Milken-motsepe Fintech Prize Announces 10 Semifinalists
The Milken Institute , a US-based nonprofit, nonpartisan think tank focusing on economic and policy solutions and the Motsepe Foundation , a South African-owned foundation that focuses on initiatives and projects to alleviate poverty and improve sustainable living have selected 10 semifinalists advancing to the semifinal round of their Innovation Prize Program, the Milken-Motsepe FinTech Prize. These teams, featuring nine 9 African startups out of the ten, have been awarded USD 100 K each to develop solutions that aim to enhance financial inclusion in emerging and frontier markets.
The FinTech Prize, a global initiative, seeks to address the financial challenges faced by underserved populations by promoting innovative ideas that offer increased access to financial tools.
These solutions are expected to create a sustainable impact by improving access to credit, enhancing payment systems, and offering other financial services essential for economic growth in these markets.
"By supporting these pioneering teams, we aim to foster financial inclusion and empower entrepreneurs who drive economic growth and opportunities in their communities," Emily Musil, senior director of Milken Institute noted. He emphasized that the prizes help identify, support, and celebrate talent to ignite the entrepreneurial spirit and empower visionaries to turn their ideas for a better future into reality. The 10 startups operating across nearly 30 countries across 2 continents include:
?? AZA Finance Kenya : A B2B FinTech platform offering affordable, efficient financial services like payments and currency exchange.
