<h1>Press Release: Renew Capital Angels Invest in Ugandan Digital Payment Platform Xente</h1>Digital payments made easy for African businesses&nbsp;<a href="https://latest-api.renewcapital.com///uploads/FINAL_Xente_Press_Release_dfdc3697ca.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release&nbsp;</a>Kampala, Uganda, March 29, 2023 — Renew Capital Angels have invested in Ugandan digital payment platform <a href="https://www.xente.co/" target="_blank" rel="noopener noreferrer">Xente</a>. Xente makes it easier for businesses to make payments and track and manage their finances in a single easy-to-use digital platform.<img src="/uploads/IMG_9631_e68e4877b5.jpg" alt="A photo of Renew Capital Senior Investment Manager with Xente founders after the partnership agreement.">Xente, a business neo-bank, is helping to drive the agenda of digital transformation in the region where the majority of payments are done manually. Only 5%–7% of all payment transactions in Africa were made via electronic or digital channels (Mckinsey, 2022). In addition, banks reported the proportion of SMEs that use digital banking to be less than that of retail customers (Backbase, 2022).&nbsp;“The scale of the problem Xente is solving and the market opportunity that exists for their offering is impressive. We are proud to be on this journey with Xente as it expands its business across the region,” says Renew Capital Senior Investment Manager Diana Njuguna.&nbsp;“We are excited that Renew Capital Angels has invested in Xente. This investment serves as a validation of our commitment to transforming Africa from underdeveloped to developed through our digital finance solution for businesses,” says Xente CEO <a href="https://www.linkedin.com/in/allan-rwakatungu-865650159/" target="_blank" rel="noopener noreferrer">Allan Rwakatungu</a>. “Our focus remains on diligently executing our mission and addressing the real problems faced by our customers.”&nbsp;Businesses can use Xente to make payments using cards, mobile money, domestic and international bank transfers, as well as to pay bills and send airtime and data. Furthermore, the platform allows them to efficiently manage their petty cash expenses to ease the complexity of accounting and finance.&nbsp;In 2022, Xente acquired a license from the Bank of Uganda and also partnered with Visa to launch one of the first physical and virtual corporate cards by a fintech in East and Central Africa. Xente hopes to expand its user base with the investment from the Renew Capital Angels and continue enhancing its product offering.&nbsp;

Renew Capital Angels invests in Uganda's Xente, a digital payment platform simplifying business transactions across Africa. Xente enables seamless payment, expense management and digital finance solutions, driving the region’s digital transformation.

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Press Release: Renew Capital Angels Invest in Ugandan Digital Payment Platform Xente

<h1>Why We Invested in Sawa Energy: Creating Accessible Clean Energy for East Africa</h1><figure class="image"><img src="/uploads/SAWA_ENERGY_TEAM_52_6d614f76bd.JPG" alt="Founders of Sawa Energy providing solar solutions for businesses in Rwanda and Uganda."></figure>Africa holds enormous potential for clean energy, especially solar, yet struggles with<a href="https://www.brookings.edu/articles/addressing-africas-dual-challenges-climate-change-and-electricity-access/"> electricity access</a>. The continent receives minimal&nbsp;<a href="https://climatepromise.undp.org/news-and-stories/west-africa-has-great-potential-solar-energy-its-time-release-it#:~:text=It%20seems%20the%20problem%20is%20widespread%20across%20the%20continent.%20In%202021%2C%20only%200.6%20percent%20of%20the%20%24434%20billion%20dollars%20invested%20globally%20in%20renewable%20energy%20production%20went%20to%20African%20countries%2C%20the%20lowest%20investment%20since%202011.">renewable energy investment</a>—only 0.6% of the $434B global investment in 2021, the lowest since 2011. This lack of funding impacts business productivity across Africa, which faces ongoing energy reliability issues.<a href="https://www.sawaenergy.com/ourstory">Sawa Energy</a>, based in Uganda and Rwanda, builds and finances solar systems tailored for commercial businesses. Their model enables small and medium-sized enterprises to access solar without upfront costs, saving 10% to 30% on electricity bills and gaining reliable energy access.Renew Capital invested in Sawa Energy to support its vision of a sustainable energy future in Africa.<h2>Strong Founders</h2>Sawa Energy, launched in 2021, has founders with more than a decade of renewable energy experience.&nbsp;<a href="https://www.linkedin.com/in/samuel-kaufman-cpa-a6387835/">Samuel Kaufman</a>, the Chief Executive Officer (CEO), along with co-founders&nbsp;<a href="https://www.linkedin.com/in/jordan-zipkin/">Jordan Zipkin</a>, Chief Investment Officer(CIO) and&nbsp;<a href="https://ca.linkedin.com/in/guillaumecharpenel">Guillaume Charpenel</a>, board member and former Managing Partner, lead the company’s mission of empowering local partners, reducing emissions and delivering investor returns.<h2>Demonstrated Traction</h2>As one of the largest solar suppliers in Rwanda, Sawa Energy has developed&nbsp;<a href="https://www.duurzaaminvesteren.nl/projecten/sei-24-solar-u-ltd">32 projects&nbsp;</a>totaling 2.6 MWp and 1 MWh across Rwanda and Uganda. Their clients include data centers, banks, schools and nonprofits.&nbsp;<h2>Orientation Toward Growth</h2>Sawa Energy aims to become East Africa’s largest private solar provider by 2030, addressing energy needs with reliable and affordable clean energy solutions.“Sawa Energy's approach to financing solar is a game-changer in the region. By facilitating the transition to clean and renewable energy sources, Sawa Energy is addressing immediate electricity needs while paving the way for a greener and more resilient energy landscape across the continent.” — Laura Davis, Managing Partner and Co-CEO of Renew Capital.

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Why We Invested in Sawa Energy: Creating Accessible Clean Energy for East Africa

<h1>Why We Invested In Opareta: Building Digital Infrastructure For Mobile Money Agent Networks</h1><figure class="image"><img src="/uploads/Whats_App_Image_2024_01_09_at_08_30_28_2_b96ab2f0ce.jpeg" alt="The Opareta founder and team visiting one of their mobile money operator shop in Kampala, Uganda."></figure>Mobile money transfers have increased access to financial services for unbanked and underbanked populations globally. Mobile money adoption in Africa is the highest in the world and is growing rapidly. In 2023, mobile money transactions in Africa totaled $919B, facilitated by 8.3 million active agents across the globe, according to the&nbsp;<a href="https://www.gsma.com/sotir/wp-content/uploads/2024/03/GSMA-SOTIR-2024_Report.pdf">GSMA</a> report. There are 237 million active mobile money accounts and 856 million registered accounts across the continent. Amid this booming landscape,&nbsp;<a href="https://opareta.com/">Opareta</a> stands out.&nbsp;Opareta automates commercial operations across agent networks with a suite of tools designed to boost operational efficiency, manage liquidity, mitigate fraud and drive growth. Their innovative approach integrates agent management SaaS, performance analytics, field team management, Know Your Customer (KYC) and customer relationship management (CRM) services, financial process facilitation and loan management tools. By building an intuitive mobile app, Opareta enhances the digital transformation of the industry from analog methods to a seamless digital experience. These features streamline processes and enhance the efficiency and reliability of mobile money services, which are pivotal in the digital transformation of financial services in Africa.Renew Capital invested in Operata to help transform the mobile money ecosystem by digitizing the agent networks.&nbsp;"We tackle this issue directly with our digital operating system, which enhances liquidity management, performance analytics and digital identity creation for agents. This change not only boosts operational efficiency but also advances financial inclusivity." — Mike Schwartz, co-founder of Opareta.<h2>Demonstrated Traction</h2>Since launching in Uganda, Opareta has supported mobile money agents to secure float and earn higher commissions. Opareta has expanded its strategic partnerships with mobile money operators in several countries, including Uganda, Gambia, Sierra Leone, DRC, Angola and Zambia.&nbsp;<h2>Orientation Towards Growth</h2>Opareta has made several strategic moves that position it for significant growth. These early steps highlight Opareta's commitment to innovation and its potential to transform the mobile money sector."We are thrilled to back growth-oriented companies like Opareta. Their approach aligns with the needs of an evolving financial landscape, driving efficiency and providing mobile money operators with tools that offer transparency, autonomy and insightful data," —&nbsp; Laura Davis, Managing Partner and co-CEO of Renew Capital.

Learn why Renew Capital invested in Opareta, an African startup building digital infrastructure for mobile money agent networks in Kampala, Uganda.

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Why We Invested In Opareta: Building Digital Infrastructure For Mobile Money Agent Networks

<h1>Press Release: Level Africa’s Mission to Ease Access to African Capital Markets Gains Momentum from New Investment</h1>Ugandan company provides an efficient way to invest in Africa’s capital markets<a href="https://latest-api.renewcapital.com/uploads/2024_19_02_FINAL_Level_Africa_Press_Release_471912faec.pdf" target="_blank" rel="noopener noreferrer">Download the full press release&nbsp;</a>Kampala, Uganda, February 19, 2024 — The journey to invest in bonds, stocks and other financial instruments available through capital markets across Africa has long been fraught with challenges such as complex paperwork and unreliable brokers. Level Africa is working to change this narrative. As a regulated fintech innovator, Level Africa streamlines the investment process, enabling quick and easy access to bonds, stocks and other financial instruments from a smartphone or laptop in just five minutes.<figure class="image"><img src="/uploads/IMG_9017_8da4600cbf.JPG" alt="The Level Africa team in their Kampala, Uganda office is focused on building digital infrastructure that simplifies access to African capital markets."></figure>"Many see investing in Africa’s capital markets as a domain for the wealthy, encumbered by slow and costly procedures," says Abraham Banaddawa, Co-Founder of Level Africa. "We're changing that. Our platform is not just fast and secure— it's also user-friendly, welcoming retail investors from Africa and across the world." The platform's straightforward approach is reshaping how investments are made in African markets, offering an easy entry point for both experienced investors and newcomers.Renew Capital's recent investment in Level Africa highlights the platform's growing significance in the African investment sector. Renew Capital, known for backing driven and innovative entrepreneurs in Africa, recognizes Level Africa's role in making investment more inclusive."Supporting Level Africa aligns with our goal of empowering impactful companies," Diana Njuguna, Senior Investment Manager for Renew Capital in Uganda, observes. "We envision a shift in how the world engages with Africa, from a perspective of giving to one of investing. Level Africa is supporting the transformation in how people invest in Africa, and that's a mission we stand firmly behind."*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Renew Capital invests in Level Africa to enhance access to African capital markets.

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Press Release: Level Africa’s Mission to Ease Access to African Capital Markets Gains Momentum from New Investment

<h1>Press Release: Opareta Secures Investment to Roll Out Comprehensive Mobile Money Operator Solution&nbsp;</h1>Improving agent networks with cutting-edge tools and empowering financial solutions<a href="https://latest-api.renewcapital.com/uploads/2024_09_01_FINAL_Opareta_Press_Release_bba5edb312.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>Kampala, Uganda, January 9, 2024— Mobile money transactions play a crucial role in Africa's financial landscape.&nbsp;According to GSMA, in 2022 four million active agents supported over $831B in mobile money transaction value across sub-Saharan Africa.&nbsp;Ugandan startup Opareta fills technological gaps for mobile money operators with a comprehensive digital operating system that allows efficient oversight of agent networks including tools for cash reconciliation, float approvals and disbursements and effective loan management. The platform also provides performance analytics, field team management, KYC capture, and CRM services for enhanced efficiency and customer engagement.<figure class="image"><img src="/uploads/Whats_App_Image_2024_01_09_at_08_30_28_bfd4d9955b.jpeg" alt="The Opareta founder and team visiting one of their mobile money operator shop in Kampala, Uganda."></figure>“The reliance on outdated tools such as physical ledgers and USSD codes for transactions has long been a bottleneck in the sector,” states <a href="https://www.linkedin.com/in/michael-schwartz-0369b275/" target="_blank" rel="noopener noreferrer">Mike Schwartz</a>, co-founder of Opareta. “We address this challenge head-on with our digital operating system, designed to improve liquidity management, performance analytics and digital identity creation for agents. This shift promises not only improved operational efficiency but also a leap toward financial inclusivity.”By creating robust digital infrastructure and tools, Opareta aims to significantly enhance the operational efficiency of mobile money operators and other digital financial services providers.&nbsp;&nbsp;“Opareta's approach aligns with the needs of an evolving financial landscape where mobile money operators seek to drive efficiency and agents seek more than just transactional tools,” states Diana Njuguna, senior investment manager at Renew Capital. “They need systems that offer transparency, autonomy, provide insightful data and seek to support the evolution of mobile money agents into multifaceted service platform operators. This investment aims to alter the landscape of financial transactions and services across the region.&nbsp;&nbsp;*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Opareta secures investment from Renew Capital to roll out digital tools for mobile money operators, improving efficiency and financial inclusivity in sub-Saharan Africa.

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Press Release: Opareta Secures Investment to Roll Out Comprehensive Mobile Money Operator Solution

<h1>Meet the Women Behind the Inclusive Eyewear Brand Wazi Vision</h1>Q&amp;A with Wazi co-founders <a href="https://www.linkedin.com/in/geogette-ndabukiye/" target="_blank" rel="noopener noreferrer">Geogette Ochieng Ndabukiye</a> and <a href="https://www.linkedin.com/in/bkatwesigye/" target="_blank" rel="noopener noreferrer">Brenda Katwesigye Baganzi</a><a href="https://wazivision.com/">Wazi Vision&nbsp;</a>is a woman-owned eyewear brand known for its stylish designs that are made with African features in mind. Leaving behind a career in management consulting and risk advisory, Brenda Katwesigye Baganzi launched Wazi to fill a gap for high-quality, customizable and affordable prescription eyeglasses and sunglasses in the region. Together with her co-founder, Geogette Ochieng Ndabukiye, they shared with Renew Capital more about their manufacturing and design processes and their plans to disrupt the future of the eyewear industry to make high-quality glasses accessible across East Africa.This interview has been edited for length and clarity.<figure class="image"><img src="/uploads/NJJ_4642_3e50ea9c69.jpg"></figure>Q. How do you ensure your glasses are comfortable for all face shapes and are of the highest quality?When we initially started Wazi Vision, the idea was to provide low-cost eyewear. From talking to customers we started to see an opportunity to also provide a solution for glasses that are designed for African facial features. Wazi offers a gallery of eyewear designed for different face shapes, nose shapes and nose bridges, to ensure that our frames fit well and are comfortable. We also offer custom-made eyewear for customers who prefer bespoke design and fitting. The glasses are made with high-grade acetate (a type of nylon-based plastic) to ensure the best quality frames. We are also currently testing the use of locally-sourced materials including bamboo and cow horn which we hope to put on the market soon.Q. What are some of the challenges you have faced while running your business and how have you been able to overcome them?We are faced with the challenge that potential customers don't believe that Ugandan-made frames can be as high-quality as Wazi’s are. One of the ways that we have been able to overcome this perception is by getting recognized by people who are seen as thought leaders to wear the brand and vouch for the quality. This has been successful and our research shows that referrals contribute to a large portion of our customer base. Another challenge has been the investment required to pioneer the eyewear manufacturing process. Research and development can be tedious and time-consuming and also requires capital—but it is a necessity to ensure that we are delivering a high-quality product to the market.&nbsp;Q. What are some exciting initiatives you have planned for the future of Wazi?We are excited about making the Wazi brand more visible through partnerships with insurance companies, corporate organizations, optometrists and ophthalmologists. And we are also very excited about continued opportunities to give back to low-income communities. Last year alone we were able to go out to low-income communities and hard-to-reach areas in different parts of Uganda and distribute hundreds sets of Wazi frames to people who would otherwise not be able to access eyeglasses.Q. What do you think the future holds for the eyewear industry in East Africa?Some aspects of East Africa’s eyewear industry are already starting to change. Brands like Warby Parker have attempted to make some changes in terms of style and cost, but there's still plenty of room for disruption in terms of how people actually access eyeglasses—especially in Africa. We know we must constantly evolve to stay ahead when it comes to innovation, both in our brand and type of designs and also the ways in which people can access and finance eyewear.&nbsp;

Q&A with Wazi co-founders Geogette Ochieng Ndabukiye and Brenda Katwesigye Baganzi

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Meet the Women Behind the Inclusive Eyewear Brand Wazi Vision

<h1>Press Release: Renew Capital Angels Invest in Ugandan Eyewear Company, Wazi&nbsp;</h1>Eyewear Made by Africans for Africans<a href="https://latest-api.renewcapital.com/uploads/FINAL_Wazi_Press_Release_78c26ef19a.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release</a>&nbsp;Kampala, Uganda, March 16, 2023&nbsp;—&nbsp;The Renew Capital Angels have invested in Wazi Vision, a women-founded Ugandan company with a vision to change the eyewear industry in Africa.&nbsp;Founders Brenda Katwesigye Baganzi and Geogette Ochieng Ndabukiye launched Wazi in response to a gap in Uganda’s eyewear market.&nbsp;“Accessing high-quality eyewear in Africa is often prohibitively expensive and unattainable for the majority of the population. However, available alternatives are of subpar quality and fail to offer adequate value to customers.” Baganzi explains.&nbsp;<figure class="image"><img src="/uploads/Wazi_Image_1_0da10c24da.png" alt="An image of a Wazi Vision employee assisting a female client trying out a stylish, affordable and high-quality eyewear in Kampala, Uganda."></figure>Baganzi and Ndabukiye built Wazi to address these pain points for the African eyewear consumer.“We provide eyewear that is both high-quality and affordable, relatively accessible for the mass market and designed to be comfortable for African faces,” Baganzi says.Wazi glasses are made by a skilled African team who consider various facial features to ensure each pair of frames is fashionable and comfortable. Wazi also allows customers to design frames that capture their individual personality and choice of material including acetate and sustainable eco materials like cow horn, bamboo and denim.Wazi glasses are becoming popular with the youth for their wide selection of chic styles and unique and trendy brand persona. Wazi plans to open a new store in one of the busiest suburbs in Kampala to cater to demand.“And because making eyewear accessible to everyone is part of our mission, we also partner with corporates to give back to low-income communities,” says Ndabukiye.With the help of an investment from the Renew Capital Angels, Wazi plans to expand its product line and enhance its distribution capacity in Kampala and beyond.“Innovation within the eyewear sector is at a nascent stage in sub-Saharan Africa. We like the fact that Wazi is a homegrown technology-driven business looking to improve the accessibility of unique and affordable eyewear. We look forward to working with Geogette and team in creating an eyewear brand by Africans, for Africans, in Africa,” said Diana Njuguna, Renew Capital, Senior Investment Manager.&nbsp;###

Renew Capital Angels invests in Wazi Vision, a Ugandan eyewear company founded by women, to make stylish, comfortable, affordable and high-quality eyewear accessible across Africa.

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Press Release: Renew Capital Angels Invest in Ugandan Eyewear Company, Wazi 

<h1>Inputi: Using Technology to Boost Agricultural Productivity</h1>Q&amp;A with Inputi’s founder and CEO, David Lukwago&nbsp;Renew Capital Angels invested in Inputi in October 2022. <a href="https://latest-api.renewcapital.com/uploads/FINAL_Press_Release_Inputi_00cfaad0fb.pdf" target="_blank" rel="noopener noreferrer">Read more.</a>Food security is one of the most pressing challenges of our time. According to the International Committee of the Red Cross (ICRC),&nbsp;<a href="https://www.icrc.org/en/document/food-crisis-soaring-across-africa">close to 346 million people are currently affected by the food crisis</a>&nbsp;in Africa&nbsp;as a result of conflict, a changing climate and unproductive farming. In Uganda, agri-tech company Inputi, is helping farmers to increase productivity by providing a digital marketplace to improve B2B and B2BC sourcing of farm inputs, ultimately allowing farmers to access quality and genuine products downstream at affordable prices.&nbsp;The idea of Inputi was sparked during the COVID-19 pandemic as countries like Uganda imposed strict lockdowns that led to significant disruptions in the supply chain. David Lukwago, a graduate of Harvard University Kennedy School, saw an opportunity to fill a gap in the market to provide access to farm inputs and boost agricultural productivity using digital technology.&nbsp;–This interview has been edited for length and clarity<figure class="image"><img src="/uploads/INPUTI_IMAGES_36_c46673517e.jpg"></figure>What is Inputi?&nbsp;Inputi is a digital marketplace for the agriculture sector. We connect manufacturers and suppliers of quality and genuine farm inputs with agro-dealers and cooperatives that can hardly access them.&nbsp;In the long term, we intend to grow our digital platform to include a produce-trading platform that links smallholder farmers to buyers. Vendors upload e-catalogs of their products, which are then accessible to our agents or farmers. This transparent pricing approach makes farm inputs more affordable to farmers.What is your background that led you to Inputi? Were you involved in farming?For a long time, I was on the market side. I used to buy maize from farmers and sell it to the World Food Programme. Our biggest challenge was that even when there was a demand from the market, the farmers struggled to meet the demand because their production was very little and there were problems with quality control.&nbsp;After living in the United States for a while, I came back to Uganda and opened a non-profit with the intent to help farmers improve their practices and link them to markets. I have a lot of experience with setting up demonstration gardens and farming in general, and right now, we have nine demonstration gardens in different communities where we bring farmers together to learn the best farming practices and methods.How is Inputi currently aggregating the demand for inputs?One of our goals is to aggregate demand based on location. We are working to make the pickup of farm inputs as convenient as possible for farmers by delivering inputs to the nearest agro shop. For livestock farmers who have more mature and organized value chains, we deliver inputs through cooperatives.&nbsp;Customers are also able to order through our call center, website, WhatsApp or through their agents.&nbsp;We are also testing the use of the USSD code for users that do not have a smartphone or internet connection.What challenges have you encountered in the two years that Inputi has been operating?&nbsp;Most farmers know that they need to use quality and genuine farm inputs to increase productivity, but uptake is usually hindered by the high costs of inputs. For example, a farmer may want to use quality fertilizer on his or her farm, but the cost of fertilizer is too high, so they resort to their old planting methods. This often leads to a decline in productivity. Inputi is solving the distribution headache for manufacturers while providing farmers with a diverse array of inputs and pricing transparency. Today, we have farmers walking into an agro shop knowing how much a bag of fertilizer costs.&nbsp;Also, as a result of increased demand we are starting to see young women and men opening up agro shops closer to the farmers. It is still a bit early for us to draw substantive conclusions but I would imagine we are playing a part in youth empowerment and food security.We also have farmers who have been growing the same type of crop on a small piece of land for years. The soils are exhausted and are no longer productive. While some argue that using inorganic fertilizers is not a solution due to potential environmental damage, the reality is that we don't have an adequate supply of organic fertilizers, and when it is available, it is often too expensive for many farmers. This leaves us in a difficult position to choose between rendering farmers unproductive or providing them with the technology they need to increase productivity. In my opinion, the key issue is not the use of fertilizers or pesticides, but rather the wrong application of these inputs. By teaching farmers how to apply these inputs properly we can minimize the negative impact on the environment while still increasing yields.&nbsp;<figure class="image"><img src="/uploads/INPUTI_IMAGES_22_0281dd24fe.jpg"></figure>There is a looming famine in places like Sudan. What are your concerns right now as you look at the next few months?Famine is sometimes a consequence of dysfunctional food systems. This can be seen in the Karamoja region of Northeastern Uganda where a significant number of people have died of hunger. In contrast, in the southwest region of the country, people have an abundance of food to the point of excess, leading to food wastage and loss.We cannot eliminate famine caused by climate change, but we can mitigate it by improving food distribution systems which cannot be fixed by donors or governments alone. The private sector plays an extremely critical role in building efficient, effective and sustainable means to move food to where it is needed. The private sector should be fully empowered and should have a seat at the table wherever food security discussions are had.What’s on your wishlist for the next 10 years?My wish for the next 10 years is that everything shifts to organic and that we allow the market to dictate the products that consumers want. Widespread use of organic fertilizer is not yet a feasible alternative but I believe that promoting its use and making it more accessible to farmers is an essential step toward achieving long-term sustainability in agriculture.Are there any additional points that you would like potential investors in Africa to understand?&nbsp;The next one billion people born in the next 30 years are going to be on the African continent. This alone is going to pose a food security challenge. Demand is going up and currently, there's enough data to show that food production is declining. One of the ways to solve this problem is to bring technology onto smallholder farms. Digital technology is going to help us leapfrog all these other broken pieces along the value chains.Connect with&nbsp;<a href="https://www.linkedin.com/in/david-lukwago-723677168/">David Lukwago</a> on LinkedIn and follow&nbsp;<a href="https://inputi.market/">Inputi</a> on&nbsp;<a href="https://www.linkedin.com/company/inputi/">LinkedIn</a>,&nbsp;<a href="https://twitter.com/InputiINC">Twitter</a>,&nbsp;<a href="https://www.instagram.com/inputilimited/">Instagram</a> and&nbsp;<a href="https://www.facebook.com/inputiINC">Facebook</a>.

Q&A with Inputi’s founder and CEO, David Lukwago 


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Inputi: Using Technology to Boost Agricultural Productivity

<h1>Financial Inclusion and Market Linkages Transform Lives</h1>Q&amp;A with Quest Digital Finance founder Jean Antony Onyait <img class="image_resized" style="width:100%;" src="/uploads/20210518_112053_889a1e0b0d.jpg">Since 2016, Ugandan fintech startup Quest Digital Finance has been bringing financial inclusion and market linkages to the “unbanked” through its fintech products&nbsp;<a href="https://akellobanker.com/#">Akellobanker</a> and&nbsp;<a href="https://www.questbanker.com/index.php#welcome">Quest Banker</a>.&nbsp;&nbsp;Quest Banker was created to help address the needs of 65% of adults in Uganda with no access to formal credit institutions (World Bank, 2017). By enabling end-to-end digital transformation for financial institutions, Quest Banker de-risks facilitating credit to these underserved populations.&nbsp;The Akellobanker platform serves the other side of the market, enabling smallholder farmers and traders to access loans from financial institutions, primarily SACCOS (Savings and Credit Cooperatives) and microfinance institutions. By providing underserved farmers, their biggest user segment, with access to finance, the fintech company is also helping to bolster food security. A 2022 Renew Capital Angels&nbsp;<a href="https://www.renewcapital.com/newsroom/quest-digital-finance-connects-the-unbanked-to-formal-credit-systems">investment</a> in Quest Digital Finance is helping to fund the growth of the Akellobanker platform user base.Founder,&nbsp;<a href="https://ug.linkedin.com/in/jonyait">Jean Antony Onyait</a> shares his startup journey in an interview with Renew Capital.&nbsp;This interview has been edited for length and clarityQ. What changes and challenges have you seen in entrepreneurship in your country over the past 10 years?&nbsp;Cash flow challenges are the reason most businesses in Uganda die. However, that is changing. The appetite for investment is definitely growing. The government is showing more interest in investing in companies that are locally born. Development partners have also realized the need to support local solutions which have been contextualized to address local problems.Q. What do you think the private sector in Uganda might look like in the next 10 years?In the next 10 years, I think the private sector in Uganda will play a critical role in influencing public policy. For example, if you look at finance 10 years ago, commercial banks were the owners of financial inclusion. Five years ago, financial technology companies came over and showed banks that they could break through to places they weren’t reaching—breaking monopolies and creating healthy competition. This competition goes a long way in reducing prices and making services more affordable for local communities. I foresee many partnerships being created because governments will want to use locally existing solutions to deliver services to the local communities. Already, these public-private partnerships have become common in the agriculture, finance and healthcare sectors.&nbsp;Q. Why is private sector innovation important to bolster agricultural production in Uganda?Uganda’s population is growing fast, but the land mass, especially that which can be used for agriculture remains the same, so there need to be new ways of catalyzing production for agriculture. At the same time, industrialization is increasing, and most of the raw materials will come from agriculture. The only way we can meet this demand is to educate the millions of people working in agriculture and provide access to financial linkages, quality traceable inputs, buyers, equipment and insurance. Today, decisions need to be made with data, which is best leveraged with a traceable, end-to-end digital ecosystem or economy. That’s what our business is helping to build.&nbsp;Q. Can you tell us a bit about your future plans for the business?Demand for our line of work grew as a result of COVID-19 which reaffirmed the importance of helping businesses through digitalization. Unfortunately, the cost of infrastructure can be prohibitive. As such, we need to think about how to bundle more products and services so that we can eventually build a premium product that helps us recoup our money from the transactions and services we deliver. That's why it’s so important and strategic for us to get as many clients as we can now. With the investment from the Renew Capital Angels, we are able to sign on a lot of rural cooperatives and financial service providers as we integrate or link them to relevant products and service bundles that will transform the lives of millions of smallholders.&nbsp;