Nigerian Esusu, PaddyCover to join 9 African Fintech startups for CATAPULT programme
Two Nigerian Fintech companies; savings startup Esusu and insurtech startup PaddyCover has been selected to join nine others from Africa to attend the 2020 edition of the CATAPULT programme.
CATAPULT is a 1-week training and networking boot camp for Fintech companies working to develop financial inclusion in Africa.
Developed by the LHoFT Foundation, this year’s edition of the programme which helps Fintech companies focusing on financial inclusion to scale will take place in Luxembourg, Europea between 1st of March 2020 to 8 March 2020.
Building on the success of its 2018 edition, CATAPULT: Inclusion Africa aims to build bridges between Africa and Europe.
The programme 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,” LHoFT Foundation said on its website.
with the objective to highlight and promote synergies, collaboration and potential partnerships between the participating Fintechs and international institutions, the programme aims to provide the selected startups with access to a tailor-made program with intensive mentoring, coaching, peer-to-peer learning and dedicated workshops.
According to the LHoFT Foundation, the boot camp will support the promotion of Fintech for Financial Inclusion topic to the broader Responsible Finance sector in Luxembourg and beyond, to include PFIs, MFIs, Fund Managers, Philanthropists, Advisory and Support firms.
Other African startups that made the list include two from Tanzania – investment robo-advisory platform A-Trader and digital wallet Dundiza. Seven other countries are represented, in the form of Ivory Coast-based payments startup CinetPay, Ugandan payments startup Eversend, Rwandan savings startup Exuus, Ghanaian pensions startup People’s Pension Trust, Kenyan digital financial marketplace Pezesha, South African payments startup uKheshe, and UK-based financial services marketplace SympliFi.
“Travel and accommodation costs for the participating Fintech companies will be covered,” LHoFT Foundation assured.
The boot camp aims to also promote and draw attention to the importance and value of Fintech for Financial Inclusion, through local and international media exposure, with the focus to bring attention to the initiatives that are driving positive change in Africa.
Some of the criteria for selecting the eleven startups as stated by LHoFT Foundation included companies with clear financial inclusion focus that ideally provides the solution that is directly beneficial to work in partnership with a traditional financial institution and/or MFI/PFI.