RWANDA – Co-Creation Hub, in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation is excited to announce the nine startups selected for the Fintech Incubation Programme.
The Fintech Innovation Project consists of the Fintech Incubation Programme and other developmental programmes.
The programme is part of the ongoing efforts to turn Rwanda into the Fintech hub of Africa with Mojaloop as the national payments switch.
Mojaloop was designed to provide a reference model for payment interoperability that can be used to overcome barriers that have slowed the spread of digital financial services.
Whole, adapted, or as a blueprint – the Mojaloop Foundation’s open-source software can be used by organisations to build interoperable, digital payment systems that enable seamless, affordable financial services between individual users, banks, government entities, merchants, mobile network operators, providers, and technology companies – connecting the underserved with the emerging digital economy.
The Fintech Incubation programme aligns with Rwanda’s ambition to drive inclusive economic development by leveraging technology.
Among the selected startups are; KudiBooks, a payment and accounting software for non-finance and non-accounting professionals targeting SMEs across Africa.
Food Bundles, a leverage digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce.
Quiqpay; powering digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce.
Bafana.io, this amazing startup is giving over 1200 African artists and creatives a personal page where they can easily share their work and a digital wallet to collect tips/payments from their fans around the world.
Uplus Mutual Partners, a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.
PesaChoice, a financial technology company that focuses on data-based lending. The startup offers short term loans without the requirement of collateral.
CentWise, it aims to unlock financial access for micro traders such as street vendors and hawkers by building alternative collateral products.
PayingTone, a marketplace that provides ecologically trackable products and services on credit.
Exuus, a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology.
Co-creation Hub (CcHUB) launched Nigeria’s first open living lab for technologists, entrepreneurs, tech companies, investors and hackers in 2010 to accelerate the application of social capital and technology for economic prosperity.
The hub has since expanded to include an umbrella of pan-African innovation enablers that includes the CcHUB Design Lab in Rwanda iHub and eLimu in Kenya, Growth Capital by CcHUB and CcHub Syndicate.
Over the next three months, CcHUB will be supporting the 9 selected startups to achieve product stability and scalability, market readiness and investment.
They will be able to leverage mentorship from industry and domain experts while taking advantage of Google products and Mojaloop. This first cohort of the program will conclude with a demo day in July, 2022 where the startups will present to investors through the CcHUB syndicate.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
