9 African fintech startups join Luxembourg-based CATAPULT programme

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The Luxembourg House of Fintech (LHoFT) Foundation has selected 14 startups for its CATAPULT: Inclusion Africa business development programme, with nine African ventures making the cut.

The CATAPULT: Inclusion Africa is a one week programme of fintech startup development, targeting companies focused on financial inclusion in Africa, and keen to build bridges between Africa and Europe.

Sponsored by the Ministry of Foreign & European Affairs and PwC Luxembourg, the programme – which kicked off in Luxembourg today – comprises intensive mentoring, coaching, peer-to-peer learning and dedicated workshops.

Fourteen startups were selected to join the programme, with nine of these companies hailing from Africa.

Uganda saw the most representatives selected, with Akaboxi – a savings solution for smallholder farmers; micro-insurance platform Mayicard; and online verified digital supply chain platform Vouch Digital; joining the cohort.

Two startups from South Africa made the cut – gamified mobile savings app Akiba Digital; and digital insurance solutions provider Inclusivity Solutions.

Senegal’s MaTontine – which provides micro-financial services to the financially excluded in Francophone Africa; Tanzanian offline mobile money app Nala; Nigerian digital banking platform for cooperatives SmartTeller; and Cameroon’s merchant payments platform WeCashUp complete the list of African startups.

“Luxembourg is the microfinance centre for Europe and sustainable finance is a core priority of Government; it therefore makes sense to capitalise on the fantastic ecosystem and support available here to welcome these outstanding fintech companies focusing on financial inclusion. We are very excited to welcome the participants and we and our partners are looking forward to the positive outcomes of this programme,” says Nasir Zubairi, chief executive officer (CEO) of the LHoFT Foundation.

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Inspired and excited by the African tech entrepreneurial scene, Gabriella spends her time travelling around the continent to report on the most innovative tech startups, the most active investors, and the latest trends emerging in the ecosystem.

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