African Fintech Startups to Win $15,000 from the Fincluders Startup Challenge

0
1169

Fintech startups working on solutions and concepts for spreading financial inclusion in the Middle East and North Africa (MENA) stand chance to win $15,000 from Fincluders Startup Challenge.

Organized by the Technical Assistance Facility of the SANAD Fund for MSME, the event is scheduled for 3-4 May in Jordan, Amman with the support of Jordan-based Oasis500.

According to SANAD Technical Assistance Facility Committee Chairman Ines Ebrecht, “The Fincluders Startup Challenge serves as a natural extension of our technical assistance activities. Providing mentors to help guide companies, especially new ones, is integral to our mission, and our capacity-building goals include the creation of platforms for entrepreneurs that provide access to much-needed capital for companies in their infancy. Such funding helps ensure startups can finance the critical phases of their product and business development.”

Since its inception, SANAD and its technical assistance facility have helped spread financial inclusion in MENA through investments totaling almost USD 300 million and a wide-ranging program of training seminars and workshops for local financial institutions and businesses.

The SANAD Technical Assistance Facility will offer finalists a trip to Jordan and accommodations during mentoring sessions conducted by fintech industry experts.

Finalists will pitch to investors in a format similar to the television shows Dragon’s Den in the United Kingdom and Shark Tank in the United States.

The Startup Challenge in Amman closely follows the Arab Day of Financial Inclusion on 27 April, a day designated by the Council of Arab Central Bank Governors to increase focus on expanding access to finance in the Arab region.

The Amman event builds on the success of the first Fincluders Startup Challenge, where organizers carefully weighed the merits of each of the more than 90 applicants before selecting 15 finalists.

Interested fintech companies and industry experts can learn more about the Fincluders event at sanad.fincluders.com.