Ugandan fintech startup Emata, which provides farmers with access to digital financial products, has been named winner of the Best Catapulter Award at the end of the CATAPULT: Inclusion Africa 2021 digital bootcamp, securing prize money and networking opportunities.
Disrupt Africa reported last month 12 African fintech startups had been selected to take part in the third edition of CATAPULT: Inclusion Africa, a series of Fintech for Financial Inclusion development programmes produced by the LHoFT Foundation 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 in total took part, 12 of those from Africa, and Emata was named overall winner at a digital pitching ceremony on May 27. The startup simplifies the day-to-day operations of a cooperative, and offers affordable loans to farmers who are members of cooperatives.
Emata receives EUR5,000 (US$6,000) in prize money and free entry and accommodation to attend African MicroFinance Week in October 2021.
“Access to formal and affordable financial services is crucial for farmers to prosper, and we think Emata solves this sustainably and innovatively that ultimately strengthens the entire ecosystem. Catapult and the LHoFT has offered us a platform to meet, discuss with and learn from great founders and investors. We look forward to putting this into action as we scale up in Uganda and beyond,” said Bram van den Bosch, chief executive officer (CEO) and co-founder of Emata.
First runner-up was Sierra Leone-based Mosabi, which unlocks financial opportunities through innovative learning, while second runner-up was Ghana’s Nokwary Technologies, which has developed voice-based interfaces for financial services.