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Six African fintech startups have been selected to participate in a prestigious Catalyst Fund-facilitated accelerator program. Its flagship inclusive fintech accelerator is supported by the UK Foreign, Commonwealth, and Development Office (FCDO) and JPMorgan Chase & Co., and fiscally sponsored by Rockefeller Philanthropy Advisors.

The 8th cohort for its Inclusive Fintech Program was announced today by Catalyst Fund, a global accelerator operated by BFA Global. 

Also Read: Application Open to Ghana: MEST Express Accelerator Program 2021

The accelerator runs the flagship program annually and selected startups receive £ 80,000 (~$100,000) in grant funding, six months of support, and ties with follow-on investors, with an emphasis on Kenya, Nigeria, South Africa, Mexico, and India. 

In addition, five startups founded by women and with female co-founders are in the selected cohort.

Here are the startups in the 8th cohort. 

Ghana

  • Jetstream, which enables companies to export goods across borders cost – effectively and access trade financing in Nigeria and Ghana

Kenya

  • Koa, Enabling users of current technology solutions to save and invest more easily and gain control of their finances in Kenya
  • Lami, Providing an insurance portal and API that allows more people and companies in Kenya to access insurance coverage
  • Power, Enabling employees to easily access earned salaries, loans, pensions, payments and contribute to savings through partner banks to alleviate Kenya’s financial burden.

Nigeria

  • Indicina, Facilitating lending through AI-powered digital credit infrastructure and credit subscription services for individuals and small businesses in Nigeria
  • Kandua, Empowering trained home service professionals in South Africa with greater access to consumers, technical resources, and digital financial services
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