Fintechs

Uganda Received USD 1.3bn in Remittances from its Diaspora in 2022 According to the World Bank.

by Jonathan N. LubwamaAfricaEast AfricaFinanceFintechsGlobal NewsIndustry & AnalysisNews & AnalysisStartupsSeptember 28, 2023September 28, 2023

In 2022, Uganda received USD 1.3bn in remittances from its diaspora community according to a World Bank and KNOMAD report. This would account for about 4.5% of Uganda’s GDP and…

Chipper Cash CEO, Ham Serunjogi, Appointed to the Advisory Council for African Diaspora Engagement by US President Joe Biden. 

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 27, 2023September 27, 2023

Ham Serunjogi, the co-founder and CEO of Chipper Cash, a fintech company that facilitates cross-border payments, remittances and wealth management in Africa, has been chosen as one of the inaugural…

ESO AVODA Launches the Business Growth Accelerator Program to Help Ugandan Businesses Expand to Kenya.

by Jonathan N. LubwamaEast AfricaFintechsICTIndustry & AnalysisSeptember 27, 2023September 27, 2023

Uganda is often called a small market. Despite having a population of over 40m, the purchasing power is relatively low. As a result, it is imperative for startups and other…

CEO East Africa Explains: The Startup Playbook. How Startups Are Built.

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 20, 2023September 20, 2023

Building a startup is an endeavour that is as challenging as it is rewarding. It is a journey that is fraught with uncertainty, risk, and the potential for failure. The…

How Ugandan Startups Can Reduce Burn Rate and Increase Runway Amid a Global Funding Winter. 

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 19, 2023September 19, 2023

In venture capital, a ‘funding winter’ denotes a prolonged period marked by reduced capital inflow, posing formidable challenges for startups seeking investment. During this financial downturn, startups often contend with…

Kenya Dominates PE and Venture Capital Funding in East Africa in the Last Decade, Uganda a Distant Second.

by Jonathan N. LubwamaFinanceFintechsICTIndustry & AnalysisNews & AnalysisStartupsThe Big StorySeptember 15, 2023September 15, 2023

The East African Venture Capital Association (EVCA), a body that represents private capital providers including development finance institutions (DFIs), private equity and venture capital funds, family offices and impact investors…

Ugandan Fintech, Emata, Raises $2.4m to Expand its Agri-loan Services to East Africa

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 14, 2023September 14, 2023

Emata, a pioneering fintech and microfinance firm based in Uganda, has successfully secured $2.4 million in a seed funding round. The funds, which include $800,000 in equity and $1.6 million…

BNPL Startup, Lipa Later Raises USD 5m, Targets a Further USD 20m.

by Jonathan N. LubwamaEast AfricaFinanceFintechsICTStartupsThe Big StorySeptember 13, 2023September 13, 2023

Kenyan fintech powerhouse, Lipa Later Group, has successfully raised $5 million in a private debt issuance, marking a significant milestone in its financial journey. However, the company’s ambitious expansion plans…

Only 71% of Investors Get Regular Investor Updates from Portfolio Startups in Africa

by Jonathan N. LubwamaFintechsICTStartupsThe Big StorySeptember 12, 2023September 12, 2023

Startups need funding to grow at a speed that they want. This funding usually comes in the form of venture capital which is raised from VC firms, angel investors and…

Lipa Later Embarks on Ambitious $1.24M Raise in a Global Crowdfunding Campaign.

by Jonathan N. LubwamaFintechsICTNews & AnalysisStartupsSeptember 7, 2023September 7, 2023

In a significant development for the African fintech sector, Lipa Later, a leading fintech platform, launched a global crowdfunding campaign after securing regulatory greenlight in the USA. The company aims…