Co-creation Hub (CcHUB) in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation has announced the nine startups selected for the Fintech Incubation Programme. The Fintech Innovation Project which consists of the Fintech Incubation Programme and other developmental programmes is a part of the ongoing efforts to turn Rwanda into the Fintech hub for Africa with Mojaloop as the national payments switch. The programme aligns with Rwanda’s ambition to drive inclusive economic development by leveraging technology. Nine startups that were selected to join the programme.
Co-Creation Hub, launched Nigeria’s first open living lab for tech companies, technologists, hackers, investors and entrepreneurs in 2010 to accelerate the application of social capital and technology for economic prosperity. The hub has since expanded to include an umbrella of pan-African innovation enablers that includes the CcHUB Design Lab in Rwanda, iHub and elimu in Kenya, Growth Capital by CcHUB and CcHub Syndicate.
Google’s mission is to organise the world’s information and make it universally accessible and useful. Mojaloop was designed to provide a reference model for payment interoperability that can be used to overcome barriers that have slowed the spread of digital financial services.
KudiBooks which is a payment and accounting software for non-finance and non-accounting professionals targeting SMEs across Africa. They help users send and receive payments from their preferred financial institution within Kudibooks.
Food Bundles is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce and get paid on their mobile money.
Bafana.io is giving over 1200 African artists and creatives a personal page where they can easily share their work and a digital wallet to collect tips or payments from their fans around the world.
Uplus Mutual Partners (Uplus) is a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.
PesaChoice is a financial technology company that focuses on data-based lending. The startup offers short term loans without the requirement of collateral.
CentWise aims to unlock financial access for micro traders such as hawkers and street vendors by building alternative collateral products. The company converts financial data into bankable profile insights.
PayingTone is a marketplace that provides ecologically trackable products and services on credit. It helps to enable a gamified ecological footprint tracker for recurring consumption customers.
Lastly, the exuus which is a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology. That allows users to manage both their savings and spendings.
Over the next three months, CcHUB will be supporting the teams to achieve product stability, scalability, market readiness and investment. They will be able to leverage mentorship from industry and domain experts while taking advantage of Google products and Mojaloop. This first cohort of the program will conclude with a demo day in July, 2022 where the startups will present to investors through the CcHUB syndicate.
