Entrepreneurs and business organizations engaged in electronic and mobile commerce have been urged to develop a reliable, ingrained culture in order to benefit from the ever growing technology.
Interfacing with Ugandan bank executives, who are all providing agent, mobile banking and electronic wallet and internally using outsourced electronic software, the owners of technology companies said technology is not an automatic assurance of business success but the planned outlook is also important.
Paul Mbuga, the Managing Director of Kenyan founded financial technology firm, Eclectics International, emphasized that technology is meant to ease the process, save time, encourage innovation and related activities.
“Technology has to a very large extent revolutionized business and registered numerous financial and capability achievements but it is not an automatic guarantee,” said Mbuga.
In April 2017 Uganda Bankers Association, with the membership including DFCU bank, signed a partnership agreement with Eclectics International to establish a centralized digital platform enable banks integrate agency banking.
Two years down the road, Mbuga appealed to his partners to be mindful of the factors that will enhance the benefits of technology application.
“Things like organizational culture are so critical in running business because risks like security are better averted by the designed organizational philosophy including capability to defend, detect and recover in case of cyber breach,” added Mbuga.
Meanwhile participants asked technology players to also focus on small scale farmers since agriculture remains number 3 in terms of trade volumes in Africa. In Uganda, for instance, 68% of the population is dependent on subsistence agriculture.
Jean Swart and Danie Thom from the American open-source software multinational company, Red Hat, said technology adaptation and continuous research should be prioritized for other sectors to also benefit from technology.
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