Twelve leading tech startups from Nigeria, Kenya, South Africa, Uganda and Zambia have emerged finalists for ($50,000) funding from Visa contest. The finalists were selected from 238 entries across the Sub-Saharan Africa (SSA) regions

This initiative by Visa tasks startups to solve commerce challenges of tomorrow and to further enhance their own product propositions as well as provide visionary solutions for Visa’s vast network of partners.

Fintech startups in Africa are making huge strides with the aim of expanding the ways people transact beyond traditional banking.

Geraldine Mitchley, Senior Visa Director for Digital Solutions, SSA in a statement said

“We are delighted with the response to our Visa’s Everywhere Initiative and the quality of submissions we received is an indication of the region’s rich talent pool and innovative spirit”

The Sub-Saharan Africa (SSA) edition of the Visa’s Everywhere Initiative will wrap up on Tuesday, July 24, 2018, in Johannesburg, with each finalist having an opportunity to pitch their ideas to a jury in the Visa contest.

Here is a list of the 4 Nigerian startups included among the twelve.

Voguepay:  this user-friendly online platform global allows consumers and businesses to make and receive payments in all major currencies irrespective of location. Voguepay provides its user with more options to pay online through Internet banking (direct pay), wallet transfers, mobile payment, subscription billing and bitcoin payment.

Credpal: an innovative solution financial platform that gives people access to credit for online and offline purchases and also enables businesses to offer credit to their users. The platform leverages technology to minimise risk and ease in connection to multiple financial institutions that provide credit for users on the platform.

According to its site Credpal addresses the credit problem by challenging parts of credit financing such as risk assessment, collateral, the need for guarantors and repayments.

The platform claims its competitive edge is its ability to simultaneously connect several financial institutions and businesses at a point of service both offline and online.

Loystar: this platform provides retail businesses with the requirements to build loyalty with their customers and drive repeat sales. They allow users to sell anywhere with the platform Loystar PoS available on smartphones and tablet. Loystar puts its users brand out there, connect them with new customers where they are and engage them with best-in-class loyalty marketing automation.

Growsel: this platform focus on changing lives and building opportunities for small-scale farmers, working in rural areas. Training farmers on global agricultural best practices to improve efficiency, sustainability and increased yield. Providing them access to farm-loans through peer-to-peer crowdfunding for cultivation and creating market access to increase their income.

With their field partners, Growsel organises workshops, demonstrations and field days to spread knowledge far and wide across local communities in rural Nigeria.

Other startups of the Visa contest final

M-Changa, Mookh, WayaWaya and LipaPlus were the startups from Kenya, Howler and FinChatBot were shortlisted from South Africa while Swipe2Pay and Brig Africa represent Uganda and Zambia.

Featured image: moneyinc

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