Co-Creation Hub (CcHub), in collaboration with Google, Rwanda’s Ministry of ICT and Innovation, and Mojaloop Foundation, have announced the nine startups selected for the first Fintech Incubation Programme.
The Fintech Innovation Project, which consists of the Fintech Incubation Programme and other developmental programmes, is part of the ongoing efforts to turn Rwanda into a 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.
The nine selected companies are all from Rwanda, and include KudiBooks, a payment and accounting software for non-finance and non-accounting professionals; Food Bundles, which leverages digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce; Quiqpay, a contactless payments platform; Bafana, which helps African artists and creatives share their work and collect payments; and Uplus, a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.
The cohort is completed by PesaChoice, which offers short term loans without the requirement of collateral; CentWise, which unlocks financial access for micro traders such as street vendors and hawkers by building alternative collateral products; PayingTone, a marketplace that provides ecologically trackable products and services on credit; and Exuus, a digital and inclusive wallet 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 and 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 programme will conclude with a demo day in July, where the startups will present to investors through the CcHub syndicate.