FAST Accelerator Startup Company KaCyber Technologies Strikes Partnerships with National Social Security Fund (NSSF) and Mastercard Foundation - Fast Accelerator

With a $20,000 grant awarded to KaCyber, the new partnership will offer new answers to Uganda’s public transport menace.  
 

Kampala, Uganda, October 17th, 2022 – KaCyber Technologies announced the company has partnered with National Social Security Fund (NSSF) and Mastercard to offer new answers to Uganda’s public transport woes. KaCyber Technologies, which participated in the FAST Accelerator spring 2022 cohort, aims at making seamless mobility a reality in Africa and beyond.  


KaCyber has piloted its award-winning digital ticketing and payment system with 12 transporters across Africa (including Uganda Railways, Link Bus Services, Star Link Transporters, Friends, KK Coaches, Highway Coaches, Malayika Transporters, Kalita Expeditions, Al-Azhar Transports among others). The Company recently celebrated its 6th year anniversary and hit a milestone of 10 million travel Bookings on trains and buses, valued at UGX 194 billion / 54 million USD. 


KaCyber Technologies was one of the 12 selected startups out of 800+ applications to participate in the FAST Accelerator program. Through the partnership of Microsoft and Flapmax, FAST Accelerator identifies and supports African innovators building for sustainability at scale – from SMEs and large Enterprises to Governments and Communities. After the inaugural cohort, FAST Accelerator Founder Series was formed to amplify the stories of startups from across Africa, share how their founders are leveraging technology to scale sustainable operations and foster a global community of entrepreneurs that inspire innovators all over the world.  


Under the auspices of Stanbic Business Incubator, KaCyber Technologies recently joined the Hi-Innovator Initiative, an initiative of the National Social Security Fund (NSSF), in partnership with the Mastercard Foundation implemented by Outbox which supports small and growing businesses by extending catalytic seed funding, building the capacity of entrepreneurship support organizations to provide quality technical assistance and working with financing institutions to unlock affordable patient capital so that they can become more competitive.  


“This opportunity will level the hardships that travelers face in accessing safer, transparent, affordable, and greener public transport services that eliminate carbon emissions in Africa, ” says Innocent Orikiiriza, KaCyber Founder & Chief Executive Officer. We further believe that this intervention will make the public transport sector more inclusive for youths and women by widening their mobility choices thereby removing any barriers to safe public transport”. 


While there is already some self-organization within the public transport sector in Uganda, offering a reliable digital mobility solution will create confidence in the transport sector, increasing revenue for transporters and promoting greener journeys within public transport. Hence contributing to Kampala’s smart city agenda. 


The company was awarded USD 20,000 / UGX 76 million from the NSSF Hi-Innovator Initiative which will enable the team at KaCyber to create more job opportunities for youths and particularly women through its tested business model that demonstrates how it has consistently created and delivered value through its offering. Ultimately, the positive impact of this partnership will cascade into a wider landscape with more transparency and accountability in Uganda’s transport sector.  


Readers may stream Season 1: “Accelerate” of the FAST Accelerator Founder Series via the Flapmax YouTube channel and popular podcast streaming services such as Spotify and Apple Music. 


About KaCyber  

KaCyber helps transport operators build robust digital ticketing and payment systems that generate more revenue while decreasing operational costs. The digital solutions employ an end-to-end deployment whereby the operators can seamlessly monitor passengers who book their travel tickets anywhere at any time. An innovative transit fare collection company providing best-in-class payments as a service solution to agencies worldwide. Convenient, customizable options for passengers to plan, book, and pay for a trip in one transaction. 


About FAST Accelerator  

FAST Accelerator is presented by the partnership of Microsoft and Flapmax with a united goal to identify, support, and upskill African innovators and entrepreneurs building for sustainability at scale. The program combines business development, mentorship, technology integration, funding, and community-building opportunities to enable African startups to scale more rapidly and sustainably. 


About Flapmax 

Flapmax is a data and AI technology company committed to expanding opportunities for technology innovation and implementation worldwide. With its technology accelerator platform, Flapmax encourages collaboration across borders and helps companies measure and optimize AI models and implement digital transformation solutions. Flapmax is creating global partnerships to ignite the local tech industry across Africa and globally. Working with universities around the world, Flapmax is helping connect the next generation of innovators with sustainable technology goals and cutting-edge career skills. 

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