This is a very great innovation, we hope it works perfectly.
Credit: Daily monitor-Uganda
Ugandans can now participate in auctioning online, thanks to a new portal.
Auctions in many parts of the world demand a certain level of physical presence, and according to Mr Trevor Rukundo, the, sales director, DafaBet Uganda, the company wants to bring "consumers and wholesalers as well as manufacturers in one online market space".
The intention, according to Mr Rukundo is for participants to have the luxury of time to make decisions of buying and selling online within a certain time frame.
In these transactions, bid amounts are submitted through mobile money. Each item has a minimum bid requirement and every bid should be higher than the minimum amount required for the particular auction item, by atleast Shs1,000.
"The lowest unique bid wins the auction. Amounts must also be unique and not identical to any other amounts. Auctions close after a specified number of bids have been received and winners are notified," Mr Rukundo added.
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