AITEC to Showcase Region’s Leading Fintech Innovations At 10th Anniversary Banking & Mobile Money Conference
To mark the 10th anniversary of its Banking & Mobile Money COMESA Conference, AITEC is selecting the region’s 20 most promising and innovative fintech start-ups to demo their products and services at the conference over 30-31 August.
Since 2010 the conference has provided a valuable promotional platform for the region’s fintech start-ups to attract investors, customers and partners. “We are proud of the role the conference has played over the years in connecting young innovators with partners, facilitating their entry into commercial relationships which in several cases have resulted in long-term growth,” said Sean Moroney, AITEC founder and chairman
Examples of a successful start-ups launching themselves at the conference include KopoKopo, PayPal and JamboPay. Liko Agosta, founder of Pesa Pal, praised the role played by the conference. “Before it became fashionable for conferences to showcase fintech start-ups, AITEC invited us to make an Innovator Showcase Presentation in the opening session in 2011 and gave us free exhibition space to network with participants. This lifted our profile in the market and we can trace our current success to that turning point when the market started taking us seriously. We look forward to seeing the new crop of innovators at the conference this year and exploring possible synergies with them.”
The Innovator Pavilion at this year’s conference will be co-ordinated by AITEC Associate Dr Bright Gameli Mawudor. Each participant will be given an opportunity to make a 3-5 minutes elevator pitch in the Fintech Innovation conference session, which VCs, angel investors and heads of innovation at financial institutions will be invited to attend. They will also have space to show case their start up applications to the public.
Applications to participate are invited from start-ups throughout the COMESA region. Participants can email details to firstname.lastname@example.org.
. Innovation Categories
Efma is a very well-known not-for-profit global association, created 45 years ago by banks and insurance companies. Their mission is “content sharing and networking”.Efma brings together more than 3,300 retail financial services companies from over 130 countries (1/3 of the top 100 financial institutions are Efma members) and its members include prestigious worldwide groups such as: BNPP, Deutsche bank, Citi, Santander, Bradesco, OCBC, BBVA, etc.
Efma will launch a new Fintech portal on 14th April 2016, a unique website to facilitate interaction between financial institutions and Fintech companies.
The campaign for Fintech data collection has already started and submission is free of charge.
Efma Fintech portal benefits:
The Efma Fintech portal will be a worldwide repository of leading Fintech solutions and services. It will provide a unique Fintech database: banks will be able to search and have access to the latest information about Fintechs and their solutions. It is being brought to the market in partnership with Microsoft and Avanade.
Moreover, the Efma Fintech portal will serve as a forum for networking and collaboration. It will create leads for Fintechs as a “match-making” service, where banks can post their needs/projects. If a Fintech solution match their criteria, this Fintech will be directly put in contact with the requesting bank.
Furthermore, the related Fintech Awards will highlight the best-in-class Fintech solutions, chosen by a panel of recognized experts (ceremony scheduled for 14 April 2016).
Apply before 29 February 2016 in order to be eligible to participate in the Fintech awards on 14 April 2016.
If you have any question, please send an email
Launching at Nairobi
Village Capital recently launched its FinTech for Agriculture: East Africa 2015 accelerator programme at an event in Nairobi, revealing the cohort of 12 startups selected to participate in the programme.
The three-month accelerator programme aims to unlock innovations that increase access to financial services for smallholder farmers. Village Capital has precommitted US$100,000 in funding to be awarded to two companies in the cohort.
This year the Village Capital flagship accelerator programme returns to East Africa for the third time; with over 125 applications received for the 2015 programme from nine African countries. Village Capital’s investment committee selected the 12 most outstanding startups on the basis of how their ideas have the potential to increase incomes for smallholder farmers by improving their access to financial services.
The 12 startup firms selected to join the three month programme are:
Atikus Insurance: Expands access to credit by increasing the capacity of MSME lenders via reimagined insurance and technology risk solutions.
Chamasoft: Web and mobile app to automate record keeping for investment groups.
Ensibuuko: Builds ICT solutions to enable enterprises deliver financial services efficiently and to scale rapidly, reaching underserved communities.
FarmDrive: Transforming how smallholder farmers access financial services.
Farmerline: Provides accurate and timely agricultural information to farmers and also provides technology to stakeholders to work better.
MShamba: Interactive platform for smallholder farmers and traders.
Mobipay: Technology solutions to various economic sectors to drive commerce and trade.
NanoCredit Technologies: Lending and derisking engines, providing structured digital finance for small farms.
Rangerland Solutions: Online livestock marketing platform that directly connects buyers and sellers, reducing marketing costs.
Redcore Interactive: remit.ug is a platform for online international money transfers to mobile money in Africa.
Smart Money: Freeofcharge branchless mobile banking to unbanked rural communities in Uganda and Tanzania.
Yield Uganda: Sources high quality, traceable food products for local and export markets.
The chosen startups will commence the three month programme focusing on business model canvassing, customer hypothesis testing, financial modeling, partnership and customer development, and investor engagement. The cohort will present to potential partners and customers at a pitch day, as well as pitch to investors at an investor demo day.
Village Capital has precommitted US$100,000 in investment to be shared by two startups in the cohort. The winners of the funding will be chosen by the accelerator participants at the end of the programme in June. Each of the two selected companies will receive US$50,000 in funding.
“Thanks to the pool of talented and innovative startups that applied for a place on our programme from across East Africa, it was a challenging process to select the final 12. We have been truly impressed with the quality of applications received this year,” John Mulqueen, Financial Associate at Village Capital said, speaking at the launch event.
“The Village Capital FinTech for Agriculture programme is great for remit.ug because it provides us and other entrepreneurs with an opportunity to grow, and to help a very critical group of people the financially underserved. We are excited about networking and sharing with other entrepreneurs in the space who are facing the same challenges,” said Stone Atwine, chief executive officer (CEO) and cofounder of Recore International, one of the selected startups.
“Through enabling smallholder farmers to use financial technologies, Africa’s agripotential will surely be unlocked. We at Mobipay are very excited to be involved in the Village Capital programme, which will be a key player in realising Africa’s potential,” said Charles Kiinde, founder of Mobipay.
What is expected of the programme graduates?
Programme graduates are expected to increase their revenue growth by 4.5 times, and distribute goods and/or services to 200,000 customers within the two years following completion of the accelerator. Village Capital estimates the companies forming the cohort will create 200 jobs over the next two years in East Africa, with an estimated 60% of jobs going to individuals living below the poverty line.