At the LHoFT, we strongly believe that financial technology is crucial to advancing financial inclusion, empowering groups that have been left behind by the traditional financial system. Whether it’s financing for rural farmers, point of sale technology for underbanked merchants, or specialised insurance products, the positive impact being driven by entrepreneurship is improving lives around the world.
Building on the success of previous experience, CATAPULT: Inclusion Africa is a unique program of Fintech development from the LHoFT, aligned with sustainability goals of Luxembourg’s finance centre. CATAPULT: Inclusion Africa will leverage Luxembourg’s Inclusive Finance and Fintech ecosystem to support the 14 selected firms in developing their businesses and achieving their inclusion goals
November 5 - 9
Application deadline is Tuesday, 25th of September. Travel and accommodation costs will be covered for participating Fintechs.
► Luxembourg is the European leader in responsible investment fund assets, accounting for 31% of funds and 39% of all assets under management, and has an extensive ecosystem of supporting initiatives and institutions
► The Luxembourg government is committed to the eradication of extreme poverty and support for sustainable development
► Luxembourg has exceeded official development assistance aid donations set by the UN’s Millennium Development Goals, committing an average 1% of gross national income over the past 5 years
► Luxembourg facilitated the establishment of the European Microfinance Platform and has spearheaded field research in the inclusive finance sector
► The Luxembourg government, together with the European Investment Bank and six other partners from the civil and private sectors, set up a Responsible Investing fund labelling agency, LuxFLAG
► Fintech in financial inclusion is a strategic focus area for the LHoFT aligned with the goals of Luxembourg
► The 2018 European Microfinance Award on “Financial Inclusion through technology” will be delivered on the 15 of November in Luxembourg
1 week training and networking Bootcamp, hosted in Luxembourg in November 2018, for 14 Fintech firms working to improve financial inclusion in Africa.
The Bootcamp will leverage Luxembourg's Inclusive Finance and Fintech ecosystem to support the 14 selected firms in developing their businesses and achieving their inclusion goals.
Fintech as a tool to bolster financial inclusion by helping banks and microfinance institutions to become more efficient and effective in reaching underserved market segments.
Building on the success and experience of the Fincluders bootcamp in 2017, Catapult Inclusion Africa is a unique program aligned with the sustainability goals of Luxembourg's financial centre.
Delivered in collaboration with key stakeholders from the microfinance, sustainable finance and traditional finance sectors.
Participate in CATAPULT: Inclusion Africa.
If you're interested in being a mentor during the program, get in touch with the contact information below.
The 14 Companies
After a month-long application process, we were amazed at the number and quality of applications from across the world - and specifically from Africa. Making the final selection was naturally a challenging process, but the following 14 companies were outstanding in a variety of ways:
► AKABOXI LIMITED – UGANDA
Akaboxi provides rural communities with a more secure way of keeping smallholder farmers' savings managed and monitored by the use of a digital and inclusive system, replacing the rudimentary way of keeping money in boxes and in people’s homes.
► AKIBA DIGITAL- SOUTH AFRICA
Akiba is a mobile savings app that helps tech savvy millennials save using alternative and behavioural data. The gamified savings experience makes it fun and rewarding, with an AI bot that's there to educate, nudge and provide insights to our savers to ensure they realise their goals.
► BITVALLEY – LUXEMBOURG
Luxembourg Fintech award’s winner for Financial Inclusion, IBISA is a risk-sharing microinsurance alternative targeting small farmers worldwide. IBISA is based on a peer-to-peer architecture supported by blockchain and Earth Observation technology.
► FOUR ONE FINANCIAL SERVICES LIMITED - UGANDA
Four One Financial Services Limited’s offerings include the first micro-pension scheme, followed by building the Mayicard Platform which makes access to healthcare insurance and/or prepayments and access to assets like land and housing possible.
► INCLUSIVITY SOLUTIONS - SOUTH AFRICA
Inclusivity Solutions designs, builds and operates digital insurance solutions for emerging markets with the aim of protecting and enhancing the quality of life of vulnerable people. It provides complete solutions to introduce and grow sustainable inclusive insurance markets.
► KOOSMIK CORP – LUXEMBOURG
Koosmik provides a mobile banking application to the young or more generally unbanked population in Western Africa. Users get a free mobile wallet as a hub of services: cash deposit and withdrawal points, bills payment, mobile payment, social credit, insurance or remittance.
► MATONTINE SENEGAL – SENEGAL
MaTontine provides access to small loans and a range of financial services like micro-insurance for the financially excluded in Francophone Africa. Trying to solve the large and complex problem of how to lend small amounts profitably and at scale to the millions of financially responsible Africans.
► NALA – TANZANIA
NALA is a mobile money application offering a single, unified wallet for transactions that functions without a data connection over 2G signal and providing users with an accurate breakdown of their spending habits.
► OKO – ISRAEL
OKO creates and distributes affordable crop insurance products for smallholder farmers in emerging markets. They use satellite imagery and localised weather information to automatically compensate the insured farmers when they identify that they have been affected by a loss of production.
► OVAMBA SOLUTIONS - UNITED STATES
Ovamba provides short-term capital to micro, small and medium sized businesses in Africa, emerging markets and the GCC for trade, inventory purchases and growth. The capital is provided by International investors from the US, U.K. and Japan.
► REFUGE NETWORK - MALTA
Refuge Network is a multidimensional financial ecosystem built on blockchain that uses proven business models of e-commerce and investments to connect displaced and marginalized communities to the global economy.
► SMARTTELLER LTD - NIGERIA
A digital banking platform for Financial coorperatives, smartTeller is bringing access to digital financial services to the unbanked and underbanked by providing cooperatives and microfinance institutions the all-inclusive tool to provide unbanked and underbanked standard financial services.
► VOUCH DIGITAL LIMITED – UGANDA
Vouch Digital builds an online verified digital supply chain platform that among other things helps simplify the distribution of cash in form of digital vouchers meant for purchasing goods or services such as hermetic storage, seeds, fertilizers, medical equipment, oil and gas among others.
► WECASHUP - CAMEROON / FRANCE
WeCashUp enables merchants to accept and disburse payments in Cash, Mobile Money, Bank Mobile wallets, Bank Cards and Crypto-currencies on their web or mobile apps in the 54 African countries via a single API integration.
Do you have any questions or would like to send us a comment?
We look forward to hearing from you.
Sponsors, Mentors & Guests: