Fintech Awards for Financial Inclusion
10 Southern African startups have received awards for their solutions to bridge the gap in financial access for underserved communities as part of the Fintech Challenge organised by the Southern Africa Innovation Bridge Portal supported by the World Bank to crowd-source new and impactful ways to utilise the latest innovations in fintech. The initiative was aimed at providing low-cost and appropriate savings and de-risking products for the low- and middle-income market and lending solutions for SMEs. In all, 10 Southern African startups were each awarded US$5,000 to get their businesses investment-ready. SA was home to 6 of the winning startups, namely abela, Bento Technologies, Fintr, Moya Money, Sum1 Investments, and Thumeza; 2 were from Lesotho – Chaperone and Prime Capital – while there was 1 each from Botswana (Ipachi Capital) and Namibia (FundRoof).
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