Energy startup gnuGrid raises US$250k funding as it scales solar solution

UGANDA – Energy startup gnuGrid of Uganda has raised a US$250,000 funding round as it works to scale its solution to more customers at home and into additional African markets. Launched in 2019 by David Opio and James Dailey, gnuGrid has built Solar Sentra, which aims to streamline and automate the highly fragmented solar industry in Uganda and beyond by using AI-optimised sensors to monitor solar systems and collect data on power usage which is used by solar companies to tailor service delivery.  gnuGrid bundles this hardware with digital payments, predictive analytics,…

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Bank of Uganda grants licenses to Opportunity and Afriland Banks

UGANDA – The Central Bank of Uganda has issued commercial banking licenses to two financial institutions, bringing the total number of commercial banks in Uganda to 26, reports Daily Monitor. In a press statement, BoU said it had granted the Commercial Banking License Certificates to Afriland First Bank Uganda Limited effective September 12, 2019 and Opportunity Bank Uganda Limited (OBUL) effective September 13, 2019 “Opportunity Bank has previously been trading as a Credit Institution and has now transformed to a Commercial Bank institution,” said BOU governor Emmanuel Tumusiime-Mutebile. As of…

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