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Uber: Four Years of Changing Perspectives, Driving Economic Transformation in Africa
By Alon Lits
When Uber was first established in 2009 its mission was to help people everywhere get a ride, safely, quickly and at the push of a button.
Eight years later, that mission remains the same and Uber’s innovative, technology-driven business model is still fundamentally changing the way people think about meeting their transport needs.
For the past four years, Uber has been delivering this same level of transformation across sub-Saharan Africa (SSA) and with more than 1.8 million active riders using the app, Uber certainly has reason to celebrate its fourth anniversary on the continent this September.
And it’s not just Uber that has benefited from the stellar uptake of its convenient offering in Africa.
The SSA countries in which Uber now has a presence, and the citizens of those countries, are also reaping significant socio-economic rewards thanks to the transformation that the Uber approach has helped to drive.
At an economic level, these benefits take many forms. In many cities, the reliability, immediacy, and convenience that Uber offers to city residents and visitors is having the positive impact of helping to reduce congestion.
In most urban parts of sub-Saharan Africa, single occupant vehicles remain the biggest contributors to gridlock. But increasing numbers of city residents are recognising that Uber offers a cost effective way of sharing their daily commute with others, thereby reducing the total number of vehicles on the roads, while at the same time cutting down on the costly wear and tear that regular stop-start driving causes.
Repeat Uber usage in South Africa is a prime example of these shifting private transport perceptions. This month, almost 25 000 riders each used Uber more than 10 times a week, which points to the increasing adoption of this tech-driven solution, not just as a leisure transport option, but also for work and business purposes. This demonstrates that Uber is a true alternative to private car ownership.
Another significant benefit that Uber is delivering in sub-Saharan Africa is enabling and empowering economic opportunities and offering more choice. The steadily growing number of Uber driver-partners in countries across the region is testament to the appeal of the Uber business model.
That’s because it creates real opportunities for local entrepreneurs to create and enjoy the flexibility and enhanced earnings potential – for themselves and, ultimately, for individuals that many of them bring into their thriving and growing transport businesses.
And growing demand for trips across the sub-Saharan Africa region leads to a steadily growing need for drivers.
Currently more than 29 000 such driver-partners are taking advantage of the earnings generating opportunities delivered by the Uber app. Importantly, the Uber model allows these individuals to be as flexible as they need to be, which means that they are able to earn what they want, when they want to, either as a full-time entrepreneurs or to supplement other sources of income.
Uber investigates partnerships with businesses that bring benefits to drivers, such as the multiple vehicle financing programmes that have been made available to drivers across South Africa, Kenya and Nigeria, that reduce barriers to credit and capital.
The first partnership of this kind was implemented in South Africa with WesBank, offering existing drivers access to vehicles at preferential rates, with a view to establishing their own passenger transport business.
This unique model is based on driver ratings and earning potential, as opposed to the norm of credit checks. The model was successfully expanded across sub-Saharan Africa and is being tested in markets across EMEA.
Uber also invests heavily into supporting its driver-partners in their businesses through ongoing technological innovation as well as physical presences in the form of support hubs.
Apart from the existing Greenlight Hubs across SSA, five more of these state-of-the-art Greenlight Hubs were opened in Dar Es Salaam, Nairobi, Kampala, Kumasi and Lagos this year and, in addition to offering driver-partners technical and app support, they also offer information sessions and tailored workshops to driver-partners, focusing on training and skills development.
In a region of high unemployment and stagnating economic prospects, Uber’s business partnership approach provides an accessible means for entrepreneurs to not only supplement their own income, but also to become small business owners, thereby helping to improve the lives and futures of individuals, families and communities.
Importantly, Uber’s approach to shifting perspectives of how people in sub-Saharan Africa move around their cities is one of partnership with all stakeholders. Uber strives at all times to collaborate closely with local regulators to understand the challenges they are grappling with in their cities and then help them to develop workable and accessible solutions that benefit people and economies. It’s with this in mind that Uber has just launched Uber Movement in Johannesburg, a new website to help urban planners, city leaders, third parties and the public better understand the transportation needs of their cities.
This partnership approach has always been at the heart of the business because our global experience has shown us that multi-modal transport powered by technology is the best way to promote entrepreneurship, relieve pressure on infrastructure, and deliver safe and efficient transport that helps people connect with work, business and leisure opportunities.
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FG Offers Nine-month Amnesty for Illegal Dollar Holdings
Federal Government on Thursday announced a nine-month programme beginning on October 31 that allows individuals to deposit dollar bills held outside the formal banking system without scrutiny.
It said the new initiative aims to address the rising costs of commodities influenced by the foreign exchange rate, driven by demand and supply dynamics.
Wale Edun, finance minister and coordinating minister of the Economy, revealed this after the 144th meeting of the National Economic Council, the country’s highest economic advisory body, chaired by Vice President Kashim Shettima at the State House, Abuja.
“There will be no penalty; there will be no taxes, and there will be no questions,” he told journalists at a briefing after Thursday’s conclave.
Edun said that, under this programme, individuals can bring in U.S. dollars in cash without facing penalties, taxes, or scrutiny, provided that the funds are not linked to criminal or illicit activities.
Participants will only need to meet the standard Know-Your-Customer requirements set by banks to secure these funds, integrate them into the financial system, and make them accessible for legitimate economic activities.
He explained, “One element of the cost increase is the foreign exchange rate, which is demand and supply. There will be a programme starting today, October 31, and lasting nine months that will allow people to bring in cash outside the banking system.
“[Such cash] is unsafe, insecure and outside legal limits. They will be allowed forbearance to bring dollars cash. Let me emphasise once again: it is to bring dollars that they are holding outside the system to get them in and credit it to their bank accounts, as long as it is not proceeds of crime or illicit money.
“They should just meet the standard Know-Your-Customer criteria of banks and have an opportunity to bring in those funds, making them safe, secure, and available through regular economic activity.
Edun said his ministry will first issue guidelines for the programme, followed promptly by additional guidelines from the Central Bank.
According to the Minister, this measure offers law-abiding individuals a way to formalise their cash holdings. It also provides the financial system with additional dollar reserves, which may help to stabilise the exchange rate.
“This is an opportunity, not just for people who would normally like to comply, to be compliant with the laws and normal business practice, but of course, it allows us to bring those dollars from where they are doing nothing to where they are within the financial system, they add to our reserves, and of course can help with the exchange rate,” he added.
Edun equally gave an update on government economic relief measures, saying 25 million Nigerians have benefitted from federal social protection initiatives, including digital outreach, microenterprise loans, and sector-specific support for power, agriculture, manufacturing, health, and compressed natural gas initiatives.
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Wema Bank Launches Export Trade Academy to Empower Nigerian SMEs
Wema Bank has announced the launch of the Wema Export Trade Academy, a comprehensive training programme designed to equip Nigerian Small and Medium Enterprises (SMEs) with the essential skills and tools needed to succeed in the competitive landscape of global trade.
Moruf Oseni, the Managing Director and Chief Executive Officer of the bank, this initiative represents Wema Bank’s commitment to enhancing the capacity of Nigerian businesses, supporting their ambitions to thrive on an international scale.
Oseni said the Wema Export Trade Academy is designed as a solution to these challenges faced by Nigerian SMEs when entering international markets.
The Academy is specifically structured to address each critical aspect of global trade, providing SMEs with targeted guidance on compliance, documentation, financial planning, and risk management.
Through the Wema Export Trade Academy, SMEs will benefit from expert-led sessions, mentorship from industry professionals, and practical insights into international business practices, positioning them to make significant contributions within global markets.
The programme also places emphasis on building a network of Nigerian exporters, encouraging peer support and collaboration, while fostering connections between businesses and international trade facilitators.
Oseni said: “This holistic approach to export training will enhance efficiency and productivity, empowering Nigerian businesses to become competitive players in the global economy.
“The Wema Export Trade Academy reinforces Wema Bank’s dedication to building the capacity of Nigerian businesses and supporting their evolution into formidable global competitors.
“By addressing the barriers in export trade, we are enabling Nigerian SMEs to seize new opportunities in international markets, which aligns with our vision to empower lives and support sustainable business growth.
“The Wema Export Trade Academy embodies Wema Bank’s pioneering spirit and commitment to providing SMEs with practical, impactful solutions.
“With comprehensive training on export processes and access to strategic financial products, the program stands as a testament to Wema Bank’s role as an enabler of growth for Nigerian enterprises.
“Wema Bank continues to set the standard for innovation within Nigeria’s financial services industry, supporting individuals and businesses across various sectors to achieve sustainable growth.
“The Wema Export Trade Academy represents the latest stride in Wema Bank’s mission to empower Nigerian SMEs, further strengthening its reputation.”
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MTN Foundation to Celebrate 20 Years of Impact with Anniversary Conference and Dinner
MTN Foundation is set to celebrate a milestone—its 20th Anniversary—with a series of events designed to reflect on its contributions to communities across Nigeria.
The anniversary conference will take place on November 6, 2024, in Abuja, while the celebratory dinner is scheduled for November 14, 2024, in Lagos.
These events will bring together key stakeholders from both the public and private sectors, highlighting the Foundation’s commitment to sustainable development and community engagement.
Since its inception in 2004, the Foundation has been at the forefront of corporate social responsibility (CSR) initiatives in Nigeria. It was one of the first corporate entities in the country to establish a dedicated foundation for managing CSR activities.
The Foundation was officially commissioned in May 2005, with MTN Nigeria Communications PLC pledging to allocate up to 1% of its Profit After Tax (PAT) for funding various projects aimed at improving lives across the nation.
Over the past two decades, the Foundation has invested over NGN 24.73 billion into impactful projects that span all 36 states and the Federal Capital Territory (FCT). With more than 1,023 project sites across Nigeria, the Foundation has successfully executed 50 unique projects, reaching over 31 million people.
These initiatives have addressed critical areas such as education, health, youth empowerment, and arts and culture, making a significant difference in the lives of countless Nigerians.
As part of this celebration, the Foundation will unveil its new logo along with refreshed mission and vision statements.
This rebranding effort symbolizes a renewed commitment to its core values and goals as it looks toward the future.
Odunayo Sanya, Executive Director of MTN Foundation, expressed her enthusiasm for the upcoming celebrations and reflected on the journey thus far.
“This anniversary is both a celebration of our impact in Nigeria and a commitment to do more,” Sanya stated.
“We have always believed in the power of collaboration and community engagement to drive meaningful change.
“As we gather to reflect on our journey, we look forward to engaging with our partners and stakeholders to explore new avenues for sustainable development.”
The upcoming anniversary events aim to foster dialogue among leaders from various sectors, encouraging collaboration that can lead to innovative solutions for pressing societal challenges.
The conference will feature keynote speakers and panel discussions around national development and youth empowerment, as well as interactive sessions designed to inspire participants and share best practices in CSR and community development.
In addition to its focus areas, the Foundation has been instrumental in promoting digital literacy among Nigerian youth through various educational programs. By leveraging technology as a tool for empowerment, the Foundation has equipped thousands of young people with skills necessary for success in an increasingly digital world.
The anniversary conference and dinner are expected to be engaging experiences that will not only celebrate two decades of impact but also set the stage for future initiatives aimed at fostering community growth and resilience.
By bringing together diverse stakeholders, MTN Foundation hopes to ignite conversations that lead to actionable strategies for addressing Nigeria’s most pressing challenges.
The upcoming anniversary events promise to be an inspiring celebration of progress made while looking forward to new horizons in community development.
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