CATAPULT: Inclusion Africa, developed by the LHoFT Foundation, aims to make a real difference in Africa’s financial inclusion by educating people, knowledge and communicating to participating firms, utilizing Luxembourg’s experienced ecosystem of business owners, finance professionals, and financial inclusion and impact specialists.
The Ministry of Foreign & European Affairs – Directorate for Development and Humanitarian Affairs is sponsoring this special edition of CATAPULT: Inclusion Africa in Dubai, with assistance from the Alliance for Financial Inclusion and other crucial organizational partners such as ADA, AFI, InFine, DIFC FinTech Hive, PwC, Luxembourg Microfinance, and Development Fund, Luxembourg For Finance, Dubai UAE Expo 2020, and Compellio.
The selected fintech are:
Social Lenders (Nigeria)
Social Lender is a mobile, online, offline, and social community-based digital financial service solution based on social reputation.
People with limited access to traditional financial institutions will benefit from Social Lender’s instant access. Each user is assigned a Social Reputation Score by Social Lender, which employs its own proprietary technology to conduct a social audit of the individual across mobile, online, offline, and social platforms.
The user’s social profile and network guarantee financial services. Users can get credit, savings, leasing, and other services from banks and other businesses depending on their social reputation.
Since 2015, MamaMoni has been assisting low-income and marginalized women. Through its Shesabi App or offline training for those without smartphones to access the Shesabi App and website, the fintech provides them with digital skills, financial literacy, skill-based and business training.
In collaboration with donor organizations, corporate firms, international organizations, NGOs, governments, and other partners, MamaMoni also provides grants (cash transfers) and other support to low-income women.
Halal Payment (Nigeria)
Halal Payment aims to provide financial tools and resources to small enterprises and underbanked areas.
eAgro is a fast-growing firm with a goal to provide smallholder farmers with affordable technology that promotes inclusiveness.
This is accomplished using eAgro’s credit scoring system and Crop Fix, a crop disease diagnosis technology.
VIRL Rural & financial Services ( Zimbabwe)
VIRL’s financial inclusion mandate has centered on rural financing, with a particular interest in connecting excluded and vulnerable women and youth to enterprises that create jobs and reduce migration.
VIRL has collaborated with development partners in Zimbabwe’s rural communities in order to expand the business. VIRL worked together by incorporating microcredit into their programming.
eMaisha Pay (Uganda)
Through a secure mobile platform and an alternative credit scoring system, eMaisha Pay provides SMEs with access to rapid, affordable, and non-collateral working capital loans to engage in business growth.
The goal of the startup is to make it possible for any entrepreneur with an idea to create a business and contribute to the creation of jobs and the betterment of human life on the planet.
International Airtime Top-up (Uganda)
With over 80 destination currencies enabled, the International Top-Up Gateway (technology) can integrate cross-network/border airtime, mobile money, and bank low-cost transfers all across the world.
It primarily provides airtime, money transfers, and cash collection services to and from African corridors.
Motito is on a mission to improve the financial health of all Africans by fostering financial inclusion and increasing access to credit across the continent.
The company is a “buy now, pay later” platform that offers 0% interest credit at the point of transaction.
Akiba Digital (South Africa)
Akiba is a small business credit rating software that uses an alternative scoring model. Small businesses and society will benefit from the startup’s improved credit scoring system.
Damansah (Ivory Coast)
Small and medium businesses help African communities prosper economically. Entrepreneurs, on the other hand, find it difficult to organize themselves in order to assure their long-term viability.
Damansah Inc, a company that uses technology to assist entrepreneurs to expand their businesses, was founded in response to this large-scale challenge.
Professional speakers and mentors from Luxembourg and the United Arab Emirates will assist the chosen firms in developing their businesses and accomplishing their inclusion objectives over the course of the three-day program, fostering synergies among them, their partners, sponsors, investors, microfinance institutions, and public financial institutions (PFIs).
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