The Department of Science and Innovation (DSI) has announced that it will help fund the development of an affordable, alternative internet solution for low-income…
The Kampala event, which took place at the Outbox Hub, saw 11 startups competing. Akiba won judges over with their attempt to make finance a lot simpler by giving users a practical and transparent management service.
“We started this company because my mom was having difficulties trying to make a difference in her community. We are very happy to see that this has transformed into a business,” said Akiba representative Ivan Mworozi in a press release to Ventureburn.
Akiba will be one of the 65 countries participating in the final summit in Switzerland where they will have the opportunity to pitch before investors, mentors and industry professionals from around the world. Startups from around the globe will have the chance to win up to US$1-million in equity investment.
“Stanbic is pleased to be the lead partner in this amazing initiative,” said head of business banking at Stanbic Bank Wayne Cook, one of the partners of the Seedstars World pitching event.
Akiba is available on the App Store and Google Play and has already been installed between five and 10 000 times on Google Play alone.
“We are very excited that Akiba will represent Uganda in Geneva in 2017. They have the potential to not only win at the finals but also to become key players in the national and international marketplace,” mentioned Cook.
“We are committed to nurturing young businesses like this and supporting the growth of startup companies because we recognise the vital role they play in the transformation of the economy. As Stanbic Bank, we shall continue to support the development of small businesses that bring innovation that can change our communities,” Cook concluded.
Featured image: flöschen via Flickr