Twelve African fintech startups have been selected to take part in the third edition of CATAPULT: Inclusion Africa, which helps to scale companies focused on financial inclusion.
The programme targets companies focused on financial inclusion in Africa, aiming to build bridges between Africa and Europe, highlighting their initiatives and very much aligned with the sustainability goals of Luxembourg’s finance centre.
Fourteen startups have been selected to take part in the programme, 12 of them from Africa. They include four from Kenya, in the shape of Kotani Pay, RePay.Africa, Asilimia and Vooli, and three from Nigeria, namely Abawah, Igugu Global and Crop2Cash.
Also selected are Uganda’s Emata, Ivory Coast’s Moja Bank, Sierra Leone’s Mosabi, Tanzania’s Mipango and Ghana’s Nokwary Technologies, while the cohort also includes Israel’s Chromepay and France’s Juakali.
CATAPULT: Inclusion Africa will once again leverage Luxembourg’s Inclusive Finance and Fintech ecosystems, as well as LHoFT partners, to support the selected firms in developing their businesses and achieving their inclusion goals, creating synergies between them, partners, sponsors, investors, Microfinance institutions (MFI) and Public Financial Institutions (PFIs).
It will provide a tailor-made program with intensive mentoring, coaching, peer to peer learning and dedicated workshops for the selected startups. The programme will include sessions on business model mapping, investment readiness, funding and capital raising, social impact, scaling strategy, building teams, operational management, and pitch development.
Focusing this year on investment readiness, the ventures will be supported by investors operating in Africa such as Bamboo Partners, TLG Capital, ZedCrest Capital, Rising Tide Africa, Outlierz, Angaza Capital, Anza Capital, Baobab Group, Beyond Capital, Advans, CRE VC, DRK Foundation, AfricInvest, Triodos Capital, Sherpa Africa Partners, and others.