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Rwanda: CcHUB, Google, Mojaloop Foundation announce 9 Startups for Fintech Incubation Programme

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Organizers of the Fintech Incubation Programme, Co-Creation Hub, Google, Rwanda’s Ministry of ICT and Innovation, and Mojaloop Foundation have announced the nine startups selected for the programme.

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.

CcHUB vowed to support 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.

CcHUB, which announced a partnership with tech-giant Google last December is Nigeria’s first pre-incubation space designed to be a multi-functional, multi-purpose space where work to drive creative social tech ventures takes place.

The HUB is a place for technologists, social entrepreneurs, government, tech companies, impact investors, and hackers in and around Lagos to co-create new solutions to the many social problems in Nigeria.

The incubation programme 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.

The nine start-ups selected to join the programme are:

KudiBooks; 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, get paid on their mobile money, and more!

Quiqpay; 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, get paid on their mobile money, and more!

Bafana.io; This amazing startup 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/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 street vendors and hawkers 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. The platform brings a digital product passport technology to enable a gamified ecological footprint tracker for recurring consumption customers.

Exuus; is a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology. The company’s flagship product SAVE is a digital & inclusive wallet that allows users to manage both their savings (individually and/or in saving groups) and spendings.

Tech

Egypt’s Venture Capital firm Glint announces completing close of $3m fund

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Egyptian Venture Capital firm, Glint, has announved completing the first close of its second venture fund, which will invest in early-stage startups at $3 million.

The announcement which was contained in a statement, notes that Glint, a boutique management consulting and investment firm, which since its establishment six years ago has helped build businesses such as Darwinz.ai, has also helped in building companies like Iqraaly, Wasla, Kashier and Filkhedma.

The close of the fund was anchored by Wadi Degla Group. Glint Fund II was led by Tarek Aboualam and Youssef Helmy Habib, and will empower Egyptian entrepreneurs with investment opportunities in the early stages, the statement said.

It added that with tickets ranging from $250,000 to $500,000, it will focus on supporting startups through its proprietary venture studio model.

Glint’s second fund represents an important step to further develop our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets,” said Aboualam.

“Glint’s Venture Studio model is designed to provide much more than just capital; it provides an integrated platform offering business, operational and technical support as well as access to the regional market.

“We are thrilled to start working with our new LPs as well as continue working with our returning investors,” he added.

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MTN Foundation announces 2024 scholarship for Nigerian students

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MTN Nigeria Foundation has announced its 2024 scholarship for Nigerian students to support their education and empower the next generation of leaders.

A statement by the Foundation states that the amount for the annual award has also been increased from N200,000 to N300,000 for eligible students.

“The scholarships are in three categories which include the MTN Science and Technology Scholarship (MTN STS), the MTN Scholarship for Blind Students (MTN SBS), and the Top 10 UTME Scholarship,” the statement said.

“MTN Foundation in 2010, established the MTN Scholarships Program, an annual award that recognizes and rewards eligible high-performing students in Nigerian Public Tertiary Institutions in 3 categories:

MTN Scholarship for Blind Students (MTN SBS) since 2012 has been targeted at eligible 200 and 300-level blind students studying any course in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“Starting in 2024, the number of blind students to receive scholarships has increased from 60 to 100. The annual award amount also increased from N200,000 to N300,000 and will be awarded until graduation if grade requirements are met.

“Top 10 UTME Scholarship since 2020, the top 10 scoring candidates of UTME as announced by JAMB, automatically qualify for the top 10 UTME scholarship.

“The candidates are awarded scholarships from their 100 level through to graduation upon meeting grade requirements.

“The Top 10 UTME Scholarship is awarded irrespective of the successful candidates’ preferred course of study or Tertiary Institution – Public or Private in Nigeria.”

According to the statement, the MTN Science and Technology Scholarship is open to 300-level students studying Science and Technology-related courses in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“The MTN Scholarship for Blind Students is open to 200 and 300-level blind students studying any course in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“STEM Students in Public Universities and Colleges of Education must have a minimum Cumulative Grade Point Average (CGPA) score of 3.0/4 or 3.5/5 (second class upper credit).

“STEM Students in Public Polytechnics must have a minimum Cumulative Grade Point Average (CGPA) of 3.0 (upper credit) from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) Program.

“Direct Entry level STEM students must have a minimum CGPA of 3.0 (upper credit) from the Ordinary National Diploma (OND) program and must have secured admission into 300 level/3rd year in a Public University.

“MTN Scholarship for Blind Students (SBS): Blind Students in the Universities or Colleges of Education must have a minimum Cumulative Grade Point Average (CGPA) of 2.5.

“Blind students in public Polytechnics must have a minimum Cumulative Grade Point Average (CGPA) of 2.0 from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) program,” the statement added.

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