SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home Trending News

Nigeria’s Sosocare, Alajo and 13 other African startups selected to join the 2022 Catapult Inclusion Africa

Ruth Okwumbu-Imafidon by Ruth Okwumbu-Imafidon
October 24, 2022
in Trending News
0
acceleration orogram
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Out of over 400 startups, Nigeria’s Alajo and Sosocare and 13 other startups were selected by the Luxembourg House of Financial Technology Foundation (LHoFT) to participate in the 2022 catapult inclusion program.

The 15 Fintech startups are  AFRICRED (Mali), AgrixTech (Cameroon), Alajo (Nigeria), ChapChap Africa (Uganda), ComGrow (Zambia), Radava Mercentile (Kenya), Hello Tractor (Kenya), Kayko (Rwanda) Lami Insurtech (Kenya), Nkwa (Cameroon), Proxalys (Senegal), Servichain (Luxembourg), Sosocare (Nigeria), Yalla Solutions (Egypt) and DanAid (Cameroon)

The 2022 edition, which is also the fifth edition of the acceleration program has focused the light on startups driving financial inclusion and keen to build bridges between Africa and Europe, as it aligns with the sustainability goals of Luxembourg’s finance centre.

Developed by the LHoFT Foundation and sponsored by the Ministry of Foreign & European Affairs – Directorate for Development and Humanitarian Affairs, the program targets companies focusing on financial inclusion in Africa, aiming to build bridges with Luxembourg’s Microfinance and broader finance industry while highlighting their initiatives in alignment with the sustainability goals of Luxembourg’s finance center.

The LHoFT team will be joined by 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, Double Feather Partners, SPTF, LuxDev, Business Partnership Facility, ACRC, Compelio, and more, who will be working with the cohort throughout the program.

The one-week acceleration program takes off today October 24, 2022 in a key leading Microfinance center in Luxembourg and last till 28th October 2022. CATAPULT: Inclusion Africa will cover a range of broad topics, including business model mapping, scaling strategies, investability, business plan presentation, legal strategy, pricing, marketing strategy, and more. The selected Fintech will have the opportunity to connect with partners, sponsors, investors, Microfinance institutions (MFI) and Public Financial Institutions (PFIs), and also get InFiNe.lu mentorship.

  1. AFRICRED (Bamako, Mali) – founded in 2020, is a platform of the fintech AFA Digital Finance and an African fintech solution. Africred is providing digital finance solutions to microfinance, micro-insurance to unbanked and MSME companies across Africa.
  2. AgrixTech (Yaounde, Cameroon) – founded in 2018, is an Agri-FinTech company that assists small-scale farmers in transitioning from subsistence farming to commercial farming while maximising profit.
  3. Alajo (Lagos, Nigeria) – founded in 2021. A personal finance platform that is designed to be the smart solution to the traditional savings system for the under(un)banked and non-smartphone users, using USSD and SMS Infrastructure.
  4. ChapChap Africa (Kampala, Uganda) – founded in 2016, provides financial digital solutions to African MSMEs by helping informal entrepreneurs to establish new business lines.
  5. ComGrow (Lusaka, Zambia) – is a fintech startup that digitises informal savings and credit groups among friends and family networks
  6. Radava Mercentile (Nairobi, Kenya) – founded in 2021. Is empowering empower smallholder farmers in Sub-Saharan Africa with an agricultural commodities exchange market, alternative financing, and post-harvest technologies.
  7. Hello Tractor (Nairobi, Kenya) – founded in 2014, is a PAYG loan technology finance company that enables low-risk, lower-cost financing for rural entrepreneurs while de-risking the creditor through tractor investments into pre-booked assets.
  8. Kayko (Kigali, Rwanda)- assists small businesses in streamlining their financial administration and providing simple access to financial services with its mobile app.
  9. Lami Insurtech (Nairobi, Kenya) – founded in 2018, is set to revolutionise insurance for African underwriters and businesses through an end-to-end insurance platform and robust APIs.
  10. Nkwa (Buea, Cameroon) – a personal finance tool that allows users to plan, save, and invest their money.
  11. Proxalys (Dakar, Senegal) – digitising West African informal trading by allowing local store owners to purchase agricultural products as well as consumer goods at the highest quality/price ratio possible, with the option to pay in instalments.
  12. Servichain (Luxembourg, Luxembourg) – solves financial inclusion and identification issues on blockchain addresses using mobile phones and its web3 mobile wallet.
  13. Sosocare (Abuja, Nigeria) – a health insurtech startup using recyclable waste as the financial resource to allow millions of uninsured slum residents, primarily pregnant women and children, to acquire micro health insurance across over 1000 hospitals around the country.
  14. Yalla Solutions (Cairo, Egypt) – democratizes access to financial services to the masses using digital-first, user friendly experience in the form of a card + Super App.
  15. DanAid (Douala, Cameroon) – a micro-health insurance platform that provides Africans in the diaspora with real-time access to money for their care through their mobile.

CATAPULT Inclusion Africa provides a tailor-made program with intensive mentoring, coaching, peer to peer learning and dedicated workshops for the selected Fintech startups. The program will include sessions on business model mapping, investment readiness, funding and capital raising, social impact, scaling strategy, building teams, operational management, advisory meetings with investors, and pitch development. Several alumni of previous year’s programs will travel to Luxembourg to share their experiences, delivering educational sessions and mentoring to the 2022 cohort.

In addition, for this year, the selected firms will actively participate in the Arch Summit on 26 and 27 October. The Summit organisers, Tomorrow Street (Vodafone) have centered the Summit’s program around three core themes: Digital Society – connecting people, communities, and things for a smarter digital lifestyle; Inclusion – enabling an accessible digital future for all; and Planet – reducing environmental impact and achieving a sustainable future.

 

Tags: AlajoLHoFT 2022 Catapult acceleration programSosocare
Previous Post

10 Small Hustle ideas for teenagers and young adults in Nigeria

Next Post

20 people to get N68 million in the MTN 'Blow My Hustle' Initiative

Ruth Okwumbu-Imafidon

Ruth Okwumbu-Imafidon

Related Posts

FG Searching For Nigerian Researchers To Help Create National AI Strategy
Trending News

FG Searching For Nigerian Researchers To Help Create National AI Strategy

by Blessing Osazuwa
August 28, 2023
0

The Federal Government has said it is seeking top researchers of Nigerian descent from across the globe to help the...

Read more
SMEDAN
Trending News

SMEDAN, Nimbus Media To Support Women-owned Businesses With N40m

by Blessing Osazuwa
August 24, 2023
0

Nimbus Media Ltd and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have jointly announced the opening of...

Read more
FCMB Extends N10m Renewable Energy Loan to Small Enterprises, Others
Trending News

FCMB Extends N10m Renewable Energy Loan to Small Enterprises, Others

by Blessing Osazuwa
August 14, 2023
0

Nigerians seeking green energy solutions like solar panels and batteries can now access up to N10 million through FCMB Energy...

Read more
We did not register ‘Wickedness Association’ as a business entity, Says CAC
Trending News

How To Stay Registered With CAC, Avoid Being Delisted

by Blessing Osazuwa
August 3, 2023
0

In Nigeria, business owners have a legal obligation to register their ventures with the Corporate Affairs Commission (CAC), the government...

Read more
KreAfrika To Empower Africa’s Cultural Sector through Entrepreneurship and Financing Training
Trending News

KreAfrika To Empower Africa’s Cultural Sector through Entrepreneurship and Financing Training

by Blessing Osazuwa
July 31, 2023
0

Senghor University, the French Development Agency and Trace Academia have launched the KreAfrika project to support and train professionals of...

Read more
2023 Report: Lagos Emerges as Leading Startup Ecosystem
Trending News

2023 Report: Lagos Emerges as Leading Startup Ecosystem

by Blessing Osazuwa
July 27, 2023
0

According to a 2023 global startup ecosystem report by Startup Genome, Lagos, has achieved significant growth, becoming the regional leader...

Read more
N700/Litre? Petrol Marketers & Distributors React
Trending News

Fuel Price Hike Threatens Closure of Small Businesses, Sparks Job Loss Concerns

by Blessing Osazuwa
July 27, 2023
0

The Organised Private Sector of Nigeria is deeply concerned about the potential complete closure of numerous small businesses and the...

Read more
Load More
Next Post
MTN Blow my hustle

20 people to get N68 million in the MTN 'Blow My Hustle' Initiative

Please login to join discussion

Recent News

5 Practical Ways To Turn Your Biggest Client into Multiple Big Clients

5 Practical Ways To Turn Your Biggest Client into Multiple Big Clients

September 20, 2023
How to steal your competitors’ future customers

How to steal your competitors’ future customers

September 15, 2023
There’s Still Hope: 4 Ways To Cut Your Losses

There’s Still Hope: 4 Ways To Cut Your Losses

September 15, 2023
4 Tips That Will Change The Way You Pitch Your Business To People

Meetings aren’t always necessary. Here’s when to opt for alternatives

September 13, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur