In this episode of IT’S AFRICA’S TIME, we explore a bank led fin-tech competition in Nairobi, as well as how financing is unlocking the vast potential of women entrepreneurs in Mozambique.
See what happens when a bank like Citi decides to give young start-ups a platform to present new mobile phone applications with a view to potential investment, mentoring and launching their apps into the market.The Citi Mobile Challenge is a worldwide call for innovation and disruption, drawing out young developers and start-ups to innovate around new applications in the financial tech space. The competition, run in cities across the globe, launched its EMEA (Europe, Middle East & Africa) leg in Nairobi in 2015, and IT’S AFRICA’S TIME was there to check it out.
Join us in Kenya to experience the event, and step into the crazily impressive world of one of its entrants, a fin-tech startup called Umati Capital, who in just eighteen months has radically transformed the face of SMEs and rural farmers with their exciting cash flow and data sourcing agri-app.
We also travel to Mozambique to see how BCI, one of the country’s leading banks, is tackling the challenges faced by Women Entrepreneurs. BCI have proactively created a client segment called ‘Women Entrepreneurs’ which offers entrepreneurship training and access to a 45-day interest and collateral free credit card. Their biggest win-win enabler, however, is a loan fund created especially for women entrepreneurs who are able to present a solid business plan. The fund runs into millions of US dollars.
Join our team as we travel to Maputo to meet a restaurateur and a beauty salon owner who have engaged with the bank’s programme. See how it’s making a difference in their lives and allowing them to expand their businesses to the next level….at last feeling like they are in charge of their own destinies.