In a remarkable turn of events, Uganda’s very own “eMaisha Pay” emerged victorious in the fourth edition of the CATAPULT: Inclusion Africa programme, held in the vibrant city of Dubai as part of the World Expo 2020 festivities. The event, previously hosted in Luxembourg, showcases the best of fintech solutions aimed at financial inclusion and innovation.
eMaisha Pay, a cutting-edge mobile platform, utilizes machine learning, alternative data, and psychometric parameters to credit score small and medium-sized enterprises (SMEs) across Africa. Its innovative approach ensures that previously underserved SMEs can now access crucial financial services, heralding a new dawn for financial inclusion in the continent.
Organized by the LHoFT Foundation, Luxembourg’s premier fintech hub, and backed by Luxembourg’s Development Cooperation, CATAPULT: Inclusion Africa offers a unique platform for startups to showcase their prowess. This year’s edition witnessed participation from nine startups spanning six African nations: South Africa, Nigeria, Ivory Coast, Zimbabwe, Uganda, and Ghana.
Throughout the intensive three-day workshop, the startups benefited from the insights and expertise of mentors from both Luxembourg and the United Arab Emirates. This collaborative environment fostered the creation of synergies, networking opportunities with sponsors, investors, Microfinance Institutions (MFIs), and Public Financial Institutions (PFIs).
The grand finale, a pitch session, saw these startups presenting their refined proposals to an international jury of experts. eMaisha Pay, represented by its dynamic CEO, Sserubiri Uhuru, stood out, impressing the jury with its innovative solution, tangible impact, market potential, and overall presentation quality.
This year’s event was made possible through the collaborative efforts of several partners, including the Alliance for Financial Inclusion, ADA, AFI, InFine, DIFC FinTech Hive, PwC, Luxembourg Microfinance and Development Fund, Luxembourg for Finance, Dubai UAE Expo 2020, and Compellio.
eMaisha Pay’s victory is a testament to the growing importance of digital solutions in transforming the African financial landscape and the potential of African startups to lead this change.