CATAPULT: Inclusion Africa Program 2020 has announced two Nigerian fintech startups to proceed among 11 selected startups. Esusu and PaddyCover- the two Nigerian fintech startup that would participate in the Catapult: Inclusion Africa Program 2020.
Following the success attained by these 11 startups in Catapult: Inclusion Africa Program 2020, they are set to proceed to Luxembourg for a 1-week training and networking Bootcamp on the 1st – 8th of March 2020.
One of the major aim of this program is to improve financial inclusion in Africa. The program is set to empower the startups, hence, equip them with the capital and basic knowledge to move towards achieving the set target.
The program is developed by the Luxembourg House of Financial Technology (LHoFT) and it’s basically focusing on companies that are filling the gaps on financial inclusion in Africa. The program is aimed to build bridges between Africa and Europe, highlighting their initiatives and very much aligned with the sustainability goals of Luxembourg’s finance center.
The principal idea of Catapult: Inclusion Africa Program is to provide support to promising Fintechs for Financial Inclusion startups and help them move to the next stage of their development in Africa and Europe.
Below are the African fintech startups selected for the Catapult: Inclusion Africa Program 2020.
1. Esusu – Nigeria
Esusu Africa Limited is tackling the problems of informal savings schemes across Africa. They do this through ELECTRONIC ESUSU, a digital platform designed to simplify thrift savings, collections, and micro-credit towards enhancing the delivery of digital financial services to the last mile.
2. PaddyCover – Nigeria
PaddyCover is an insurance service aggregator and technology company, powering affordable ‘pay-as-you-go’ insurance in Nigeria and Africa by working with established insurers and customer aggregators to offer a multi-channel platform that facilitates flexible and convenient payment.
Other startups involved and their countries are listed below:
3. Eversend – France
4. Exuus – Rwanda
5. CinetPay – Côte d’Ivoire
6. A-Trader – Tanzania
7. Dundiza – Tanzania
8. People’s Pension Trust – Ghana
9. Pezesha – Kenya
10. SympliFi – United Kingdom
11. uKheshe – South Africa & UK
This program is developed to equip these startups for the fintech industry and foster financial inclusion across the different continues in Africa!