Business leaders call for more digital platforms
Business experts believe that using digital platforms to transact during this time of the coronavirus pandemic is the best way of growing sales revenues.
Speaking during the fifth edition of the Innovation Series event by brainchildBCW, an affiliate of Burson Cohn & Wolfe, Africa’s largest PR network, Walter Wafula the Business Unit head at brainchildBCW, said: “As the unexpected costs and losses of Covid-19 to businesses mount, the need for practical, scalable, quick and effective solutions is urgent. Now more than ever, it’s time to put digital finance and payments to work for SMEs to survive the impact of the coronavirus.”
He added, in a statement, that “for businesses to fully capitalize on this unique opportunity and ignite a longer-term behavior change among its customers, they must ramp up the speed at which they are embracing digital payment solutions.”
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Beatrice Lugalambi, general manager, corporate communications and marketing, Centenary bank, said “the behavioural changes that come with coronavirus further reinforced the need for enhancing technology in order to better service and ensure secured engagements for their customers.”
The statement quotes figures from Bank of Uganda, which show that at the end of 2019, Uganda had up to 27 million registered mobile money subscribers with a total number of transactions at Shs 277 million with the transaction value standing at Shs 7.3 billion.
“This speedy growth can be attributed to the introduction and increase in use of digital financial services by banks, telecoms and fintech in the economy,” the statement points out.
“Over time, mobile money has been able to democratize most businesses into allowing to operate using the platform in exchange for provision of products and services,” Godfrey Muhindo, the head, Merchant Portfolio-Airtel Money at Airtel Uganda, is quoted in a statement. He added: “Africa will have about 700 million mobile users in the next two years; this goes ahead to show the great shift to digital payments for the masses.”
Ricky Rapa, the co-founder of SafeBoda Holdings, advised government to think of public transport.
“The government recently eased public transportation with strict regulations including half-capacity seating to prevent the spread of the virus. Payment methods for this should also be addressed to reduce the physical cash transactions between passenger and drivers and embracing new digital payments through contactless cards such as VISA, mobile money and cashless rides, among others, should be at the forefront especially in the transport business.”
In other related news, DStv and GOtv customers are set to have online access to purchase a range of kit items and have them delivered at the location of their preference while they stay safe at home. This after MultiChoice Uganda and Jumia signed a partnership to allow these kinds of transactions.
While announcing the partnership, Colin Asiimwe, MultiChoice Uganda head of marketing said the partnership between the two firms is timely in light of the need to minimize physical contact in light of the current Covid-19 pandemic.
“The partnership is driven by the increase in the uptake of digital services influenced by existing and new technologies supported by better internet services thus revolutionizing how individuals and businesses operate. This presents an opportunity for us to tap into the already-established digital avenues in extending services to our clientele across the country,” Asiimwe explained.
