By Our Reporter In Africa, the sources of business capital are usually personal funds, family, friends and loans. The first three are usually the ideal sources while the fourth is the most realistic. As such access to affordable and readily available credit is key to the success and sustainability of businesses. Big and well-established businesses […]
By Our Reporter One of the biggest challenges faced by Ugandan migrant workers working in the Diaspora is money remittance. The cost of sending money is very high, ranging between five and ten dollars for transferring little amounts. On top of this, many have been defrauded of their hard-earned money – sometimes by their own […]
By Our Reporter Many Ugandans are full of business ideas but their biggest bottleneck is the lack of capital and inability to access credit. For a financial institution to give your business a loan, they will ask for a trading license, national ID, bank statement, tax report among others.They therefore get stuck in the informal […]
Almost everyone has ever received a phone call or text with the person on the other side saying that s/he has an emergency and urgently needs financial assistance. Such communication takes a lot of guts, and somewhat courage on the side of the requester because reaching out for help is never a guarantee that you […]
Anyone doing business in Uganda will tell you that paying rent is one of their biggest nightmares. Whether you have made profits or not; whether you have spent the month sick or away attending to a patient, or whether you were in a Covid-19 lockdown; the landlord will always want their rent paid in full […]
Many young corporates harbor dreams that would satisfy their heart’s desires. They would like to have nice cars, trendy phones, beautiful TV sets, durable furniture, name it! But their meager salaries are only enough for the daily essential needs. So, they keep dreaming!However, PayLater Uganda has come to make these dreams a reality by introducing […]
The past two years of the Covid-19 pandemic literally placed everyone in their right place – for both good and bad reasons. On the bad side; businesses closed, people lost jobs, families were broken, education stagnated and the economy crumbled. Like they say, in every challenge, there is always an opportunity. The pandemic, especially the […]
With the worsening economic situation in the country, on top of the effects of the Covid-19 pandemic, most Ugandans have resorted to seeking short-term loans from friends and family to make ends meet. But this is an unsustainable scenario because even those friends are struggling too, trying hard to survive with the little they have.And […]
When Uganda was put into a total lockdown in March 2020 due to the outbreak of Covid-19, my stylist’s hair salon came to a grand halt. She was forced to close business six months later because she could not afford to pay the rent arrears demanded by her landlord despite the fact that the salon […]
Away from its negative consequences, the COVID-19 pandemic was an eye-opener to individuals and businesses. It brought the role and overall importance of digital financial services (DFS) at the forefront.Further, the pandemic opened opportunities for Financial Technology companies (FinTechs) to come up with innovative solutions that have since transformed the way people make and receive […]
