Ugandan fintech wins Catapult: Inclusion Africa 2021 

Emata, a Ugandan Fintech that gives farmers access to digital and affordable financial products has been announced as the winner of the Best Catapulter Award at the end of the CATAPULT: Inclusion Africa 2021 digital bootcamp. 

Emata, a Ugandan fintech has been announced as the winner for Catapult: Inclusion Africa 2021

The award was announced at the end of CATAPULT: Inclusion Africa’s digital pitching ceremony held on 27 May. Each of the 14 finalists presented their final pitch to a panel of esteemed judges. 

Bram van den Bosch, CEO, and co-founder of Emata sheds light on the fintech’s innovative offering.

“Access to formal and affordable financial services is crucial for farmers to prosper, and we think Emata solves this sustainably and innovatively that ultimately strengthens the entire ecosystem. Catapult and the LHoFT has offered us a platform to meet, discuss with and learn from great founders and investors. We look forward to putting this into action as we scale up in Uganda and beyond.” 

As the overall winner of the bootcamp, Emata received €5 000 in LHoFT prize money and free entry and accommodation to attend the upcoming “African MicroFinance Week” in October 2021. 

The first runner-up of CATAPULT: Inclusion Africa was awarded to Mosabi, a Sierra Leone-based Fintech and Edtech hybrid. The fintech hybrid unlocks financial opportunities through innovative learning. 

The second runner-up was awarded to Nokwary Technologies, a Ghanaian startup developing voice-based interfaces for financial services, with the aim to facilitate financial inclusion of the technologically illiterate.

All the 14 Fintech participating in the bootcamp received a one-year free membership at the LHoFT. (See this story)

Emata

Founded in 2020, the Kampala-based fintech startup Emata provides a service that enables farmers to access a range of affordable and digital financial services. 

The fintech has reportedly built a credit history by digitising milk delivery systems in Uganda, based on this credit history the startup provides credit to farmers at interest rates that they can afford.

Catapult: Inclusion Africa 2021

Developed by the Ministry of Foreign and European Affairs’ Directorate for Development Cooperation and Humanitarian Affairs with key strategic partners, the programme aims to help selected fintech startups grow, develop, network, and secure funding. 

The bootcamp served to build bridges for business between Africa and Europe and helped the Fintechs connect with an international set of investors and Venture Capitalists. During the 10-day online programme, participating fintech’s were provided insight into a range of topics including business model mapping, investment readiness, funding, and capital raising, social impact, scaling strategy, building teams, operational management, and pitch development.  

Read more: Discovery Bank launches advanced online financial education platform
Read more: Agritech startup launches programme to support smallholder farmers in Nigeria 

Featured image: Emata team (Supplied)