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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.

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South Africa’s startup Cue launches AI Agents service to enhance customer service

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South African customer service software provider, Cue, has announced the launch of AI Agents, a new service that will empower businesses to automate routine inquiries, personalise customer interactions, and deliver exceptional service at scale.

Rhett Trickett, Chief Product Officer at Cue, who made the announcement in a statement on Monday, said with the AI Agents,
businesses will be able to help customers quickly and efficiently with chatbots and live chat on WhatsApp and social channels.

According to Trickett, the startup has worked with over 300 clients in the last five years, and recently expanded to the United Kingdom.

Cue’s AI Agents are trained on content from websites and company documents provided by businesses, allowing them to understand natural language and respond to a wide range of questions and requests,” he said.

“The service seamlessly integrates with existing workflows, enabling businesses to reduce response times, improve customer satisfaction, and boost agent productivity.

“At Cue, we’re committed to helping businesses deliver exceptional customer service in a rapidly evolving landscape.

“Our AI Agents represent a significant leap forward in customer service automation, enabling businesses to streamline operations, enhance efficiency, and ultimately, build stronger relationships with their customers,” Trickett added.

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Zambian fintech Union54 partners with Paymentology to launch virtual Mastercard debit cards

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Zambian fintech, Union54, has partnered with next-generation payment platform, Paymentology, to launch virtual Mastercard debit cards on its ChitChat social platform.

Perseus Mlambo, CEO of Union54, who made the disclosure in a statement on Friday, said the partnership was timely as it was coming at a time of rapid growth in Zambia’s digital payments sector.

“With 16.4 million mobile connections representing 78.7% of the population, and a projected market growth for digital payments of 16.12% from 2023 to 2027, reaching a size of US$8,441.00 million, Zambia is primed for innovation in financial services,” he said.

“By integrating communication and secure financial transactions on one platform, Union54’s ChitChat has the potential to drive significant economic growth, foster entrepreneurship, and enhance financial inclusion throughout Africa.

“Building on the recent launch of Union54’s ChitChat—a messaging app with an integrated payment wallet—this collaboration introduces a USD virtual Mastercard debit card to the platform.

‘Leveraging over two decades of expertise, Paymentology provides its next-generation payment platform to support Union54’s expansion of ChitChat in Zambia and other African markets during this critical growth phase.”

Union54 which was founded in 2021 by entrepreneurs Mlambo and Alessandra Martini, has quickly gained prominence in Africa’s fintech sector with its flagship product, ChitChat, enabling users to communicate, network, transfer money between wallets, convert USD to local currencies, and send in-app funds to other ChitChat users.

“With the help of Paymentology’s cloud-first, API-driven technology, users can now conduct both in-person and online transactions using their ChitChat virtual Mastercard debit card,” Mlambo said.

“The internet has transformative potential for both individuals and governments. Our goal is to create secure and efficient spaces for communication and transactions. Partnering with Paymentology provides us with the reliability, security, and scalability needed to elevate our offerings. This collaboration will empower our customers with the advanced tools necessary for seamless communication and financial transactions.”

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