Mobile Telecom giants MTN has rewarded participants of the ‘sawa Ya Cash’ business competition with start-up capital.
After 15 exciting weeks of intense competition involving over 30,000 applications, 15 competent business ideas have been selected and each rewarded with Shs5million as start up capital at the just concluded Sawa Ya Cash business competition.
‘Sawa Ya Cash’, literally meaning “Cash hour” is the first edition of a local reality TV series in which locally trained entrepreneurship candidates competed to win a cash prize for their business start-up Capital. The shows have been running for a period of 15 weeks.
Speaking during the grand finale event at Hotel Africana, Mr. Mazen Mroué, MTN Uganda’s Chief Executive Officer said, “MTN is proud to use its position as the number one corporate citizen to support government initiatives in various areas; including SMEs which play a very critical role in the development of the national economy”.
Inspire Africa, a human capital development organization partnered with MTN Uganda as its executive sponsor, and Bank of Africa to produce the popular TV show. MTN Uganda has invested Shs182million in the partnership to support raising entrepreneurs to fully develop their enterprises.
In the last two years alone, MTN Uganda has invested over Shs1billion in business support to the SME sector through financing business management skills training initiatives including the Annual SME Business Management training in partnership with KPMG.
In the last 15 years of operation in Uganda, MTN’s total investment made has exceeded Ugx.1.5 Trillion.
“We have created opportunities for Ugandans to start and grow in business by partnering with us in our sales and distribution activities, and through MTN Mobile Money Services, as well as in several other areas like supply chain” said Mroué.
Mroué further explained that it is because of the phenomenal growth in the SME sector over the years that MTN has chosen to consistently come out to support the sector.
“MTN’s partnership with Inspire Africa and Bank of Africa is another demonstration of our commitment to empowering our customers’ in order to make their lives a whole lot better,” he said.
The event was graced by His Excellency the President of Uganda, Mr. Yoweri Kaguta Museveni, and the Prime Minister Hon. Amama Mbabazi, Hon. Mary Karoro Okurut Minister of Gender, Labour & Social Afairs and several dignitaries.
The CEO of Inspire Africa Mr. Nelson Tugume said that “Sawa Ya cash is part of a larger vision of Inspire Africa to stimulate entrepreneurship amongst the youth not only in Uganda but across Africa.”
“Like with investments in technology, we pledge to continue supporting government efforts in developing this economy, as well as supporting our customers with critical skills, products and technologies that will propel their enterprises to the next level.” said Mroué