Investing in Tech News, Uganda
The title says it all for Tech News Uganda. This weekly magazine is one of the best sources of information for anyone who is seriously interested in technology and the related industries in Uganda. With articles written by some of the country’s leading experts in the tech sector, as well as interviews with business leaders, government officials, entrepreneurs, and others in the IT industry, it covers almost every aspect of technology life in the nation. It has an international outlook as well, with a significant presence in South America, including Brazil. And it also has an online edition that can be accessed from its website.
This week’s cover story features an interesting piece on Kukui Investment. Kukui is one of the fastest-growing private sectors in Uganda, with investors coming from as far away as Singapore and the United States. And the country’s business leaders are taking advantage of that growth. They have formed the Kukui Investment Research and Training Institute to channel the wealth of their experience into training Kukui investors and helping them develop their skills.
The issue of education and training is a popular one in Uganda and indeed throughout the tech world. Many entrepreneurs want the benefit of Kukui education and training centers without having to pay for the high costs of sending their employees there. This issue was addressed by this issue of Tech News Uganda, with interviews with Kukui Investments President Luciano Moreira and Investec director Paul Openshaw.
In the interview, both men stressed the need for the Ugandans to continue their support of tech and IT education and to ensure that their investment dollars are well spent. They also agreed that entrepreneurs need to keep up with the rapidly changing landscape of the tech industry in Africa and that entrepreneurs need to think about launching more franchises rather than creating a big player in one area. And they both agreed that the rapid spread of mobile technology across the globe means that entrepreneurs need to stay abreast of all the new market entrants, both domestically and internationally.
In fact, there was even some discussion about how entrepreneurs should handle transnational ventures such as a tech company in Uganda. Openshaw believes that there are many different routes to take, but that ideally, they would form a consortium and share resources and expertise. He went on to say that they would need to be able to keep abreast of each other’s developments and business plans. He also suggested that some governments may welcome such an initiative and help them along.
While Mr Moreira emphasized that Kukui investment was vital for every business in Uganda, he also warned against complacency. He said that one needs to be flexible and that a company needs to be ready to adapt its business model to changing market conditions and trends. He also pointed out that technology transfer works best when it is supported by local businesses that have a sustainable vision. He went on to say that this was one of the unique benefits of being involved in a Kukui cooperative venture.
There has been a lot of hype about tech news emerging in Africa recently. However, although this industry is growing quickly, there is still a long way to go. There is no denying that there is huge potential in the sector and it has the potential to grow in size and influence. As such, entrepreneurs and business owners need to take advantage of this.
Entrepreneurs can take advantage of various entrepreneurial programs being conducted across the globe, including the Africa Startup Training Program that is backed by PayPal founder and eBay founder John Young. He is set to deliver his course in Uganda later this year. Also check out accelerator programs being run by Kukui Education, which aims to give African entrepreneurs access to global investors. Finally, it would also be wise to remember that innovation and disruptive innovation is becoming a key feature of modern business.