news - Fintech for Microfinance Prize 2017 by FMO

Are you a Fintech company offering an innovative solution for microfinance institutions operating in Africa? It is time to present your innovation and win a €10,000 prize to further develop your activities!

FMO, in collaboration with ADA, launches an exciting pitch event in the context of the Innovation Fair, during the African Microfinance Week 2017. The aim is to support the Fintech sector and enable innovative solutions for MFIs, which represents one of the key ways to increase financial inclusion in Africa. 

The prize will go to the most creative, effective and impactful solution that can improve the performance of microfinance institutions in Africa. The pitch will take place during the Gala Dinner of the African Microfinance Week on Thursday 12 October 2017.

The Prize is open to Innovation Fair’s exhibitors, who want to propose an innovative solution covering one of these topics:

1. Facilitates a remote customer identification and money-collection system (e.g. DFAs)
2. Improves the effectiveness of management systems and/or increase the productivity of staff operations (e.g. cloud-based systems)
3. Improves the collection- and usage of data
4. Increases the number of product offerings to customers (e.g. insurance, invoice payment, etc.) through a financial service integrator

To apply, please visit this website and send your 3-minute video (max) presenting your innovative solution, to info@microfinance-afrique.org using WeTransfer. During your eye- dazzling video presentation, do not forget to cover these points: 

• Name of your organisation, its mission and main activities
• Name and role of the person that is doing the pitch
• Your innovative solution and to which topic it relates (based on the above list)
• The proposed solution: value proposition, geographical area, target public (size and profile of the MFIs and of the MFIs’ clients), expected results and, if relevant, best practices in the field
• Why your innovative solution should win the prize

Deadline to apply and send in your 3-minute video: 4 September 2017.

If you are preselected, we will contact you by mid-September to invite you to prepare your 2-minute pitch for the Gala Dinner that takes place on Thursday 12 October. During this event the jury, composed of experts in the sector, will award the Fintech for Microfinance Prize to the best Fintech solution to boost financial inclusion in Africa.

Looking forward to hearing about your solution!

The Innovation Fair team