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Unlocking Uganda’s financial future: Embracing mobile money for prosperity

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Cashless economies – where transactions are done using digital payments instead of cash – are gaining
momentum across the world. This has been supported by enormous investments in digital payment
infrastructure such as mobile money platforms, making it convenient for people and businesses to buy
and sell products and services digitally.
Indeed, Uganda has witnessed a faster growth in mobile money transfers surpassing account holders in
commercial banks. Latest data from the industry regulator, Uganda Communications Commission,
indicates that the total number of registered mobile money accounts stands at slightly above 37.3
million since MTN Uganda first rolled out the service more than a decade ago.
In contrast, the number of bank accounts stands at a paltry 20.7 million as of June 30, 2022. This is less
than 50% of the country’s population estimated at 45.5 million. This underscores the power of fintechs
especially mobile money in driving financial inclusion, especially among the unbanked population.
However, the population’s transition towards cashless payment with great innovations such as mobile
money has remained low.
This is the reason MTN Mobile Money Uganda Ltd is carrying out a campaign dubbed “Pay with MoMo,”
to encourage customers and merchants to pay and accept products and services including transferring
money, paying bills, and performing various mobile phone transactions using digital money.
Fintech, particularly mobile money, emerges as a transformative force that can bridge the gap and
empower the unbanked population.
One of the foremost advantages of transitioning towards a cashless economy is the enhanced security it
offers. With digital transactions, the risks associated with physical cash, such as theft, counterfeit
currency, and loss, are dramatically reduced.
The transparency of electronic payments creates a traceable record of transactions, facilitating the
detection and prevention of fraudulent activities. This heightened level of security not only safeguards
the assets of individuals but also bolsters confidence in the financial system.
Furthermore, a cashless economy brings undeniable efficiency and convenience to both businesses and
individuals. Digital transactions are processed swiftly, eliminating the time-consuming burden of
handling physical cash. The ability to make payments and access funds through mobile phones or
electronic devices at any time and from anywhere enhances financial inclusivity and empowers
individuals to participate more actively in economic activities.
Cost savings and economic growth are two other compelling reasons for countries like Uganda to
embrace mobile money and reduce reliance on cash. The expenses related to the management of
physical cash, including security, transportation, and storage costs, can be significantly minimized. These
savings can then be redirected towards critical sectors of the economy, promoting sustainable growth
and development. Furthermore, a cashless economy facilitates faster and more efficient transactions,
which can stimulate economic activities and drive overall prosperity.

However, the transition to a cashless economy in Uganda is not without its challenges. Limited
infrastructure and connectivity in far remote areas pose significant obstacles. Addressing this issue
requires concerted efforts from telecom companies like MTN to expand network coverage and enhance
connectivity in underserved regions. Additionally, educating and training individuals in these areas on
how to effectively use mobile money services is crucial to ensure that the benefits of a cashless
economy reach everyone.
Building trust and increasing awareness about the security and advantages of digital transactions are
also paramount. Initiatives like MTN MoMo’s educational campaigns and community partnerships are
playing a big role in overcoming these concerns. By fostering financial literacy and awareness, these
efforts are gradually breaking down barriers and making people more comfortable with embracing
mobile money as a means of financial empowerment.
As such, the transition towards a cashless economy, driven by mobile money transfers, holds immense
significance for Uganda. It not only enhances security, efficiency, and convenience but also offers cost
savings and the potential for economic growth.
While challenges exist, the concerted efforts of both public and private sectors, as exemplified by MTN
MoMo’s initiatives, are paving the way for a more inclusive and prosperous financial landscape. As the
mobile money ecosystem continues to evolve, Uganda is on the path to unlocking the full potential of a
cashless economy, bringing financial access and empowerment to its people.

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AWARDING CEREMONY OF THE HUAWEI ICT INNOVATION CUP FOOTBALL TOURNAMENT 2024

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The Huawei ICT Innovations Cup Football
Tournament 2024 concluded in spectacular fashion as MTN Uganda emerged
victorious over Huawei Technologies Uganda Company Limited in a thrilling final
held at Kampala International School Uganda football grounds on Saturday 20 th
July, 2024. The dramatic match ended with a score of two goals to one,
highlighting the skill and determination of both teams.

The awarding ceremony that followed was a grand celebration of talent and
sportsmanship. The Chief guest, Dr Aminah Zawedde, The Permanent Secretary
Ministry of ICT and National Guidance and other distinguished guests including
The Undersecretary Ministry of ICT and National Guidance Ms. Sophia
Nantongo, Chief Marketing Officer MTN Uganda, Mr. Sen Somdev, Huawei
Technologies Uganda Managing Director, Mr. Sunrise Xie, were present to honor
the achievements of the teams and players. The coveted Huawei ICT Innovations
Cup trophy was presented to MTN Uganda by the chief guest amid a shower of
confetti and cheers from the crowd.

The Chief Guest, Dr. Aminah Zawedde, Permanent Secretary Ministry of ICT and
National Guidance graced the cheerful event. She congratulated MTN Uganda
for the well-deserved win and extended her heartfelt gratitude to all the teams,
players, coaches, and supporters who came together to make the tournament
possible. She appreciated Huawei Technologies Uganda Co. Limited for
organizing the football tournament which is in alignment with the efforts of the
Government of Uganda to address the growing burden of lifestyle diseases. Dr
Aminah also appreciated the opportunities presented for the technical officers
in the ICT sector to meet in a different environment to network, exchange ideas

and grow their connections. She closed by urging all members present to stay
innovative. “Innovation knows no boundaries, so let’s innovate in the field
sports just as Huawei has done by organizing this tournament and I hope it
becomes an annual event” said Dr. Aminah

Mr. Sunrise Xie, Managing Director of Huawei Uganda office in his remarks at
the awarding ceremony emphasized the importance of cocurricular activities for
the stakeholders in the ICT industry. The tournament transcended the
boundaries of a mere sports match; it was a vibrant platform for the ICT sector
to forge connections, exchange insights, and foster collective growth. “Your
passion and commitment have brought excitement and joy to all of us. Each
match was a testament to your hard work, and each goal a highlight of your
talent.” said Mr. Sunrise Xie. He thanked each team for being part of this
extraordinary journey and appreciated them all for the exceptional performance
and sportsmanship exhibited.

The players representative, Mr. Luyonde Henry from Airtel Uganda thanked
Huawei Technologies Uganda for a well-organized tournament and the
opportunity for Airtel Uganda to participate in such an activity. He congratulated
his team for making it to the semifinals of the tournament and the spirited
display of teamwork that brought Airtel Uganda thus far in the competitions. He
went to add “We have seen fierce competition, but we have also seen players
helping each other up, teams congratulating their opponents, and fans coming
together in their love for the game.”

The tournament awarding ceremony kicked off with a thrilling game between
Ministry of Health and Airtel Uganda to determine the 2nd runners up which set
the spirit of competition. The game was marked by intense action and strategic
play from both sides but in the end, victory belonged to Ministry of health after
scoring three goals to one. MTN Uganda later took on Huawei Technologies
Uganda Company Limited in an ambitious and action-packed game which ended
MTN 2 – Huawei 1. Overall, it was a gripping match showcasing the skill and

determination of both teams. The tournament was launched of 8th June, 2024
by the Minister of ICT and National Guidance Hon. Dr. Chris Baryomunsi and run
over a couple of weekends till the final and awarding ceremony.

Huawei Technologies Uganda Co. Limited organized the first ever Huawei ICT
Innovation Cup Football Tournament as a means of encouraging physical activity
to combat desk-bound lifestyles by bringing together different enterprises from
both the public and private sectors for a spirited display of team work and
friendly competition on the football field. The tournament also aimed at
fostering social networks and sportsmanship by bringing together Ministry of ICT
and National Guidance, Uganda Communications Commission, National
Information Technology Authority-Uganda, MTN Uganda and Huawei
Technologies Uganda Co. Ltd in group A. While group B consisted of Uganda
Police Force, Ministry of Finance, Planning and Economic Development, Uganda
Revenue Authority, Ministry of Health and Airtel Uganda.

Some of the other awards won included, Fighting Spirit Award-Ministry of
Finance, Planning and Economic Development. Best Organizer Award-Uganda
Revenue Authority, Fan's Favorite Team-Ministry of ICT and National Guidance,
Most Entertaining Team-MTN Uganda, Future Star Award-Airtel Uganda,
Corporate Pioneer Award-National Information Technology Authority – Uganda,
Team Spirit Award-Uganda Communications Commission and the Community
Involvement Award-Uganda Police Force. Most Valuable Player-Bruce Mushabe
of MTN, Golden Boot Award-Jose of MTN, Golden Glove Award-Isaac Opiini of
Huawei and the Best Coach Award-MTN Coach.

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Business

Ntoroko Edges Kyaka in Thrilling Tooro Kingdom MTN Masaza Cup

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Agripping showdown at the Humura playground in Kyegegwa district, Ntoroko County FC
secured a narrow 1-0 victory over Kyaka County FC, knocking them out of the Tooro Kingdom
MTN Masaza Cup. Kaswara Ason's decisive 34th-minute goal, the only score in an entertaining
game filled with missed opportunities, sealed Kyaka’s fate in the tournament.
Kyaka FC started the match on a strong note, with Frank Asiimwe showcasing his skills early
on. His solo run in the opening moments set the stage for multiple chances, though none found
the back of the net. Despite their spirited performance, Kyaka couldn't convert their dominance
into goals.
The game, played under challenging weather conditions due to a heavy downpour, saw
moments of high drama. Thomas Mugisa, making his tournament debut, posed a constant
threat. His appeals for a penalty in the 81st minute after a challenge from Ntoroko defender
Michael Bwamble were, however, waved away by the referee, adding to Kyaka’s frustrations as
they hunted for an equalizer.
Ntoroko's victory ensured their spot in the semifinals, joining Burahya, who also advanced as
the best losers of the group stage. Ntoroko County Member of Parliament, Gerald Rwemulikya,
praised his team for their resilience and performance. "Kyaka was at home and they created
many chances. This was our first time playing at Humura playground, but we managed to get a
well-deserved win. I want to congratulate my players and wish them luck in the next stage,"
Rwemulikya said.
Elsewhere in the tournament, Kyaka County became the fourth team to be eliminated, following
Kitagwenda, Kibaale, and Mwenge North. Their exit left the Kyaka county supporters in silence,
contemplating what might have been.
Tooro Kingdom's sports minister, Wandera Michael Enganjani, highlighted the broader
significance of the annual sports tournaments. "These tournaments are meant to promote
talents and fight against HIV/AIDS, which is very high in Fort Portal according to a Uganda AIDS
Commission survey," he said. Enganjani commended MTN Uganda for their continuous support
and promised unwavering cooperation in future events.
Aggrey Byaruhanga, MTN's regional marketing officer, reiterated the importance of health and
safety among the participants and supporters. "I appeal to Tooro Kingdom subjects to continue
testing for HIV and using condoms if they cannot abstain," Byaruhanga stated.
Looking ahead, the Tooro Kingdom MTN Masaza Cup will feature a clash between Fort Portal
City and Bunyangabu County next Sunday at the King Oyo Sports Complex in Bukwali at 3 PM.
The Tooro Kingdom MTN Masaza Cup continues to deliver thrilling football action, with
community engagement and health awareness being vital components of the event's mission.

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Huawei provides a preferred hybrid cloud to accelerate industry intelligence for Africa

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[Johannesburg, South Africa] Huawei recently announced the launch of its Huawei Cloud Stack 8.3
offering at the Huawei Africa Connect 2024 conference in Johannesburg, South Africa.

The launch of the offering was announced in a keynote speech delivered by Hu Yuhai, Vice President
of Huawei Hybrid Cloud. Titled, "Leap to Cloud to Accelerate Industrial Intelligence", the speech also
saw Hu provide details on how Huawei Cloud Stack provides trusted cloud infrastructure, innovative
cloud service abilities and extensive industry know-how to help government and enterprise
customers in Africa accelerate cloud adoption.

In line with this, Huawei Cloud has ramped up investments in Africa to support the continent's
development into an intelligent digital hub. The journey began in 2018, with the launch of Africa's
first public cloud region of Huawei Cloud in Johannesburg, South Africa. This was followed by a
significant expansion in June, 2024, with the launch of Northern Africa's first public cloud region of
Huawei Cloud in Cairo, Egypt. Huawei Cloud has been recognised as one of the fastest-growing cloud
providers in the world.

"Huawei Cloud strives to be the preferred cloud for intelligent transformation,” said Hu. As per our
mission statement of being, ‘In Africa, For Africa’, we are ready to work alongside our customers and
partners with better technologies, industry solutions, and ecosystem resources."

Press Release

Hu Yuhai, Vice President of Huawei Hybrid Cloud

Huawei’s expanded cloud activity reflects the fact that government and enterprise customers in
Africa are keen to embrace intelligent and digital transformation. Huawei Cloud is dedicated to
offering an industry-leading hybrid cloud solution, empowering customers to spark cloud innovation.
Huawei Cloud Stack 8.3 boasts a wide array of enhanced cloud services and features to provide a
trusted, more resilient cloud native foundation. It boosts innovation in the following key areas and
making new technologies locally available as fast as possible:
 Trusted cloud infrastructure: Huawei has continuously invested in foundational software and
hardware technologies alike, has established secure, reliable, and open cloud native infrastructure,
and provides green, low-carbon IT hardware and data center infrastructure. Huawei aims to lay a
robust foundation for digital transformation in Africa.
 Innovative cloud service abilities: Huawei leverages data and AI technologies to provide
numerous cloud services, aiming to help customers unleash the value of data and enhance data
sovereignty.
 Extensive industry know-how: Huawei provides a series of professional services, covering
high-level design, service planning, implementation, and deliveries, based on robust experience from
numerous global projects. Huawei looks to work with more industry partners to help customers
accelerate intelligent and digital transformation.

In Africa, For Africa: Huawei Cloud Stack accelerates industry intelligence for Africa with three
strengths

During the conference, Huawei also held its "Leap2Cloud"event, which attracted more than 300
enterprise executives and IDC experts customers from diverse sectors like government, finance,
transportation, and energy in Sub-Saharan Africa. They came together to share their insights and
collaboratively explore pathways for a leap to the cloud.

During the event, Bai Yan, Vice President of Huawei Cloud for the Southern Africa Region, delivered a
keynote speech titled, "Huawei Cloud Stack, the Preferred Cloud for Africa Industry Digitalisation."

"As industry customers drive forward with cloud adoption and intelligent transformation, they
encountered certain challenges, such as unforeseen issues with submarine optical cables, inefficient
methods of acquiring cloud resources, and concerns over data sovereignty,” he said. “Huawei Cloud
Stack helps them address these challenges with three strengths. It provides on-premised, reliable

Press Release

and secure cloud infrastructure, as well as offers an extensive suite of over 110 cloud
services—unmatched in the industry—alongside a diversified partner ecosystem. All these are
designed to help government and enterprise customers in Africa accelerate industry intelligence."

Bai Yan, Vice President of Huawei Cloud for the Sub-Saharan Africa Region

Huawei Cloud is eager to enhance cooperation with industry customers and partners to develop
scenario-specific solutions tailored to industry needs in Africa and create a thriving local digital
ecosystem together.

"Digital transformation is currently experiencing an exponential growth,” said Xiao Yi, President of
Huawei Cloud’s Global Ecosystem Solution Department. “We are stepping into the era of intelligence.
Huawei Cloud looks forward to joining hands with African partners to build a new foundation for an
intelligent world, develop digital solutions, and reshape industries with intelligence."

Press Release

Xiao Yi, President of Huawei Cloud Global Ecosystem Solution Dept

With innovative technologies and a vast array of industry-specific solutions, Huawei Cloud Stack
currently serves more than 5,500 government and enterprise customers around the world, leading
multiple markets, such as the hybrid cloud markets in China and the emerging Asia-Pacific region.

Moving forward, Huawei Cloud will continue to spur innovation, expand industry know-how, and
develop more customer-centric services to help more African customers move to, use, and manage
the cloud better. Huawei Cloud looks forward to joining hands with more African customers to
unlock new opportunities in industry intelligence and create an intelligent future.

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