Cameroonian startup COVA Africa wins the sixth version of CATAPULT: Inclusion Africa – Togo Version
COVA Africa, a Cameroonian startup that specialises in insurtech options for French-speaking Africa, has received the sixth version of CATAPULT: Inclusion Africa – Togo Version.
The occasion Which was organised by the Luxembourg Home of Monetary Know-how and supported by Luxembourg’s Improvement Cooperation, marked the inaugural programme in Africa.
Based on Nasir Zubairi, CEO of the LHoFT Basis remarked ,“CATAPULT: Inclusion Africa’s newest version marked a big milestone – our inaugural programme in Africa, hosted at SAM, and the primary performed in French. This signifies our dedication to inclusivity and localisation in fostering African fintech improvements.”
The programme centered on numerous matters, together with enterprise mannequin mapping, scaling methods, peer due diligence processes, gross sales methods, operational and danger administration, funding and capital elevating, and social impression initiatives.
COVA Africa’s ground-breaking options emerged the winner ,thus securing the coveted prize.
“Alone we go sooner, collectively we go additional,” quoted Virginie Pouna Ngomi, CEO and co-Founding father of COVA Africa, expressing gratitude for the chance offered by the Luxembourg Home of Know-how.
The corporate’s victory demonstrates their distinctive work and underscores the collaborative spirit of the African fintech ecosystem.
CATAPULT: Inclusion Africa has emerged as a beacon of economic inclusivity, propelling quite a few corporations in the direction of success and bridging the hole between Africa and Europe within the fintech panorama.
Since its inception, CATAPULT has accelerated 70 corporations from over 25 international locations. This yr, amid 140 functions, ten fintechs from seven international locations had been chosen, collaborating in 26 periods facilitated by 28 consultants and 38 mentors.
The CATAPULT: Monetary Inclusion Africa programme acquired substantial assist from key strategic companions equivalent to LFF (Luxembourg For Finance), ADA asbl (Appui au Développement Autonome), EIB (European Funding Financial institution), and plenty of others.
The ten fintech startups that competed within the 2023 version of CATAPULT: Inclusion Africa Togo Version showcased a various array of options.
- Amira World Applied sciences from Abidjan, Ivory Coast, centered on digital transformation and social impression options based mostly on their on-line cost answer, Paiement Professional.
- CA Pay from Libreville, Gabon, supplied a web-based cost platform to facilitate monetary transactions for the unbanked inhabitants in distant areas.
- COVA Africa, the triumphant winner, specialises in insurtech options for French-speaking Africa, fostering partnerships and utilizing expertise to distribute insurance coverage merchandise.
- Dreamcash from Yaounde, Cameroon, launched MiQo, a neo-microfinance platform offering digital banking options to unbanked and underbanked populations.
- Kola Group, additionally from Yaounde, centered on digital microfinance, enabling people and small companies in sub-Saharan Africa to entry credit score and handle funds via digital platforms.
- Microfinance Professional Sarl from Lomé, Togo, developed a SAAS answer addressing cash assortment challenges for Microfinance Establishments (MFIs) and empowering MFI clients with simple cell entry to their accounts and cash transfers.
- Orya applied sciences from Dakar, Senegal, positioned itself as an API supplier for monetary providers, providing safe and inclusive expertise for monetary professionals in Africa.
- Rubyx, additionally from Dakar, developed a data-driven fintech platform providing MSME credit score options for service suppliers in rising markets.
- Toumai Analytics from Rabat, Morocco, introduced a SaaS Information Analytics platform that collects and analyses native information in Africa, giving voice and financial weight to native communities and offering worldwide traders with granular and sturdy information.
- Wajenzi, based mostly in Luxembourg, launched a digital market connecting African SMEs with particular person and institutional traders within the EU and the US, selling monetary inclusion by enabling funding for African companies.
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