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New Initiative Launched to Acknowledge Financial Inclusion in African Tech

Tech Gist Africa by Tech Gist Africa
02/21/2019
in Africa News, News, Opportunities, World News
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New Initiative Launched to Acknowledge Financial Inclusion in African Tech
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The MetLife Foundation and Visa have partnered to fund the Inclusive Fintech 50 competition. This aims to recognize the world’s top 50 early-stage fintech startups that contribute to financial inclusion in the world.

Fintechs in advanced or emerging markets that offer credit, insurance, payments & remittances, savings & personal financial management or infrastructural solutions addressing special challenges of underserved customer segments.

The competition will be implemented by MIX, the global data resource for socially responsible investors and businesses focused on inclusive finance, in partnership with global non-profit organization, Accion and the World Bank global development institution IFC.


See also: FSD Opens Submission for US$130,000 Startup Grant in DRC


In a statement on Monday (11 February), Visa global head of social impact Marianne Mwaniki said the initiative will help investors identify “high-potential” companies. This in turn, will help those companies attract the capital and knowledge they need to scale their businesses for “maximum social impact”, she said.

Startups will be assessed by a panel of more than 20 industry experts and investors on inclusive solutions and innovations in their business models. Startups can build global profiles in front of leading investors and partners that can help them scale. The panel will select the winners.

Deadline for application is March 8, 2019. Judges will select winners in May 2019 and the winners will be announced in June 2019. Click here to apply.

More on TechGist Africa:

  • Jack Ma Announces $10m Netpreneur Prize for Africa Startups
  • Publiseer wins Startup World Cup Nigeria Finals
  • Africa Fintech Foundry calls for $10,000 Pitch Submission
  • E-ID Card Payment in Nigeria to Commence 2022
  • E-payment Transactions in Nigeria Hits N56.85 Trillion
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