The Luxembourg House of Financial Technology (LHoFT) has announced the ten fintech firms selected to participate in the sixth edition of the CATAPULT: Inclusion Africa programme.
Building on the success of the CATAPULT: Inclusion Africa programmes since 2018, the sixth edition of this fintech startup development programme will take place from 16 to 20 October 2023 in Lomé, Togo.
The Catapult: Inclusion Africa programme will run in conjunction with African Microfinance Week, providing networking opportunities for the selected firm. For this edition, and for the first time, the programme will be in French.
The Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg's Ministry of Foreign and European Affairs supports and collaborates with the LHoFT Foundation to develop a programme targeting companies focusing on financial inclusion in Africa. The programme aims to build bridges between Africa and Europe while highlighting the alignment of their initiatives with the sustainability objectives of Luxembourg's financial centre.
In this 6th edition, CATAPULT: Inclusion Africa once again harnesses Luxembourg's Inclusive Finance and Fintech ecosystem actively to support selected firms in developing their businesses and achieving their inclusion goals. The LHoFT team actively collaborates with high-profile key partners from Ada, Infine, Luxembourg for Finance, the Alliance for Financial Inclusion (AFI), the European Investment Bank (EIB), Luxembourg Microfinance and Development Fund, Bamboo Capital Group, MMD-Ventures, SPTF, LuxDev, Amarante Consulting, e-MFP, GGGI, CGAP, LMDF, ACRC and more throughout the programme to work with the cohort.
CATAPULT: Inclusion Africa aims to provide a tailor-made programme with intensive mentoring, coaching, peer to peer learning and dedicated workshops for the selected fintech startups. The programme will include sessions on business model mapping, investment readiness, funding and capital raising, social impact, scaling strategy, building teams and other strategic sessions. Several alumni of the previous years’ programmes will travel to Togo to share their experiences with the 2023 cohort.
The ten fintech startups selected to participate in the 2023 edition of CATAPULT: Inclusion Africa are:
• Amira Global Technologies specialises in digital transformation and offers social impact solutions through its online payment solution, Payment Pro. This allows businesses to accept mobile and electronic payments in several African countries and leverage the generated cash flow to apply for loans.
• Ca pay is a web-based payment platform aiming to provide easy access to financial transactions for those excluded from the traditional financial system. Its Capay web platform enables companies to make various payments, such as salaries and subsidies, using mobile money for their unbanked employees.
• Cova Africa is an insurtech company focused on French-speaking Africa. It facilitates the distribution of insurance in the region by offering digital marketing solutions for tailor-made insurance products through partnerships with other sectors.
• Dreamcash's MiQo is a neo-microfinance service that provides a fully digital bank account to unbanked and underbanked individuals in French-speaking Africa. It offers various financial services, including instant credit lines, contactless payments and personalised financial education.
• Kola Group is a digital microfinance company serving unbanked individuals and small and medium-sized enterprises in sub-Saharan Africa. It provides credit and payment solutions through digital solutions, using a proprietary credit scoring model based on behavioural and financial data.
• Microfinance offers a SAAS solution that helps Microfinance Institutions (MFIs) collect money and enables MFI customers to access their accounts and perform money transfers easily via their mobile phones.
• Orya Technologies is an African fintech serving as an Application Provider Interface provider for financial services. Their Fintra product automates salary advance requests and offers a financial management system for employees, while maintaining control and not impacting companies' cash flow.
• Rubyx is a data-driven fintech providing credit solutions for service providers in emerging markets. Its platform aims to bridge the funding gap faced by informal entrepreneurs and small businesses, offering various modules and channels for information access.
• ToumAI offers a SaaS Data Analytics platform that collects and analyses local data in Africa, aiming to empower local communities and provide data for international investors. It uses generative AI and dynamic indicators to offer decision-making support mechanisms.
• Wajenzi is a digital marketplace connecting African SMEs with investors from the EU and the US in exchange for equity stakes. Their goal is to promote financial inclusion and enable African SMEs to raise funds for their development.
For more information about the programme, visit: https://lhoft.com/catapult/africa-togo-edition/.
