificial intelligence (AI), and robotics. “Our growth will be driven by the stakeholders we work with, and we aim to provide a platform for innovators to scale their ideas,” he said.

The post BAU Will Gather Blockchain Advocates at the Kampala Blockchain Summit to Catalyze Blockchain Adoption appeared first on PC Tech Magazine.

The summit which builds on the success of the 2023 Technology Information Confederation (TICON) Africa conference which highlighted Uganda’s potential in digital transformation and technological innovation —will press the need to solidify this position and address ongoing challenges in the ICT sector.

The two-day (ends tomorrow, Oct. 24th) summit which is being held under the theme “Economic Competitiveness through Strategic and Sustainable Digital Transformation” is serving as a neutral, collaborative platform for government officials, policymakers, innovators, and digital experts to explore how digital technologies can drive economic growth and the country’s economic development.

In his keynote, Hon. Kabbyanga said, “I commended ICTAU for its tireless efforts in advancing Uganda’s digital landscape and promoting impactful change in the ICT sector. Through the Ministry of ICT and National Guidance, the government remains committed to creating an enabling environment that supports digital innovation, promotes digital inclusion, and ensures cybersecurity.”

He added, “I’m excited to see Ministries, Departments, and Agencies (MDAs) here today. Your presence and input are vital to ensuring that the digital transformation agenda is inclusive and that policies around digital literacy, cybersecurity, and infrastructure development are implemented across all sectors.”

In her brief remarks, ICTAU’s Board Chairperson Ms. Elizabeth Ntege said Uganda’s ICT sector is on a path to generating more direct employment opportunities, enhancing livelihoods, and contributing significantly to the country’s GDP growth. “We are at a decisive stage in Uganda’s digital journey, where the role of ICT is no longer just an option but a critical driver of national competitiveness and social impact,” she said. “This summit is not only about discussing the future of technology but taking tangible steps to ensure Uganda leads in digital transformation across all sectors.”

Takeaways from the first days of the summit;

In a panel discussion on “Building and Interconnecting Africa’s Digital Backbone for Enhancing Economic Competitiveness through Scalable Infrastructure,” experts discussed the importance of building scalable digital infrastructure across Africa, spotlighting Uganda’s remarkable progress in data centers and fiber connectivity as critical building blocks.

Byaruhanga James, the Executive Director of Roke Telkom Uganda noted that on top of the data centers, fiber connectivity, and users, Uganda now needs cloud infrastructure. “As data stays within Uganda’s data centers, whether public or private, cloud solutions are critical to maximize this,” he said. “With announcements like the Azure Stack, we’re starting to see investment interest, but we could use even more global and public financing.”

On internet connectivity, Kyle Spencer, Executive Director of Uganda Internet Exchange Point (UIXP) revealed that the percentage of sub-Saharan Africa’s internet capacity linked to Europe since 2015 has dropped from 75% to around 60%, showing our success in originating traffic locally. He added, “Wholesale IP transit prices in Kampala are down to USD$2.50 (approx. UGX9,200) per megabit, a 30-33% drop in recent years. Our infrastructure and pricing are competitive with other regions in Africa.”

Patrick Okoth, Project Manager of Government Networks at NITA Uganda commended the Ministry of ICT and Nationa Guidance for facilitating policies and the new licensing framework, which has expanded infrastructure reach.

Local infrastructure is key,” said Badru Ntege, Director of NFT Consult.

The panelists while highlighting the need for cloud solutions to strengthen the country’s digital backbone, argued that these solutions are essential but underscored the need for more global and public financing to push for deeper, long-term investments that will facilitate growth and make technology more accessible.

The summit also revealed that Uganda’s Information and Communication Technology (ICT) sector has seen impressive growth, with the industry expanding at a rate of 14.8% annually. Employing over 2 million people, it stands as the country’s second-largest sector, trailing behind agriculture. Despite these successes, there is a widespread belief that the country has not yet fully tapped into its potential, particularly in scaling local content creation and expanding the infrastructure necessary to connect Uganda’s 48 million citizens.

“We need to create local content, ensure it circulates within our ecosystem, and connect all 48 million Ugandans before we focus on regional connectivity,” said Ntege.

The country’s progress in this area is encouraging, but there is still significant room for growth, especially in rural and underserved communities.

In his remarks, H.E. Upender Singh Rawat, High Commissioner of India to Uganda while drawing comparisons to India’s booming ICT sector which is expected to reach USD$500 billion in revenue by 2030, said “Indian firms like PSL Uganda and Tata Consultancy Services are key partners in Uganda’s digital transformation, introducing advanced technologies and best practices to strengthen the country’s ICT infrastructure and innovation.”

H.E. Upender emphasized the importance of developing local laws tailored to support digital competitiveness and innovation. By creating a legal framework that addresses the needs of the creative and tech industries, Uganda can foster a more robust digital economy.

There was a strong consensus that the digital economy is a major catalyst for socio-economic growth. However, more efforts are needed to ensure inclusivity. Uganda must focus on blending digital infrastructure with tools and skills, particularly in underserved communities, to bring opportunities closer to the people. The pathway to digital transformation lies in connecting these communities, equipping them with the necessary digital resources, and creating policies that drive private investment. Through these actions, Uganda can unlock its untapped potential and lead the region in digital innovation.

In a panel session, “Financing and Investment Strategies for Building Africa’s Scalable Digital Infrastructure,” the panelists discussed the importance of leveraging regional and international partnerships to bridge the continent’s digital divide. Africa’s growing population and increasing digital penetration demand robust infrastructure, but funding gaps remain a significant challenge. They underscored the need for innovative financing models that consider the unique challenges and opportunities in African markets, including the need for scalable solutions that adapt to varying regional demands.

Ajay Ramasubramaniam, CEO of StartupReseau and Co-founder of Hindsight Ventures, said “Innovative financing often focuses on customer-facing elements, but the core principles in finance remain unchanged.” He added, “When it comes to infrastructure, whether hard or digital, we need to consider all revenue opportunities, from toll roads to digital platforms that leverage data for long-term gains.”

Adding to Ajay’s remarks, Paul Mugwanya, Executive Head of corporate and Investment Banking at Stanbic Bank Uganda said innovation in finance remains stubbornly slow.

“The core principles of risk allocation have barely changed in over a century, but we’re seeing shifts in how risk is distributed,” notes Mugwanya. “Governments are now working to shift some risks like political and post-crisis risks to the private sector. This is essential for encouraging investment in large-scale infrastructure projects, where the private sector often hesitates to take on the full burden.”

Delegates experienced hands-on demonstrations of emerging technologies such as artificial intelligence, virtual reality, digital healthcare, fintech, etc.

The post The Inaugural ICT National Summit Under Way at the Kampala Serena Hotel appeared first on PC Tech Magazine.

In one of the panel discussions, an interesting topic, “Pathways to Funding for Fintechs” was discussed. During the session two seasoned founders; William Luyinda; CEO of Ezy Agric and Eng. Chrispius Oyancha; CEO of ClinciPesa, and Brenda Amony; Portfolio Relationship Manager, Deal Flow Facility at FSD Uganda, gave insights on the art of fundraising.

Securing funding for a startup is one of the most critical steps for a startup to succeed. However, raising funding is very challenging.

“Securing financing is a critical step in scaling a startup. However, determining the right type of capital for your startup can be challenging,” says Eng. Chrispius Oyancha; CEO of ClinciPesa.

The key to securing funding is to strategize properly on revenue sources to pursue, understand the unique challenges and risks of the fintech industry, and ensure compliance from the outset. Suppose founders have the right preparation and a solid pitch. In that case, they can attract investors who not only provide capital but also understand the industry and can help push your startup forward.

Firstly, it’s better to understand the unique landscape of fintech funding. Unlike other industries, fintech startups are in a highly regulated space. Fintech startups rely on a maze of financial regulations and compliance standards —this will influence how investors regard them.

Luyinda and Oyancha shared insights into the type of capital, understanding the role of fundraising, picking the right investors, persistence & resilience in fundraising, etc., that founders should consider when seeking funding.

Selecting the right capital for your startup

When selecting capital for your startup, it’s important to understand its cost and how it will affect your business in the long run. “All forms of capital have pros and cons so don’t rush. Take time to understand what comes with what and evaluate which one to go with based on your objectives,” said Oyancha. He warned founders to be cautious of the terms set by investors, as desperate founders may find themselves tied down by unfavorable conditions.

Founders can select between equity investment, debt capital, sweat equity, grants, etc., to fund their startups. Oyancha says equity may dilute ownership but can provide the necessary growth capital, whereas debt retains ownership but requires steady cash flows. “Debit is a cheaper and more affordable source of capital for startups in fintech or technology compared to equity,” he said. “In the early stages, grants may be the best option.”

Adding to Oyancha’s remarks, Luyinda said when it comes to raising equity, it is important to think about the long-term effects on ownership. “If a founder raises USD$500,000 (approx. UGX1.8 billion) in exchange for 10% equity, they must consider how this dilution will impact their stake in the company as they grow,” he said.

Luyinda also pointed out that while grants may seem like an easy and “free” form of capital, they come with their challenges. He cautioned that grant funding, while helpful, often requires a long time to mature and may not always align with a company’s focus. Especially in challenging ecosystems like Uganda, where access to capital is limited, founders are often tempted to chase after any available grant, even if it doesn’t fit their core strategy. He said the key is to ensure that the grant aligns with the business’s long-term vision —calling on founders to resist the temptation to pursue every available funding opportunity and instead focus on those that align directly with their goals.

Understanding your role in fundraising

Fundraising is a complex process. “No matter how much support founders receive from transaction advisors or other experts, they must remain at the center of the process,” said Luyinda. He noted that founders must understand how to structure funding and how different funding sources such as debt, equity, grants, etc., impact the business. For instance, understanding cash flow and how debt in different currencies will affect the bottom line is essential for making informed financial decisions.

Picking the right investor

A common mistake many founders make is partnering with investors who do not align with their business model or industry. “It is crucial to seek investors who have experience in your sector,” says Luyinda. An investor unfamiliar with e-commerce will likely fail to grasp important metrics such as customer acquisition cost, retention rates, or lifetime value (LTV). These metrics are essential in evaluating the potential of an e-commerce business. Without this understanding, the investor may undervalue the startup or make unreasonable demands that do not reflect the business’s true worth.

“Choosing the wrong investor can lead to misaligned expectations. A founder must strive to find someone who can recognize the value in their business and negotiate a fair middle ground,” says William Luyinda; CEO of Ezy Agric.

One powerful takeaway from the conversation was the importance of persistence in fundraising. In most cases, the majority of investors founders pitch to will say no, however, Luyinda and Oyancha noted that eventually —they will find an investor who shares the founder’s vision. “From the majority, founders only need one “yes” to move forward,” said Luyinda. “Once that connection is established, the rest of the process becomes much smoother.”

Oyancha also noted that persistence is key —as the process of closing the deal is usually lengthy and can span years. “You need patience, as closing a deal can take years —over three plus years,” Oyancha noted.

Board structure

Another key discussion revolved around the composition of the board. Equity investors often demand to be on the company’s board. Luyinda and Oyancha share a hard-earned lesson: “Not every investor is equipped to serve on a board.” They said many investors may have advanced degrees or business credentials, but they might lack the practical experience to build the startup from the ground up. This lack of understanding can create friction.

To avoid these challenges, they said ensuring that at least one board member has real entrepreneurial experience is vital. “Having a former founder or experienced business leader on the board can help bridge the gap between the entrepreneur’s vision and the investor’s expectations,” Luyinda explained. “This individual can empathize with the challenges of scaling a business, hiring a team, and implementing complex processes, all while providing valuable insights that align with the founder and investor perspectives.”

Fundraising is an art that requires strategy, patience, and an intimate understanding of both the business and the investor landscape. Founders must take the time to ensure they are speaking to the right investors, structuring deals that make sense for their long-term vision, and building a board that can provide both guidance and empathy. By focusing on these key areas, they can navigate the fundraising journey more effectively and position their businesses for long-term success.

The post The Art of Fundraising: Insights From Seasoned Founders appeared first on PC Tech Magazine.