Denis Opudo
PayPal and Village Capital have selected 12 African startups which will take part in fintech accelerator. The top two startups will receive $50,000 and three months of training. The training will take three months and the applications for the program are currently opened for startups from Kenya, Uganda, Tanzania, Ghana, South Africa, Rwanda, and Nigeria.
The selected startups will take part in a four-day workshop program which will sharpen their investment. Besides, the workshop will equip them with skills to engage with mentors, investors, PayPal employees and others. The workshop will take place in three phases.
165 startups applied for the program but only four from Kenya, Uganda, and Nigeria qualified.
The twelve startups constitute of GrassRoots Bima, an insurtech startup, FPESA which provides foreign exchange services, Tulaa, an agricultural platform, and Annona which provides technology to small-scale producers. These four startups are from Kenya although Tulaa serves also the Ghana market.
The Ugandan startups include Numida which offers digital solutions, Ensibuuko microfinance platform, Patasente which also gives financial solutions and Mazima Retirement Plan which helps informal sectors in savings.
The four startups from Nigeria include Social Lender, a credit lending startup, CredPal for e-commerce, Youverify platform for personal identification, and Riby Finance which helps in cooperative management.
