Killer Analytics, a Ugandan tech start-up, was named the winner of the ‘Face the Gorillas’ competition at the Transform Africa Summit held in Kigali, Rwanda. The event that was concluded on 12th May 2017 saw a host of many start-ups compete for the same prize. Killer Analytics, with their solution ‘Smart Credit’ thus emerged the best. The company, led by Fred Otim offers a software platform that analyses and processes SME transactional data to individualized credit data and financial statements. Killer Analytics team received Ugx360m investment at the Summit. Platforms like Smart Credit if adopted will improve business sustainability…
BATU’s profit declines by 20% in 2016
On 10th May 2017, British American Tobacco Uganda (BATU), the makers of Safari and Sportsman cigarettes, reported a 20% decline in its net profits to Ugx 7.8 billion in 2016 down from Ugx 9.8 billion in 2015, hurt by a 7% and 13% decline in cigarette volumes and revenues respectively. At its 17th Annual General Meeting (AGM) held on Wednesday 10th May 2017, the board of directors recommended a final dividend of Ugx159 per share which was absconded by the company’s shareholders at the same AGM. Mr DadsonMwaura, the BATU managing director noted that “despite the decline in profits, the company’s…
Massive cyberattack targeting 99 countries
Hospitals, major companies and government offices have been hit by a massive wave of cyberattacks across the globe that seize control of computers until the victims pay a ransom. Cybersecurity firm Avast said it had identified more than 75,000 ransomware attacks in 99 countries, making it one of the broadest and most damaging cyberattacks in history. Avast said the majority of the attacks targeted Russia, Ukraine and Taiwan. But U.K. hospitals, Chinese universities and global firms like Fedex (FDX) also reported they had come under assault. Europol said Saturday that the attack was of an “unprecedented level and requires international investigation.” The ransomware, called “WannaCry,”…
Deepening African Integration: Intra-Africa trade for increased revenue collections
On 1st May 2017, President Museveni was in Paliisa District for Labour Day celebrations. On the 2nd May 2017, he officially opened the ACOA 2017 Accountants’ conference at Speke Resort Munyonyo. If goods moved around the region with as much urgency as President Museveni, African economies would be reaping off. KunioMirukiya, the secretary general of World Customs Organisation Africa notes that “infrastructure and borders systems are key in facilitating movement of goods and people. Customs should coordinate border management, have one stop border post or a single window and more security by collaboration is what Africa should be looking at.”…
Rethinking insurance: Mustapha’s keynote at the Insurance CEO’s forum
What is the unoccupied space in the insurance sector? As a CEO, do you move around trying to take on occupied spaces and struggle with the person to unseat them? Or you move around, identify, settle and take control of the unoccupied seats? I don’t know about you. When I was still young, I loved playing football. Now I just watch it. At the playground, I occupied the striker position – no.9. Football is a simple and beautiful game. The rules are clear; score as many goals and do not concede. If you look at football and the insurance sector…
Transforming Moroto: my vision for Karamoja region
The culture is great. The people are exceptional. And the surprises are many. If you are a leader from Karamoja, what would be your vision? How would you transform Karamoja into a modern enterprise? All leaders have grand aspirations for growth. You need electric power. Piped water. Great roads. And all infrastructure for growth. But mere wishing is cheap. Even a primary kid dreams of flying inan airplane one day. As a leader, you must think in reality mode. Dream big but within context of the current realities. One of the biggest challenges of Karamoja, just like other regionsof Uganda,…
