The LHoFT Foundation as part of its believes that financial technology is crucial to advancing financial inclusion, and empowering groups that have been left behind by the traditional financial system is set to host CATAPULT: Inclusion AFRICA, a unique one week program for Fintech startup development.
The program targets Fintech companies from South Africa, Uganda, Nigeria, Senegal, Tanzania and others that are focused on financial inclusion and keen to build bridges between Africa and Europe.
The event will take place between the 5th and 9th of November at the LHoFT.
The event which seeks to enhance financial inclusiveness is leveraging Luxembourg’s Inclusive Finance and Fintech ecosystems, as well as LHoFT partners, to support the 14 selected firms in developing their businesses and achieving their inclusion goals.
It will also create synergies between them, partners, sponsors, investors, Microfinance institutions (MFI) and Public Financial Institutions (PFIs).
CATAPULT: Inclusion Africa will provide a tailor-made program with intensive mentoring, coaching, peer to peer learning and dedicated workshops for the 14 selected Fintech startups.
The program will include sessions on business mapping, scaling business, understanding and evaluating metrics, investability, risk and capital, legal and marketing.
Several modules delivered by their experienced strategic partners will also focus on the nuances of building business in Africa specifically, with sessions on MFI relations, Blockchain in Africa and market trends and developments in Africa.
Speaking on the event, Nasir Zubairi, CEO of the LHoFT Foundation said: “CATAPULT: Inclusion Africa is the first home grown program of the LHoFT Foundation to focus on Financial Inclusion.”
He indicated that, Luxembourg is the microfinance centre for Europe and as sustainable finance is a core priority of Government; it makes sense to capitalise on the fantastic ecosystem and support available to welcome the outstanding Fintech companies focusing on financial inclusion.
“We are very excited to welcome the participants in few weeks’ time, we and our partners are looking forward to the positive outcomes of this program,” he said.
Romain Schneider, Minister for Development Cooperation and Humanitarian Affairs also added that; “Inclusive Finance is key to allowing people, especially women, to break the cycle of poverty, by creating economic opportunities.
“Today, one of the main changes we see in this sector is the development of digital financial services. Through its striving fintech sector, Luxembourg has a lot to offer in this area.
“Therefore, exchanges between the LHoFT and the broader microfinance ecosystem with upcoming African financial technology companies can facilitate positive and inclusive change.”
The 14 qualified Fintech startups include:
- AKABOXI LIMITED – Uganda
- Akiba Digital – South Africa
- BitValley – Luxembourg
- Four One Financial Services Limited – Uganda
- Inclusivity Solutions – South Africa
- Koosmik Corp – Luxembo
- MaTontine Senegal – Senegal
- NALA – Tanzania
- OKO – Israel
- Ovamba Solutions – United States
- Refuge Network – Malta
- SmartTeller LTD – Nigeria
- Vouch Digital Limited – Uganda
- WeCashUp – Cameroon / France