Thematic and Tanzania Winner

Thematic Winner

Phema Agri SMME Financing

Product Name: PhemaAgri


Problem Statement: The Agriculture sector employs about 60% of the population and contributes up to a third of the country’s GDP. Tanzania has more than 60 registered banks, yet fewer than 5% of financial support goes to the agriculture sectors. Small holder farmers struggle to find financing relief from traditional financial institutions as they are perceived as being too risky and lack the appropriate collateral to secure a loan from banks. At the same time in Tanzania, a majority of the middle-income working population are located in urban areas, working 9 – 5 jobs with no time to venture into agriculture. These individuals have surplus income but few investment opportunities to grow their money. Investments in Tanzania provide small returns (e.g. Treasury Bills are at 3.5% for a 3-month investment, fixed deposits at 10% for a 1-year investment), while none is available for agriculture.


Target market: Our target customers are middle income individuals living in urban areas, aged 20 – 60 and working a 9-5 job.


Product description: Our product is a digital agriculture crowdfunding platform that facilitates working capital financing for small holder farmers in specifically selected value chains. The platform matches investors looking for investment opportunities in agriculture with screened farms/farmers looking for a working capital financing solution to enable their production process. The platform is linked to a bank payment method, together with a mobile money direct integration to make crowdsourcing easy and quick for the regular Tanzanian.

Investors get the opportunity to create their own investment portfolio in various available farms ready for investing.


Team members

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Daniella Kwayu Donald Kwayu Perryn Luze Ali Katunda Nora Daniel
Zambia Winner

Make Live International SMME Financing

Product Name: Kumbuka Loans App


Problem Statement:

  • Investment in network marketing businesses is risky for the investor, whether it is the illegal pyramid scheme type that offers no security for investment or those that sell products. This can result either in a total loss of the investment or a non-liquid form of investment being locked up because many people find that products can be hard to sell.
  • SMMEs that lack physical collateral are not considered for loan access by most banks and other non-banking institutions, Many viable businesses close due to a lack of much needed and timely funding.


Target Market:

  • Supply Side: Mid and High-Income earners who have an annual net income of as little as K60,000.
  • Demand Side: Profit making early stage and emerging MSMEs that have registered businesses and show potential for investment.


Product Description: The Kumbuka Loan App is a Crowd Funding Business Loans Platform, which provides short and long term loan options for businesses without the need for physical collateral. It is a secure investment opportunity for lenders guaranteed by the Platform Administration.


Team members

Mapalo Lukashi Chipasha Lukashi Esnart Kanenga Chikobeli Mercy Luwi Katoka Joshua Kosamu
Mozambique Winner

Ary CS Lda SMME Financing

Product Name: Zinwe


Problem Statement: The clear lack of flexible alternatives to short-term financing for SMEs


Target Market: Profile of the eligible SMEs:

  • Legally registered (without restriction of industry);
  • With solid structure but few assets;
  • Organised accounting;
  • Has a positive credit history;
  • Has a good track record in terms of revenue;
  • Are not in litigation for insolvency situations.


Product Description: Zinwe- platform is an alternative source of short-term, fast, flexible, and affordable financing to support SME operations. It iss an investors and SMEs aggregator platform aimed at bringing together companies looking for financing and people willing to invest. Fast, targeted, easy, and transparent. It provides short-term financing (hours, days and even months). On this Platform, investors access details of how the selected business works, in order to decide which business they are going to invest in.


Team members

Pacheco Jossias Ventura Maculuve Nelton Viana
South Africa Winner

Mosely SMME Financing

Product Name: Moseley


Problem Statement: Financial products are rarely available to independent retailers and informal traders due to a lack of data, sustainability, and limited growth opportunities of their businesses.


Target market:

  • Independent retailers and informal traders.
  • Day care centres and independent hospitals, schools.
  • University and college students.
  • Families and stokvel groups.
  • Once-off events where there is huge consumption of food, such funerals and weddings.


Product description: Digital business to business (B2B) distribution company, which aggregates independent retailers and traders (FMCG and agricultural products) buying in bulk for better pricing from suppliers, while providing financial products to them.

  • The independent retailers and informal traders can order their goods from Moseley (Pty) Ltd online platform by SMS, phone, or mobile app. The goods are delivered to the retailers and it has an online payment feature, or inventory and vehicle finance if they require it.
  • Consumers can place orders/make payments on the platform via SMS, phone or mobile app or at any independent retailers or informal retailers on the platform. The order will be delivered to any independent retailer and informal traders of their choice that is on the platform. This can make it possible to buy products for your family while you are at another location. (If you are based in the suburbs, you can still buy for your family living in the township.)


Team members

Katlego Gaodigwe
Lesotho Winner

iSIS Group SMME Financing

Product Name: iSIS Group


Problem Statement:

  • People, especially those in the middle class, tend to think that for them to invest anywhere, they need huge amounts of money. They also think that they have no efficient platforms to help them make profitable investments.
  • The organisations that people create for themselves to save money, tend to fall and in the end they do not know where to use their ‘loose money’ or ‘chicken change’.
  • SMMEs are given financial support by FSPs but with little to no support and sometimes end up failing.
  • SMMEs find that it is difficult to find funding from Financial Service Providers because, at times, the funding is limited.
  • Sometimes, the trajectory of how we see life can be embedded in building our SMMEs, so it is important to support them.


Target market: We have two sectors of target markets:

  • We target SMME owners with scalable and great ideas but lack financial support and also enough resources and skills to build their product for scale.
  • We also target people with loose money on their hands that they can use to invest, in order to create a pool of investors for the SMMEs.


Product description:

  • What solution have we come up with? We have come up with a solution that mediates between the ‘Investor Client’ and the ‘SMME Owner Client’. We will look to create a pool of owners of SMMEs and bring in investors for their ideas. We will also incubate them, providing mentorship until the business is scaled.
  • What the solution does? What we do is that we have people skilled in picking the best businesses that can build for scale in the 10 most important industries for the SADC. These are: Finance, Real Estate and Land Development, Technology, Media, Retail, Health, Energy, Construction and Mining, Farming and Food Production, and Transport. We will be seeking funding for SMMEs that seem to have good ideas. We will seek this funding from our gathered pool of investors, who will be awarded shares in the company. We will manage those shares as well as their money for them.
  • How it operates? We will create a digital solution; an online website. We will be working to mediate the gap between Investors, Industry Experts, and SMMEs. We will be creating a system that helps our ‘Investor Clients’ to save their money with us and also give them advice on new investment deals coming from SMMEs registered and approved by our panel of business analysts. When SMMEs come to us for funding, we will first analyse their idea and, if approved, send alerts to the pool of investors on our database, according to the industry specified. When the amount of money the SMME is applying for has been reached, the bidding channel to invest will be closed and shares awarded to the investors accordingly. The SMME will also be assisted with people who are specific experts in the field they are working in to help mentor them as more than financial help is required to help them get off the ground. The outsourcing for mentorship will be done through our ‘Freelancers’ portal and the best candidate will be given the chance to mentor and work with the SMME owners. Assisting with both moral and financial support is important for growing SMMEs. As a company, we will also set funds aside to invest in the SMMEs, but only for 30% of the share percentage they are willing to give out to investors. The other 70% will be left for our pool of investors.

Team members

Qoane Mothibeli Thomello Mat’sasa Boitumelo Mothibeli Mahlompho Sefika Kolisang Mothibeli
Botswana Winner

Kwiky Credit (company is PoCash) SMME Financing

Product Name: Kwiky-Credit


Problem Statement: Every year, a market worth more than USD 30 Billion in Africa is underserved with no access to formal credit because of lack of collateral and a formal credit history. The informal sector is left to borrow from loan sharks, with unregulated interest rates that continue their perpetual poverty.


Target market: Small-Micro-Enterprises (SMEs), Street vendors, Students


Product description: Kwiky is a digital credit platform for domestic lenders to provide small businesses and street vendors access to instant credit, with little to no collateral. We have created an algorithmic approach using mobile data in assessing creditworthiness and creating a profile for lenders to safely disburse funds. In this way we are making truly financial inclusion for the unbanked our reality coupled with financial literacy tips.


Team members

Aobakwe Seokana Titose Chembezi
Malawi Winner

Kairos Micro Finance SMME Financing

Product Name: Kairos


Problem Statement: As per a recent a publication entitled Towards Financial Inclusion that read, ‘The Financial Service Sector has become increasingly important to Malawi’s economic growth and development. In recent times, the country has seen a wide range of innovative products out of the sector that have deepened the levels of intermediation. Yet the fact is that the majority of the population remains underserved especially those with low incomes, disabled, technologically challenged and those living in the remotest areas.

While there is little debate on the direct relationship between Financial Inclusion and economic performance, research shows that it is not cheap for Banks, Insurance and Financial Service companies to extend their facilities to all corners of the country.

Government, through the Ministry of Finance Economic and Planning and Development in conjunction with Reserve Bank of Malawi in 2017 launched the National Strategy for Financial Inclusion, seeking to facilitate an increase in the delivery of Financial services at affordable costs, especially to the low income segments and the rural masses from 35 to 55%.’

We have recognised this as an opportunity to reach out to the vast untapped market by providing a solution to this problem by sharing our innovation with a vast array of people deprived by the Financial Services and we hope to reap dividends by taking advantage of the on going Financial Literacy drive and help push for individual economic independence.


Target market: The primary target client base is 75 % women and 25% men in the urban and rural areas, especially those who own small businesses in informal sectors with a clear track record of operating successfully for not less than three months. These are mostly vendors who buy and sell stock on a daily basis, trading in fast moving agriculture products and who are able to repay portions of their loans every day. Due to gender based violence and a culture that remains a serious developmental challenge, women and girls fare worse than their male counterparts on social-economic indicators. These include literacy, primary, secondary and tertiary education enrolment and completion, wage equality, and political participation.

Despite their critical role in food production and taking care of their households, Malawian women have little control over land, even if it is their own passed on from their family line. The lack of access to productive economic resources is frequently cited as a major impediment to gender equality and women’s empowerment, and is particularly a factor in making women vulnerable to poverty.

Despite these drawbacks; they are more responsible borrowers, savvy business operators, and better savers. Women in Malawi, working in the vendor space, are quite likely to be mothers, married, single, divorced, or widowed. Their three major focus areas are their children, business, and their homes. 70% of these women in the rural areas are widowed or divorced breadwinners who are responsible for the general planning of their homes.

In Malawi, families are often not direct relatives and, on average, these women have no less than four children to feed, take to school, etc. A woman could be taking care of four children, where only two are her own. If they have husbands, they are normally in control of where and how the money is spent, often resulting in ‘hiding’ money in chipereganyo (where money is contributed in groups and everyone has her turn to receive the contributed amount either on a daily, weekly or monthly basis) or village banks as a saving method. Women take care of large families, disability or poor health. This is not an option for them.


Product description: By borrowing a leaf from GSM providers (Cash points), we are going to establish branches in the urban and rural markets or where ever people gather and trade, targeting well populated areas. Our plan is to erect well branded kiosks that can be easily assembled or disassembled at any desired location.

These kiosks will be manned by well-trained credit officers and each will be equipped with an android phone with an app to interface with the cloud-based credit management system for record updates. The loans will be disbursed and repaid through GSM mobile money apps. Once clients have been vetted, and groups created and leaders identified, then funds will be disbursed and repayments will be made every morning of the next business day, between 8am and 12pm. The money will be wired from members through to the group leaders (GSM money app) and the leaders will transfer them directly to a central company account (Kairos) that will be manned by one of the commercial banks. Confirmation messages will be received by the Kairos back office reconciliation team and the team group leader and he or she is to take it to the Kiosk (Branch) and the credit officer will then issue a receipt and update the records accordingly. We believe this is the cheapest and most effective way for our product to reach our intended audience, those with low incomes, disabled, the technologically challenged, and those living in the rural areas.

Research has shown that many people are now using mobile phones in both urban and rural areas and the proportion of adults using mobile phones is 75.38% of the whole country. 89.43% of these adults have received money through mobile money services and 89.93% have transferred money through the same channel. (RBM’s Financial Literacy and consumer protection household follow up survey 2018).


Team members

Chifundo Chikoja Victor Custom Trevor Mapulanga Richard Mwawa
Thematic and Tanzania Winner

Thematic Winner

LyfPlus Access to Basic Services

Product Name: Lyf+


Problem Statement:

  • Patients spend 3-8 hours and longer as waiting time in hospitals;
  • Patients incur 50% extra costs related to transportation and communication;
  • This leads to customer dissatisfaction;
  • Exposes patients to greater medical risks.


Target market: Patients aged 18 to 45 years earning at least 250,000/= Tsh monthly.


Product description:

  • A mobile app that provides instant access to physician consultations.
  • Allows patients to access a variety of specialist doctors, meeting different medical needs.
  • Integrates pharmacies and diagnostic facilities to allow patients to access comprehensive medical care at venues closest to them.
  • Appointment bookings for virtual consultation and hospital visits made seamless.


Team members

William Andrew Mduma Dr Lilith Ferdinand Dr Ali Khatauilian Francis Omorojie Mercy Murithi Baraka Tweve
Zambia Winner

Ace Smart Technologies Access to Basic Services

Product Name: Smart Revision


Problem Statement: Imagine a student trying to pursue his/her dreams to become an engineer. Their challenge is that: - schools are closed because of Covid19, they have no access to books, and they have no access to revisions and progress monitoring reports.


Target Market: We target 7 million school and non-school going pupils in Zambia. We also market to 6,000 schools and to parents/guardians.


Product Description: Ace Smart Technologies Ltd is the largest and most comprehensive technology company in Zambia that focuses on education-based services. Ace Smart Technologies Ltd has more than 25,000 users and manages more than 50 teachers offering services in more than 80 subject areas. It has collaborated with Zamtel, Examinations Council of Zambia(ECZ) and the Ministry of Education in Zambia. Ace Smart Technologies Ltd provides many learning services, the favourite being Smart Revision. This is an online self-learning platform with ECZ past papers and solutions, notes, videos, quizzes, infographic summaries, and topic exercises accessible through Ace Smart Technologies Ltd’s web and mobile application. Smart Revision is available for students from grades 1 to 12, covering all curricula and GCE in Zambia. Our customers pay for our services through Visa/Mastercard, mobile money, zampay, and talk time credit.


Team members

Michael Chola Elias Kampamba Emmanuel Mbewe Lee Lwando Chabu Muchinshi
Mozambique Winner

MovelCare Access to Basic Services

Product Name: MóvelCare


Problem Statement: Over 18 million people in Mozambique do not have access to formal insurance products. This leaves over 65% of the total population of 28million with no funeral cover, medication cover, maternity cover, or accidental cover. This puts aggregate insurance adoption at a low of 3.5% and funeral insurance at less than 0.3%. The extension problems faced by people without means to insurance are:

  • Funeral Insurance in Mozambique- All funeral services are done by paying for them on a cash basis. As sudden as funerals are, 65% of the population is left to either have a less dignified burial or with death induced debts. Death induced debts- means that in order to give loved ones a proper send off, the immediate families are forced to borrow above their means. This leaves low-income families in unnecessary debts.
  • Hunger and Poverty- Some families are unprepared for the sudden loss of, so that when they lose a breadwinner, their lives change dramatically, leaving them in poverty or hunger, especially in cases of death after prolonged illness.
  • Repatriation- Financial insurance tends to forget the diaspora, which meaans that the loved one could die in other developed countries. They may not qualify for such basic services as funeral insurance or bea able to afford. This is one problem faced by families preparing to repatriate their loved ones.
  • Funeral administrators/Service Players- If insurance ignores the service players at the end of the process, there will be many underinsured policyholders and this makes insurance unattractive. Administrators also need to be engaged to boost the funeral insurance market.


Target market:

  • By Income: Current insurance demands that you declare your income to be assessed for payment:
  • - Low income
    - People who work and earn a stipulated basic monthly salary of as low as $ 500mts., e.g.;
    - Irregular income, mostly vendors, farmers, cross-border traders, piece-jobs, and all in the gig economy.
  • Geographical:The access between rural, peri-urban, urban, and diaspora is totally different.
  • - Rural- mostly the elderly who carryout subsistence farming.
    - Peri-urban- made up mostly of vegetable farmers, livestock and horticulture.
    - Urban- young adults, small families.
    - Diaspora- Mozambicans mainly in South Africa, Angola, and Swaziland.
  • By Means to an End: These people are targeted based on a particular service they use for other things:
  • - M-pesa users- about 4million users at the moment.
    - Non-internet users- this group also entails irregular internet users and those who cannot use it because of the network problems.
    - Unbanked- also includes irregular bank account users and those without banks close by.
  • Phone type: People who use basic phones and smartphones all will be able to access our services.
  • - Informal markets- these include, sole proprietors, market vendors, and all those who make a living using their skills in the informal sector.


Product description: MóvelCare is an electronic micro-insurance platform that performs all the insurance administration functions. These include: adoption, administration, billing, notifications, referral, claiming, and after insurance sales services. It is used through mobile phones, without depending on the internet or a bank account to give basic and affordable insurance access to marginalised populations. MóvelCare makes insurance paperless, cashless, and timely. The Products Currently on offer are:

  • Funeral Insurance: Individual, Family, Sponsored, and Individualised-Corporate products;
  • Memorial Benefit: It is the first product in Mozambique with $1500 memorial benefit as a bonus;
  • Food Insurance: This product is in line with the SDGs 1 and 2 for No Poverty and Zero Hunger;
Funeral Diaspora: Access to basic services is not only meant for local people but we are already working to get our Diaspora Products approved for the international and regional markets.


Team members

Tauanda Chare Florencia Massango Osvaldo Cipriano
South Africa Winner

Tuma Access to Basic Services

Product Name: Tuma Transfers


Problem Statement: With more than 200 million transactions annually, Instant money has become the preferred way for Southern African's to send money between each other because of it's convenience. With instant money, a person can send funds from their bank account straight to a persons phone number, instantly. Provided that their bank offers an instant money service - which all of the big Southern African banks do. FNB has eWallet, Standard Bank has Instant Money, ABSA has CashSend and Nedbank has SendImali. The reciever of the instant money can then go and withdraw the funds from the senders' banks ATM.

I recieved my first instant money transfer in September 2019, before that I had used instant money to pay my maid and gardner their wages but I had never been on the receiving end before. My first expereince was both awkward and interesting... The awkward part was when I realized that I had to go to an ATM to withdraw the funds, and not just any ATM but the ATM of the bank of the sender. I always found that to be limiting...

My experience went from awkward to frustrating when I drove to a nearby ATM to withdraw the funds and found an ATM that was OUT OF SERVICE!! (This happens A LOT) At this stage I decided that I was not going to drive to another location to look for an ATM, instead I was just going to transfer the instant money funds to a bank account of mine. I naturally expected to be able to do this and I was very surprised when I learned that I could not do this...

At this point my experience went from awkward to frustrating, to interesting... These are active customers in South Africa's instant money ecosystem talking about their experiences with the various instant money products. These are:

  • Customers who prefer direct deposits into their bank accounts over instant money transfers because the instant money withdrawals are not always convenient
  • Customers who are not nearby an ATM of the instant money so they cannot access their funds
  • Some customers who receive a R50 instant money transfer (for example) but the ATM only dispenses R100 and R250 notes so they cannot access their funds
These customers are simply saying that there is a huge issue with the fact that you can only access your instant money funds by going to an ATM to withdraw them. They are asking for a way to transfer funds from their instant money wallets to a local bank account.


Target market: There are more than 200 million instant money transactions worth over R240 billion annually in Southern Africa. All of the big banks in Southern Africa have instant money products and operate in the SADC regional, where their instant money products are also active. Tuma is the first-to-market with this type of service in the SADC instant money ecosystem. If just 1% of the 200 million annual instant money transactions are transferred to a bank account using Tuma at R10 per transfer, that is R20 million revenue for Tuma. This shows huge instant growth potential. Instant money is only going to get more and more popular. The end goal is to integrate with all banks with instant money products and scale with them across the SADC region. 4 out of 5 of SA’s big banks having instant money products which are operating outside of South Africa shows global scaling potential.


Product description: So we've built Tuma to meet instant money customers at the point of their needs. We always say that Tuma is complimentary to the various banks instant money products because we do not compete with them, we complete them. This is how Tuma works:

  • A customer goes onto our web application
  • The customer provides details of their instant money funds and the bank account they wish to transfer the funds to Tuma gets the transfer request, we verify it with the banks and process the transfer as requested by the customer
At the date of updating this presentation (May 2020) we have successfully processed over 9,100 transfers with this process, since launching 6 months ago.

Team members

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Philip Mngadi CEO CTO
Lesotho Winner

Boloka Access to Basic Services

Product Name: Boloka


Problem Statement: The high minimum deposits that Banks and Mobile Money require, make it difficult for low income earning people to save and accumulate any (small amounts) amount they have. These groups of people find it difficult to time get small loans from banks and financial service providers.


Target market:

  • Rural and urban populations;
  • Low income earners.


Product description: BOLOKA is an eWallet banking system that allows users to save and accumulate the change they get at local stores when they make purchases. They can use their savings for later purchases, pay bills and fees, etc. Users can send their saving to others to redeem as cash or as a voucher to purchase goods or pay bills. Users can also have community savings for their community development. The system can also offer small, fast loans to individuals, based on their savings history.


Team members

Lipholo Pheko John Senekane Ralebitso Mpolokeng Mary Mofana
Botswana Winner

Kalafi Digital Health Card Access to Basic Services

Product Name: Kalafi Digital Health Card


Problem Statement: Many public health organisations are still using paper-based outpatient health cards, which are easily lost, hard to update, and have no security. Although there are some private organisations that have their own way of storing medical data, it remains inaccessible to other healthcare providers, making it difficult to have consistent patient data across the board. Kalafi Digital Health Card aims to bridge communication between practitioners to enhance the quality of healthcare, digitise information to save paper, provide authorised access to complete medical records, and secure the storage of medical data.


Target market: Public Health providers, Pharmacists, Private Health Care Providers


Product description: Unlike paper documents that can easily be forged, smart health cards are tamper-proof, making them challenging to forge or unlawfully manipulate. The solution, an online platform for creating and updating medical records by authorised personnel, provides distributed access to medical data for practitioners and offers robust health care services to patients as they have real time secure access to their medical data on their mobile devices.


Team members

Bamili Kuate Katlego Moilwa Tumisang Mogotsi
Malawi Winner

OCLIYA Access to Basic Services

Product Name: Online Clinic Yathu (OCLIYA)


Problem Statement: Late and poor access to quality health services due to high costs, long distances and insufficient health personnel.


Target market:

  • Adult employees in urban areas of Lilongwe, Mzuzu and Blantyre:
  • 18-55 year olds, both male and female;
  • Earn >$100 per month;
  • Connected to the internet.
  • Adults in rural areas of Lilongwe, Mzuzu and Blantyre:
  • 18-55 year olds, male and female;
  • Earn < $2 day;
  • Have mobile phones.
  • Children
  • 0-5 year olds;
  • For both personas as social impact.


Product description: Our solution is an online medical consultation (web and SMS technology) and home based services on a fast, convenient, and cost efficient ‘one stop shop’ platform that is:

  • For Included customers:
  • Web based service;
  • Mobile Application;
  • Home based upon booking.
  • For Excluded customers:
  • SMS;
  • USSD;
  • Children will get connected to major free clinics available in town, e.g. Beit Cure International does ‘bone surgeries’ for children for free, yet most children miss out on this (from our findings) because their parents are excluded.


Team members

Emmanuel Chatina Grace Mzumara Joel Kalua Juaoquinar Zulu Kenneth Ngoma Peter Mwamlima Raphael Kazidule
Thematic and Botswana Winner

Thematic Winner

Digital Diamond Digital Financial Identity

Product Name: Digital Dimond Secure Identification


Problem Statement: Many countries financial institutions struggle with Grey Listing/Blacklisting with KYC compliance, on a regional and global scale, in some cases damaging trade relations between economies. Repetitive, excessive form filling in form institution to institution, literacy and disabilities to complete forms on your behalf and general validation and verification.
List the problems we solve (in priority order):

  • Grey/Blacklisted on KYC compliance;
  • Repetitive forms and registration
  • Literacy and failure to fill in forms;
  • Waiting times and queues;
  • Verification.


Target market: The target market includes these three main organisational bodies:

  • Financial institutions like banks and insurance agencies;
  • Telecommunications Bodies;
  • Vetted and verified software application;
  • Health Sector.
This encompasses a wider customer segment of: Workforce, Breadwinners, Parents, Financially Independent Individuals, Young adults, Students, Of Age Teenagers; Financial Institutions, such as banks, investor centres, insurance companies, investment banks, credit unions, loan associations, Real estate, Private Sector Companies, and Government Bodies


Product description: A Free Online and Offline Instant Digital Identification Application (that doesn't need to be downloaded ‘No Space? No Problem!!’) and stores Valid User Data to enable the users to Rapidly Complete Log Book Registers, Forms, and KY C applications at the tap of a button, regardless of the user's location. Additionally, a six character users Digital Diamond Secure ID No. and QR Code is generated, which will toggle between a Verified and Unverified Secure Identity if users Address, Last Name, or Contact detail Changes. This DDSecurelD Number would now become the user's new digital identity, stored on a server with Bank Firewall and Database level security, users to their personal information enabling them to have all forms quickly filled in and automatically updated when the particulars of the user changes. This would then promote secure paperless and correct user information for KYC Compliance regulators. It would be convenient and easy to use, providing organisations, financial institutions, and telcos with reliable and accurate information, while cutting out user’s hassle of repetitively completing forms.


Team members

Amaal Maatla Gape Ontiretse Mthabisi Bokete Nimrod Kgosimore Senwelo Modise Tanisha Sinivassen Vanessa Masupe
Zambia Winner

Payplus Digital Financial Identity

Product Name: PayPlus


Problem Statement: Mobile money accounts have increased to 57% (sub- saharan) in the last decade. Their impact on new technology, such as e-commerce, is, however, still not fully centralised. On the other hand, Africa’s e-commerce and retail industries have been increasing steadyily, while the digital infrastructure is not supportive of this move.


Target Market: Students and working-class sub saharan individuals above the legal age of acquiring a mobile or bank account.


Product Description: PayPlus is an all-in-one app that integrates mobile and bank accounts for busy working sub-saharan person to make online and offline payments easier and more convenient.PayPlus is a secure multifactor authentication enabled application. The gateway creates a seamless shopping experience for online and physical shopping requirements, such as walk-in stores (POS), utility subscriptions, money transfers, and the sending and receiving of money. It is a money manager that enables users to easily send money transfer funds from one account to another. Users are kept informed of activity via the transaction manager, which keeps records of all the proceedings on the accounts.The SME is provided with an easy merchant integration for both e-commerce and retailers. The gateway has a built-in POS algorithm that is able to compute and manage on-point sales, simplified accounting, reporting, and inventory management.


Team members

James Poda Siame Mwenimpako Gabriel Chileshe
Mozambique Winner

PagaLu Digital Financial Identity

Product Name: PagaLu


Problem Statement:

  • Companies currently going online have one major challenge: what payment method to accept and how to do so on their platform?
  • Companies are required to spend over 500 USD in tech teams to setup a payment method on their platform;
  • There is a long process for setting up an account with each financial service provider, a minimum of four weeks;
  • Businesses without the initial capital to go online are excluded or limited to accept only cash on delivery, thus introducing high risk factors to the business.


Target market: PagaLu is currently primarily targeting our software to businesses that want to enter the digital e-commerce space as well as companies that want to collect payments virtually (using digital solutions)


Product description: PagaLu provides an integrated payment aggregator solution that:

  • Speeds up the setup time for ecommerce businesses from weeks to almost instantaneous;
  • Reduced overall costs of integrating, maintaining, and accepting payments from service providers;
  • Management of various payment methods from one solution and interface;
  • Simplicity in reconciliation of accounts;
  • Centralised and simplified reporting for all customer accounts.
  • It is packaged as a software product that communicates with different Financial Service Providers, enabling a customer to accept payments by:
  • Signing up to PagaLu;
  • Installing our already developed plug in (software that works with other systems/platforms);
  • Entering account details to link with accounts;
Being ready to receive payments.


Team members

Fei Manheche Ana Santos Manheche Vasco Xavier Obadias Pelembe Calito Junior Dulcidónia Ugembe
South Africa Winner

Smart Address Digital Financial Identity

Product Name: Smartaddress


Problem Statement: There are over 9 million rural residents who do no have access to basic services. This is due to them not having a valid physical address, which is depriving them of their rights to vote, human rights and economic participation. We are looking at rural residents and businesses that face this problem.


Target market: Rural residents – face a hard time obtaining a valid South African address and end up using the nearest store, school, or peri-urban address to access basic services and to vote.


Product description: Smartaddress.co.za is a mobile application that allows rural residents to obtain a valid physical address. They sign up using their personal details and get a unique address handle with a QR code. This also allows you to get a Proof of Residence, allowing you to access basic services and give directions to rural areas.


Team members

Tumi Ngqondo Sibusiso Nqgondo Sfiso Dlamuka
Lesotho Winner

All My Needs Digital Financial Identity

Product Name: All My Needs


Problem Statement: The majority of Basotho are not financially included and suffer as a result of problems related to lack of:

  • Access to health;
  • Climate awareness;
  • Water and electricity payments/real-time monitoring;
  • Access to finance (e.g. jobs, banking)


Target market: AllMyneeds targets mobile phone owners of all ages who are seeking jobs, need health services, financial services, pay bills, and users of Local ISPs.


Product description: The App/system solves financial inclusion problems by creating proximity of access to basic services for users/customers through their mobile phones acting as:

  • Health Advisor, real-time weather forecaster, real-time water;
  • Electricity meter reader;
The system will allow users to perform financial transactions, such as paying for water, electricity, school fees, automated voucher redemption payments, and providing small jobs e.g. faucets, pct., surveys.


Team members

Thuso Sehloho Mpho Matla Mapota Kalosane Lehlohonolo Sehloho
Tanzania Winner

MyHI Digital Financial Identity

Product Name: MyHI


Problem Statement: In Tanzania, If your paper health insurance card is lost or forgotten, you cannot access healthcare services in hospital and usually it takes up to a month to renew/buy an insurance plan and get a new insurance card.


Target market: 50% of 13.2m population aged between 16 - 34years with access to the internet and smartphones in five years.


Product description: MyHI mobile app and system will enable people to choose an insurance plan to suit his/her budget and to purchase and use health insurance on a mobile phone. A digital card available in app will be used, instead of a paper card. We also provide other features to enhance customer experience and engagement with our app.


Team members

Shilton Ulomi Gideon Kiangu Justine Shumbi
Malawi Winner

Lync Systems Digital Financial Identity

Product Name: Lync Systems


Problem Statement:

  • The Reserve Bank of Malawi mandated all financial institutions to conduct the KYC (Know Your Customer) Process often.
  • KYC Process is paper-based:
  • Heavy costs on KYC Processes;
  • Long queues in business halls;
  • Disturbances in other business processes;
  • Cumbersome and error-prone.
  • Only a few people have done KYC – For example, only 30% of National Bank of Malawi customers have done KYC:
  • It is hectic just to go to an institution and do KYC only;
  • Exhausting to go through KYC Process with multiple institutions;
  • Time consuming and boring to stand in long queues;
  • Time limited as you can only do KYC during the institution’s working hours.


Target market:

  • KYC Mandated institutions:
  • These include banks, insurance, utility and property management companies;
  • Tired of spending millions on KYC Process;
  • Looking for ways to cut down cost of KYC Process;
  • Majority of their Customers have not done KYC.
  • Customers of the Mandated Institutions:
  • Male and female individuals aged 18 and above with Malawian national IDs and passports for foreign individuals.
  • Employed or unemployed, as long are yet to perform their KYC at one or more institutions for reasons such as, long queues, never found the time, have to perform KYC at multiple places, etc.


Product description: This is a digital platform that allows institutions mandated to do KYC to digitise the KYC Process. Customers or clients are no longer required to go to the institutions and go through a paper-based KYC.

  • Customers can perform KYC on their mobile phones at any time.
  • Institutions that have subscribed can access KYC Data through the web portal.
  • Teams with tablets will be stationed in city centres collecting KYC data from individuals who do not have access to the mobile application.


Team members

Bahat Phiri Hannan Salim Yussuf Chimole Francis Ganya
Thematic and Botswana Winner

Thematic Winner

Moneychaps Woman and Savings

Product Name: MoneyChaps


Problem Statement: The Low and Medium Income (LMI) segments, particularly women, are not able to manage their day to day financial needs and are finding it difficult to meet both their short and long term financial goals. The LMI women lack the means to face unexpected financial challenges. They also lack knowledge of basic financial products that could enable them to seize opportunities for more security and mobility in life.


Target market: Women Led MSMEs, Members of group savings, Youth and Informally employed Women in LMI


Product description: A mobile based data driven technology solution that enables users to manage their financial health by keeping track of their income, expense, and savings. It also offers tools that empower users to achieve their financial goals. Our Solution also enables the MSMEs to manage their businesses through a range of bookkeeping and accounting tools and services.


Team members

Thabiso Mabaka Priya Garg Ravi Dwivedi Baboloki Kojane
Zambia Winner

VillageSavers Technology Woman and Savings

Product name: VillageSavers


Problem Statement: The past few years have seen an increase in the informal small scale, community-based savings initiative named Village Banking. Village Banking is how many low-income communities have access to financial services. Research showed that there were over 20,000 groups with over 400,000 members in Zambia. In 2018 alone, they collectively saved over US$79 Million with interest of over 27.6%. While these are good statistics, Village Banks face many problems, such as:

  • Lack of proper record keeping.
  • Manual entry and calculation of financial transactions.
  • Human error.
  • Dishonesty of administrators.
  • Lack of transparency.


Target Market: Our target market is the over 20,000 Village Banking groups in Zambia with over 400,000 members. We are also exploring the market in Botswana and have our partner on the ground doing market research. 80% of these groups are women.


Product Description: Our product helps village banking groups digitise their financial transactions (savings and loans) through our automated digital system that is easy to use, easy to access, anywhere, anytime, on any internet-enabled device. Our product helps Village Banks to:

  • Increase accuracy;
  • Do better record keeping and management;
  • Eliminate human error and administrative dishonesty;
  • Bring about transparency;
  • Auto calculate and produce summaries;
Save time and can be accessed from anywhere.


Team members

Moses Mwansa Joshua Kosamu Nzovwa Banda
South Africa Winner

Sacotech Women and Savings

Product Name: SACOTECH


Problem Statement: Approximately 53% of adults who are saving, 32% of adults in the SADC, save through informal channels or at home. This is because formal institutions:

  • Require a high minimum balance on savings accounts;
  • Charge high bank feess on accounts;
  • Offer difficult-to-understand products and services;
  • Are located far away from the large majority of low income consumers.
Untum Financial Solutions is providing a solution called SACOTECH, where women with informal businesses can learn about financial literacy and save together through SACOTECH. SACOTECH solution ensures the safekeeping of records and the growing of the groups savings. It does this while ensuring that the members of the group still own their savings and credits group. Financial literacy is a major factor to the solution, so local representatives of SACOTECH play an essential role is scaling the business


Target market: SACOTECH is targeting 1% of the SADC population that is saving through informal channels (1.1 million people) or at home. Of that target group, we will msinly be targeting women.


Product description: SACOTECH has adapted to local systems, such as group savings and microfinance, and is making these available, accessible, and affordable to all segments of the population. It is doing this through a simple financial system that will allow members of a SACCO to easily and safely save and invest their assets. SACOTECH also provides financial literacy tools and training for groups to improve their knowledge about money and master their finances. SACOTECH is a financial system that provides a safe place for groups to save and invest. The application allows savings groups to create their groups, record the savings group members make, record loans they take, and ensure transparency and easy record keeping. The application will also allow group member to link their savings accounts to a formal banking institution, thus allowing them to automatically allocate payments made directly to the bank account. It will also allow for online payments. However, to scale to the rest of SADC, a USSD version of the app will have to be developed.


Team members

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Nomuntu Ndhlovu Noluthando Nzimande Bhuyisonto Ndhlovu Sbusiso Ngomane Andile Magwaza Koketso Mashego
Lesotho Winner

Technomath Women and Savings

Product Name: Technomath


Problem Statement: Women, young and old over Southern Africa, Eastern and North all want their saving groups initiatives to operate smoothly and transparently so that they can meet their respective goals. But due to the fact that they require physical presence which is not always feasible, Financial mismanagement through poorly kept records and unprecedented risk of keeping large sums of money in their possession. This causes problems in establishing and running of saving groups.


Target market: Existing Local savings groups and industrial factory workers: In Lesotho there are already running savings groups usually formed by women within villages to address their various communal challenges but the problem is that they do not engage much with the financial institutions for keeping their fund which Lerits’oana aims to assist them on. Industry factory workers in small towns also have the tradition of starting small rotating groups to assist one another to achieve their financial goals but all this is done without a proper system of operating which is a challenge to the participants that a platform like lerits’oan will solve.


Product description: ”Lerits’oana” a mobile (both app and web based) platform which allows for peer to peer savings,tracking and management of savings and credit scoring without removing the social interactions of women. It records and keep data history of saving groups through which all the transactions are done with mobile money, removing frustrations all of one the member to hold huge sums of money


Team members

Khauta Maliehe Habofane Mangoene Thabo Majoro Thoola Shai Setumo Semakela
Tanzania Winner

LokoFin Women and Savings

Product Name: LokoFin


Problem Statement: Informal savings groups have challenges with keeping accurate records, transparency and convenience, and access to credit. In an ideal situation, savings groups should be able to capture and record members’ details and transactions more efficiently, with real time control of contributions while offline. This solution should also provide linkage to financial service providers, such as credit, insurance, etc.


Target market: On average, a savings group has 30 members, and there are 300,000 savings groups in Tanzania. 350 million people in Africa are unbanked and process their transactions informally, such as through savings groups. On a global scale, 1.7 people are unbanked.


Product description: LokoFin is an offline-Savings Group platform for unbanked population. LokoFin uses artificial intelligence to deliver credit rating history and a market place for financial products to unbanked population without internet access.

COVID-19 poses crucial health and economic risks as markets falter, mobility is restricted, and community gathering is restrained. Savings Groups are overwhelmingly made up of women who are mostly small business owners and provide a critical engine for economic opportunity, source of social solidarity and safety net for many families in vulnerable situations. LokoFin leverages the power of mobile phones penetration and Mobile Money to create a financial profile and credit history that may be leveraged to access formal services. LokoFin operates offline and data flows link through USSD and SMS, making it accessible in low connectivity settings.

With limited physical meeting, members can still send their contributions through mobile money, receive confirmation of their transactions through SMS, giving them real time control over their contributions while maintaining trust and build financial profile for members.


Team members

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Stuwart Kitila Timoth Mwaijande
Malawi Winner

Light Technologies Women and Savings

Product Name: Bank M’nkhonde Mobile App


Problem Statement: People in rural areas generally have poor access to financial services, such as loans. Informal financial services offerings, such as village banking systems in rural areas, are essential to maintaining financial stability. However, the offerings are fairly simplistic and records are kept manually.


Target market: The target market is people in rural areas, where people are generally unbanked and underserved. Literacy levels are also likely to be lower and people mainly have access to feature phones, rather than smart phones.


Product description: Our services involve developing the bank m’nkhonde mobile app designed to digitise, simplify, automate, and organise the Bank m’nkhonde/ village Bank system, which in the eyes of a rural man plays a great role in their financial stability. The app is a digital platform for local monetary groups to be linked with banks and network providers. Some advantages of the app include: improved digitalised and record keeping, easy access to loans, and business consultations.


Team members

Anannias Zulu Tadala Mtimuni

SADC Innovation Challenge Regional Finale Judges

Samuel Otim

Trail Analytics

Nkosi Ncube

FinMark Trust

Petronella Tizora

FinMark Trust

Obert Maposa

FinMark Trust

Farai Muronda

FinMark Trust

Damola Owolade

FinMark Trust

Bongani Sithole

Founders Factory Africa

Angel Setumo

Letshego Holdings Group

Thomas Ringer

Start-up Mentor

Postar Chikaoneka

GrowthAfrica

Sasha Vieira

Standard Bank Mozambique

Webinars Relevant content

Malawi finals

SADC Innovation Challenge - Malawi finals

Zambia finals

SADC Innovation Challenge - Zambia finals

Mozambique finals

SADC Innovation Challenge - Mozambique finals

Lesotho finals

SADC Innovation Challenge - Lesotho finals

South African finals

SADC Innovation Challenge - South African finals

Tanzania finals

SADC Innovation Challenge - Tanzania finals

Webinar 8, Data driven webinar series 3

Scaling sustainably by Samuel Otim.

Webinar 7, Data driven webinar series 2

Putting it all together, going to market by Samuel Otim.

Webinar 6, Data driven webinar series 1

Innovating with the right mindset by Samuel Otim.

Webinar 5, Product-market fit

Learn more about designing scalable products that satisfy market needs. #SADCInnovation.

Webinar 4, Data driven innovation

Learn more about finding the opportunities in innovation and data science with Samuel Otim & #SADCInnovation.

Webinar 3, Fundamentals of creating successful products and businesses

Peter Nawa’s expertise is in identifying suitable business models, prototyping using the lean approach, analysing the financial viability of the startup and being analytical about how the pieces of a business fit together.

Tech-enabled innovation

Panelists Botlhale AI and Bongani Sithole explain how too leverage technology to develop solutions for the SADC innovation and investment challenge.

SMME Financing

An introduction to the problem statement by SMME specialist, FinMark Trust - Obert Maposa Moderator - Robert Jones

Women and Savings

An introduction to the problem statement by gender specialist, FinMark Trust - Petronella Tizora Moderator - Dumisani Dube

Financial Identity

An introduction to the problem statement by Head, FinMark Trust Zimbabwe - Nkosi Ncube Moderator - Kgomotso Tolamo

Access to Services

An introduction to the problem statement by Head, FinMark Trust Zimbabwe - Nkosi Ncube Moderator - Nicola Schoeman

Bizfundi: Improving credit access through tailored business advice

Targeting small businesses with personalised business advice and predicting successful loan applications

AgriGO: A farmer’s tool to grow greater financial harvest

DataHack4FI Rwanda winners, AgriGO, aims to tackle financial vulnerability of smallholder farmers.

A-Trader: Promoting investment and savings with robo-advisor services

Targeting beginner and experienced stock market traders with a digital investment platform.

Bizfundi: Improving credit access through tailored business advice

Targeting small businesses with personalised business advice and predicting successful loan applications

Exuus: Using data to demystify savings groups’ black boxes

See how this Datahack4FI team is digitising savings groups in Rwanda

Inclusive: Identification that removes barriers to financial inclusion

DataHack4FI in-country winners from Ghana offer a multiple-database-verification API solution to identity verification.

InvestXD: Putting women’s investment needs at the centre

InvestXD created a digital investment platform for women and youth.

ABOUT The SADC Innovation Challenge Process

The challenge will be implemented over a 16-week period, with 8-10 teams selected per country. Four winners will be selected from each country, one for each thematic challenge, to participate in the Grand Finale to be held in in Dar Es Salaam, Tanzania.

You can expect to develop your data science and entrepreneurial skills through a series of webinars and bootcamps, including a free online course in design thinking from IBM Digital – Nation Africa. Successful applicants will receive support and mentorship through a dedicated Slack channel.

What you can expect from the SADC Innovation Challenge

The SADC Innovation Challenge provides you with support from mentors and sector experts, through a series of a series of webinars and design bootcamps. Country winners will be awarded cash prizes and incubation support, as well as sponsorship to participate in the Grand Finale.

Young innovators from Botswana, Lesotho, Malawi, Mozambique, South Africa , Tanzania, Zambia are invited to apply. Participants are tasked with developing innovations that address four key challenges that represent practical community problems, leveraging data and data analytics to design scalable solutions.

The solutions developed by the winners of the SADC Innovation Challenge will receive incubation towards further development, commercialization and operationalisation.

Identify and surface

Identify and surface early stage innovations that are relevant to financial inclusion within the 4 thematic areas: SMME Financing, Digital Financial Identity, Women and Savings, and Access to Basic Services

01

Skills development

Skills development through webinars, online courses and bootcamps.

02

Regional data innovation

Support data driven innovation in the region

03

Networking

Support data driven innovation in the region

04

Applications are now closed

Thematic challenge descriptions 1. SMME Financing

Very few Small, Medium, and Micro Enterprise (SMMEs) are able to get access to credit and other financial products from the formal financial sector and banks. The bulk of their funding is received informally, through family or lenders. Alternative service providers, such as Micro Finance Institutions (MFIs), Savings and Credit Co-operative Societies (SACCOs), and Mobile Money Institutions are emerging to cater for this market. These providers are arguably smaller, more flexible, and have a better understanding of the sector. Different operating and business models can help to more efficiently and effectively serve SMMEs business and finance needs. However, SMMEs are considered high risk by financial service providers (FSPs) and face further barriers to accessing traditional FSP products and services. This presents a market opportunity to develop products and services for primary and secondary agro-businesses, which make up the bulk of SMMEs in the Southern African Development Community (SADC), together with wholesalers and retailers.

Developing a solution that addresses SMME’s unique financial needs (sustainability, liquidity, payments, and resilience), with a mind to alternative funding business and operating models is, therefore, key to unlocking the contribution of SMMEs. This solution can be designed/tailored to be a standalone product or integrated into other existing solutions and channels, such as business registration, input-based lending, or value chain finance.

In the wake of the economic recession caused by the COVID-19 pandemic, SMMEs have become key in sustaining livelihoods in the SADC region. At the same time, the crisis makes SMMEs more vulnerable, threatening their sustainability and success. It has become more apparent that issues around informality make it difficult to assist SMMEs, which are largely informal, but also to identify those that need relief. Relief for SMMEs, ranging from access to capital, debt restructuring, and employee benefits, has largely been extended to formal SMMEs. Solutions garnered from the SADC Innovation Challenge will thus be key in addressing their access to finance needs (notably resilience and liquidity) during the current economic crisis in the region.

View relevant content on FinMark Trust

2. Digital Financial Identity

Across the continent, many people are still denied access to basic services because of a lack of identity documents. This issue has become worse during the COVID-19 pandemic, as it is increasing the negative consequences of not having a reliable ID – primarily among the poor. When you consider that virus containment measures, like contact tracing and the quarantining of infected individuals, are impossible without widespread digital IDs, the extent of this problem becomes obvious. A universal ID could also help to ensure that all individuals have equal access when healthcare systems are distribute medication and, ultimately, a vaccine to combat the virus. FMT believes in full financial inclusion across the globe and advocates for a scenario where no one is denied a bank account because of the lack of an identity document, as this can be addressed through a Digital Financial Identity. In 2017, FMT undertook a Digital ID landscape across the SADC and the findings showed that a Digital Financial Identity across the SADC is an initiative that should be looked at fully by financial regulators as a means of addressing the identification challenges on financial inclusion.

As a result of increased regional growth through the years, there are rising forces pointing to the case for a regional digital financial ID in the SADC. These include:
  • Increasing digitisation of financial services and the growth of e-commerce;
  • Progress of regional electronic payment arrangements;
  • Indicators that public policy drivers favour a digital ID.
This presents an opportunity to develop solutions that address the possible use cases for a digital financial ID in the SADC region.

View relevant content on FinMark Trust


3. Women and Savings

Financial Inclusion for poor rural populations has been an ongoing challenge in Southern Africa. About 45 million people in the SADC region are financially excluded, the majority being women. The existence of informal financial services in the form of savings groups has, however, proved to be an effective way of expanding financial inclusion to vulnerable and marginalised communities that are unserved and underserved by traditional banking. These savings groups are predominantly made up of women in the same community who save into a central fund to cater for household needs and emergencies. Apart from enabling regular savings and facilitation of access to loans, savings groups promote social cohesion and provide spaces for community members to learn how to manage their personal finances. The lack of financial education and capability has been identified as one of the major barriers to financial inclusion. Savings groups can, therefore, act as instruments for delivering financial education to women and vulnerable communities.

FMT recognizes that savings groups are increasingly improving the livelihoods of many rural poor women and contribute to development efforts towards poverty reduction, improved education and health outcomes, and women empowerment in the SADC region. FMT, therefore, supports innovations, research, and women economic empowerment interventions and programmes to support linkages between savings groups and formal institutions.

Although there is clear evidence of the benefits of savings groups to members and communities, savings groups’ systems often lack control mechanisms to reduce the risks of loss of savings. The functioning of savings groups can be improved by leveraging digital technology through digital savings, which: automate pay-out to address manual calculation inaccuracies, eliminate the risk of cash theft, and provides clear tracking of transactions. This challenge requires the development platforms that allow for peer-to-peer savings, tracking and management of savings, and credit scoring, without removing the social interactions of women.

View relevant content on FinMark Trust


4. Access to Basic Services

Over the years, FMT and other developmental organisations have done much work to promote financial inclusion and to ensure that all adults have access to financial services. Behind this need lies the drive to ensure that this will also make it easier for the poor to access basic services. Financial inclusion is one of the key pillars through which access to basic services can be achieved. Basic services are those necessary to ensure the full social inclusion of people in society, to meet basic human needs and eradicate poverty. Differences in the quality of life between and within African regions, is largely determined by the availability of basic services, such as water, sanitation, healthcare, education, and electricity. Large segments of the population in the SADC region still lack access to basic public goods, such as piped water and sewage facilities. Most people live in places that are historically underserved, geographically isolated, and economically marginal. Despite progress throughout the region to improve access to basic services, a considerable amount of work remains to achieve universal access to these standard of living basics.

Digitalisation has proven to be a key tool both for increased access to financial services as and basic services. Solutions that are linked to basic services will help the poor to see value in financial services and improve livelihoods throughout the SADC region. The challenge is relevant to the work being done by FMT as it promotes the eradication of poverty while at the same time promoting the use of financial products. It is through developing solutions like these that financial inclusion becomes relevant to all human beings and increases account use.

Develop a digital solution that broadens access to basic services for the poor in water, education, electricity (or energy), sanitation or health care, through the use of mobile or other digital payment systems accessible to the poor.

View relevant content on FinMark Trust

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