MTN MoMo Launches Additional Services To Help SA During Challenging Times

MTN’s Mobile Money solution, MoMo, has launched some new functionalities aimed at assisting South Africans during challenging economic times. These include the new food...

Latest Posts

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

Uber Eats Releases South Africa’s Most Loved Traditional Orders

The term local is lekker always rings true in a country as diverse as South Africa, where one is always guaranteed a taste extravaganza....

2021 BMW M3 Competition Sedan and M4 Competition Coupe Revealed

BMW has finally revealed its new M3 and M4 Coupe models that are likely to launch locally towards the middle of 2021. South Africans are...

R1.3 million in prizes up for grabs for fintech firms in Sub-Saharan Africa

Two lucky fintech entrepreneurs in Sub-Saharan Africa are about to get a big boost, as they are invited to join the Fintech Africa 2016 programme. By Staff writer

Village Capital is recruiting entrepreneurs across Sub Saharan Africa for the business development program, which will take place in Nairobi, Lagos and Accra.

Africa is fertile ground for new fintech services which are leveraging the power of communities and social media to make financial services more relevant, while using data to deliver more meaningful financial services on an ongoing basis. For more read: The unstoppable rise of African fintech is rapidly changing the way Africans transact

At the end of the program, two early-stage businesses will be selected by the other entrepreneurs in their cohort to win R1.3 million ($100,000) total in funding.

The mushrooming of new and successful fintech companies on the African continent can be directly linked to innovations that meet the needs of historically under-serviced market – the unbanked.

This has seen fintech itself become a facilitator of economic growth in Africa. It is lowering the barriers to entry for consumers by playing a development role and helping to reduce financial exclusion. And financial inclusion combined with a strong financial sector is the backbone of any thriving economy.

Village Capital, The MasterCard Foundation, and the DOEN Foundation are seeking to identify and support the next generation of fintech entrepreneurs in Sub-Saharan Africa.

These entrepreneurs are innovating in financial technology to increase financial health and improve livelihoods for low-income populations. Examples of this type of initiative include:

  • Increasing the access, relevance, and affordability of savings, credit, payments, and insurance products through leveraging data analytics, blockchain technology, and digital identity verification;
  • Increasing efficiency in supply chains and distribution channels across sectors through better market access, increased price transparency, increased connections to new suppliers, and access to other decision-driving market information; and/or
  • Enhancing livelihoods of low-income small business owners through tools for value-chain tracking, smart logistics, business insurance, working-capital loans, and financial management tools to better handle risk and volatility.

Entrepreneurs will also have one-on-one time with mentors, industry experts, investors, top local business leaders, and potential customers.

Over the past decade, mobile phone penetration and mobile banking have revolutionized the financial services sector in Sub-Saharan Africa. Financial products and services have rapidly grown in reach and sophistication, providing a platform that entrepreneurs can leverage to enable access to a broader range of financial services for traditionally underserved and excluded communities.

Latest Posts

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

Uber Eats Releases South Africa’s Most Loved Traditional Orders

The term local is lekker always rings true in a country as diverse as South Africa, where one is always guaranteed a taste extravaganza....

2021 BMW M3 Competition Sedan and M4 Competition Coupe Revealed

BMW has finally revealed its new M3 and M4 Coupe models that are likely to launch locally towards the middle of 2021. South Africans are...

Don't Miss

Avon Disrupts the Norms to Create Addictive, Rebellious & Fierce “Far Away Rebel & Diva”

Avon breaks all the rules with Far Away Rebel & Diva. The new launch is the next step in the glamorous bold journey of...

Investec Says Union Must Seek Answers For Phantom Shares from Cell C

Investec has told the Information Communication Technology Union (ICTU) to direct its questions about the Believe Phantom Option Share Scheme for Cell C workers to the...

Union Asks If Blue Label Telecoms Is Using Cell C as a ‘Piggy Bank’

The Information Communication Technology Union (ICTU) wants Blue Label Telecoms to explain how the JSE-listed company can zero rate its stake in Cell C...

Workers at Cell C Want Investec to Explain ‘Sudden Devaluing’ of their Share Scheme

The Information Communication Technology Union (ICTU) has asked Investec to explain the ‘devaluing’ of the "Believe Phantom Option Shares Scheme (Believe Share Scheme)" awarded to Cell...

Spotify’s Discover Weekly Playlists Now Sponsored by Telkom South Africa

Global streaming service Spotify is announcing Telkom South Africa as the first local sponsor of the Discover Weekly playlists for South African users. These sponsorship...

Stay in touch

To be updated with all the latest news, offers and special announcements.