Two Nigerian FinTech firms, Alajo and Sosocare have been selected to join 13 other FinTech firms for the 2022 Inclusion Africa Program.
15 FinTech firms were selected in all, to participate in the program.
Others include AFRICRED (Mali), AgrixTech (Cameroon), ChapChap Africa (Uganda), ComGrow (Zambia), Radava Mercentile (Kenya), Hello Tractor (Kenya), Kayko (Rwanda) Lami Insurtech (Kenya), Nkwa (Cameroon), Proxalys (Senegal), Servichain (Luxembourg), Yalla Solutions (Egypt) and DanAid (Cameroon).
The program, which is an initiative sponsored by the LHoFT Foundation in partnership with the Ministry of Foreign & European Affairs – Directorate for Development and Humanitarian Affairs is scheduled to start today in Luxembourg.
According to the organizers, the participants were selected based on their observed efforts at improving financial inclusion in their respective areas of operations.
The program will connect startups with mentorship opportunities and training.
“Inclusion Africa provides a tailor-made program with intensive mentoring, coaching, peer-to-peer learning, and dedicated workshops for the selected Fintech startups.
“The program will include sessions on business model mapping, investment readiness, funding, and capital raising, social impact, scaling strategy, building teams, operational management, advisory meetings with investors, and pitch development. Several alumni of the previous year’s programs will travel to Luxembourg to share their experiences, delivering educational sessions and mentoring to the 2022 cohort.
“This 5th edition of CATAPULT: Inclusion Africa will once again leverage Luxembourg’s Inclusive Finance and Fintech ecosystem to support selected firms in developing their businesses and achieving their inclusion goals.
“The LHoFT team will be joined by key partners from Ada, Infine, Luxembourg for Finance, the Alliance for Financial Inclusion (AFI), the European Investment Bank (EIB), Luxembourg Microfinance and Development Fund, Bamboo Capital Group, Double Feather Partners, SPTF, LuxDev, Business Partnership Facility, ACRC, Compelio, and more, who will be working with the cohort throughout the program.” a statement in this regard said.