Category: Women In FinTech

A formidable group of thirty (30) teams, hailing from Uganda and Kenya, has been shortlisted for this year’s Women in FinTech Hackathon. This esteemed selection was carefully curated from a competitive pool of over 100 innovative submissions received over the past two months.

The distinguished shortlist of teams will now gather in the vibrant city of Kampala from August 10th to 17th, 2023. This announcement marks the exciting commencement of the team’s journey, aimed at transforming their pitched ideas into groundbreaking financial technology products and solutions. Their innovative focus spans a wide range of sectors, including but not limited to Payments, Savings & Loans, E-commerce, E-Health, Fundraising, AgriTech, E-Insurance, and Remittances.

As she announced the successful completion of the registration process, Charlotte Neeza, the FinTech Events Manager at HiPipo, highlighted the great surge in enthusiasm and a steadfast will to innovate as key factors contributing to the Hackathon’s growing popularity over the last three years. Recognizing this burgeoning interest, the decision was made to expand the 2023 edition’s scope to include thirty teams, a substantial 50% increase from the twenty teams that participated in the 2022 event.

“We are thrilled to introduce the participants of this year’s Women in FinTech Hackathon. The growth from 2021 to last year’s count of 20 teams was remarkable, and this year, we have broadened our horizon further with 30 teams selected from nearly 100 submissions. This consistent advancement is a testament to the trust and faith that young innovators place in this project. The triumphs of past contestants in areas such as mentorship, product design, development & go-to-market strategies, and seed capital acquisition continue to fuel inspiration among both returning and new participants,” explained Neeza with evident pride and belief.

She continued with eagerness, “For the fortunate 30 teams, this Hackathon is not merely a competition but a luminous platform to showcase your potential, revolutionize your lives, and make a lasting impact on your communities. We extend our heartfelt gratitude to all teams that demonstrated their interest and initiative by submitting their innovative propositions. To those who haven’t made the shortlist, let this not deter your spirit or ambition. Continue to chase your dreams with determination, for there is indeed light at the end of the tunnel.”

Neeza emphatically disclosed that every team in this year’s competition is characterized by both women-driven leadership and a majority of women members, underscoring a commitment to empowering and spotlighting female innovators in the field.

“An inspiring 70 percent of the participants in this initiative are women, and I’m proud to affirm that every single team is guided by a female leader.”

Now in its impressive fourth consecutive year, this Hackathon stands as a vital component of HiPipo’s expansive Women in FinTech initiative. Beyond the competition, the initiative encompasses a comprehensive suite of programs including a thought-provoking Summit and a nurturing Incubator program, all aimed at fostering innovation and empowerment in the field of financial technology.

The Women in FinTech Initiative is a bold and strategic effort aimed at dismantling gender disparities within the financial technology industry. Through comprehensive empowerment, the initiative equips women with essential digital and financial inclusion skills, enabling them to innovate, thrive, and succeed. It’s more than personal growth; it’s a pathway for these women to prosper financially, foster development within their families, and contribute positively to the broader community, creating a ripple effect of change and advancement.

The fundamental mission of this initiative is to actively advocate for women’s financial inclusion by fostering their engagement in the creation, development, and deployment of financial technology products that are thoughtfully designed to serve not only women but society at large. The HiPipo Women in FinTech initiative stands as an extraordinary force, earnestly supporting and amplifying efforts to bridge the Gender Gap in Access to Technology. It’s a movement that resonates far beyond mere participation, extending into the realms of skill-building and the practical utilization of Digital Financial Services, thus reshaping the landscape of inclusion and empowerment.

From 2020 to 2022, the multifaceted Women in FinTech initiative – encompassing the Hackathon, Summit, and Incubator project – has drawn the engagement of over 4,000 participants and has directly imparted essential training to more than 300 women. Through rigorous and tailored mentorship, a significant number of these women have emerged as qualified Software Engineers and Computer Science specialists. Their achievements transcend the classroom, with some having conceived, engineered, and introduced Financial Technology products that are actively reshaping their communities. Others have garnered seed capital from both the project itself and benevolent external contributors, propelling them further along the path to realizing their dreams. This is not merely an initiative; it’s a catalyst for change, innovation, and empowerment.

This remarkable success story is a manifestation of HiPipo’s insightful and relentless dedication to Women Empowerment and Inclusion, fortified by the steadfast commitment, collaborative synergy, and active engagement of its eminent partners: Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies. Yet, it’s essential to recognize that all these groundbreaking achievements could have remained a mere aspiration without the magnanimous support of the Bill and Melinda Gates Foundation. Their generous backing is the linchpin that transformed this visionary endeavour from a possibility into a thriving reality, creating a legacy of empowerment and innovation.

Prize Money.

The 2023 Women in FinTech Hackathon will reach its zenith at the Women in FinTech Summit on 18th August 2023, a grand occasion where excellence will be celebrated.

The best-performing teams and standout individuals will be recognized and duly rewarded, sharing in the collective prize money of USD 10,000. But the rewards extend beyond mere financial gain; the victorious winners will automatically earn a coveted place in the Women in FinTech Incubator program, scheduled to run from September to December 2023. This is not merely a competition but a launchpad to greatness, offering not only recognition and financial rewards but a pathway to further innovation, growth, and success within the dynamic field of financial technology.

Below are the 30 shortlisted Teams and their Leaders.

TEAM NAME	TEAM LEADER
FinHub	Nankunda Josephine
Kampus Wash-up Cafe	Auma Eunice
Pesajet	Angella Kansemiire
Cyanase	Patricia Giramia
Opportune	Gum Priscilla
WashUp	Nakanwagi Evelyne
Maamas Daily Cookie	Sauda Nassanga
U – Pay	Abitegeka Bridget
Virtual Mothercare Assistant	Nyirarukundo Novitah
E – Care	Christine Amutuhaire
Elite Company	Mutesi Patricia
MindSpace	Racheal Olive Kawudha
Rent Easy Peasy	Stisha Margret Amase
Financial Education Platform for Women (FEP-W)	Tumuhimbise Evas
INFITX Empowerment Hub	Fortune Agnes Tusiime
E-Fuel	Yasmin Hassan
Safe and Free	Happy Amooti
HPaysa	Beth Njoroge
Agam	Nakisozi Mastulah Sarah
SheCapital	Ayebale Allen
TaxOnPoint	Kiyiga Marion Olivea
Smart Rental System	Angella Mulikatete
FloreXpress	Elizabeth Ashley Aceng
The Achievers	Jariat Nabakooza
Simbula Tugende Limited (STL)	Nansumba Mary Vanessa
BorePay	Diana Najjuma
Hands of Women Foundation	Anena Jennifer
Business Banking Hub	Sunita Namujumbi
Game Changers	Sarah Agemo
Online Katale	Tricia Wambua

Deborah Mulungi had gone shopping in a local supermarket when she met a fine lady wearing a T-shirt with the inscription – Izere Education. Curious, Mulungi stopped this lady and asked her what Izere Education stood for.

“She told me about many things but I had never heard about Early Childhood Development. She told me that they work as a social enterprise aimed at transforming education in under-served communities to realize quality 21st-century learning outcomes for all,” she recalls.

But the most amazing part of this Edu-Tech platform was that parents were being empowered to save money using their phones and later pay school fees for their children.

“I got interested. I enrolled my sibling in this program and it has been of great impact. If they talk about nurturing children, especially helping them to develop 21st-century skills, it is remarkable,” Mulungi says.

“They give children the ability to be creative, innovative, and confident,” she says.

“The good thing is that you can enroll your child and pay in installments. You may not prioritize it, but if you see what your child goes through, you need to invest in it. If you are appreciative of personal development, then you can be willing to sacrifice what you can to ensure that your child grows up as a responsible person in this competitive world.”

Edu-Tech.

Shamim Nirere, the Team Lead at Izere Education, notes that most times, these quality learning opportunities are missed by the have-nots because of the extra money one is supposed to pay for an extra enrichment class.

So, they decided to come up with a mobile solution under the Edu–Tech platform targeting parents struggling with school fees in public institutions, which are expected to be cheap.

“We have set up an Edu–Tech platform powered by FinTech solutions and reaching schools to extend our solution, communities to set up innovation spaces for young people, parents to enroll their children in our online academy and pay online, and trainers to get their money electronically,” she says.

“We are now getting to the ground in communities to get parents to save some money on their mobile money wallets for school fees.”

And Mulungi emphasizes that every parent should give this service consideration because it offers much more than ordinary routine classroom education.

“A parent who thinks that a child’s destiny is determined by academics, I don’t think that is right. Google can give us the academic answers that we need but in the 21st century, we need competitive skills to survive,” she says.

Strong strides.

Started in 2016, Izere has evolved to offer solutions that drive communities to the vision of quality 21st-century learning outcomes.

Nirere says that when the world was met with the Covid-19 pandemic, they got a boost in numbers and 2020 was their best year because most people realized that they can do much with technology like studying, paying online, making orders, etc.

“We have so far reached close to 5,000 young people and hope to reach 20,000 by the end of 2023. This is because we are running community programs and reaching a wide range of young people in 10 districts in Uganda online,” she says.

She adds that they are currently working with different aggregators and payment gateways such as SchoolPay and Flutterwave.

“But in the near future, we shall design and roll out our own wallet that will make payments much easier for the users of our solutions – content creators, teachers, parents, and students.

Nirere nonetheless says that the biggest challenge is the inability of some parents to understand their service of holistic education.

“The journey of enrolling young people on our platform is not an easy one. First of all, some schools provide mainstream education with traditional subjects. So, parents often ask if we are a school and not many understand what we do,” she says.

“But Covid-19 was a time for people to understand that there’s so much learning that can be done online. They later realized that there’s a new set of skills that our people need,” she says.

She also appreciated the organizers of the annual 40 Days 40 FinTechs initiative for shining a light on players in the FinTech space.

“This is helpful because most times, people build in silos yet whatever they are working on is already out there. It has also made it a lot easier to see people do things differently and share ideas. It has also helped to demystify FinTech,” she says.

Izere Education is the 34th participant in this year’s 40 Days 40 FinTechs initiative organised by HiPipo in partnership with Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies with generous support from the Bill and Melinda Gates Foundation.

Now in the fourth season, HiPipo’s 40 Days 40 FinTechs initiative has become a household name in the financial technology space of the East African region. In the last three editions, more than 100 FinTechs have been showcased, highlighting stories changing people’s lives, especially in the under-served sectors.

Sarah Nassaka Kagimu is a Pastor and small-scale businesswoman in Nansana.

Nassaka loves convenience.

So, when a group of young innovators came preaching about a platform where market vendors could save money and receive loans using phones, Nassaka was the first one to register.

“My aim was to access loans. I liked the fact that they were digital because I wanted something that would help me run a business using a smartphone,” she recalls her first encounter with Tawaza Digital Varieties, a Financial Technology start-up offering financial services to informal women and youths in rural and semi-urban areas.

“When I heard that their loans have no collateral, I was excited. Their systems are friendly where someone just pays a membership fee of only Shs 20,000. As long as you saved with them, you automatically qualified for a loan,” she adds.

For Nassaka, this was much easier than the stress of banks.

“Mainly, banks target high-end users and don’t want to approach ordinary women but these people gave us basics on how to save. I was surprised when they tripled my savings to get the loan. If they decide to continue growing with us, I can go far,” she says.

Including the excluded.

According to Winfred Nandawula, the Regional Programs director for Tawaza, this service was designed to tackle the increasing number of women and youth who can’t access formal financial services offered by banks.

“The challenge that we address is majorly that women and youth are running several informal businesses and are being excluded from access to formal banking services. We want to improve how they handle their businesses so that they can access the right credit and provide them with a simplified solution that they can easily use,” she says.

Nandawula notes that they mainly target rural farmer groups and informal women traders because they comprise the most under-served communities.

“We mainly work with USSD because most of the informal people do not have smartphones and are not vigilant with the usage of smart apps. We are now training them on how to use the various gadgets so that they get comfortable with the digital space,” she explains, noting that they are currently working with more than 60 farmer groups and over 1,000 women.

Challenges.

On the part of users, Nassaka notes that their biggest challenge is the lack of gadgets that can be used to operate the Tawaza mobile services.

“Tawaza should help us to get smart mobile phones so that we do away with the poor network on ordinary phones. They can maybe get us the phones and we pay in instalments,” she says.

Nandawula acknowledges this challenge but notes that they also face a financing problem that limits their investment capabilities.

She is, however, grateful to the organisers of the 40 Days 40 FinTechs initiative for offering startups a chance to showcase their services and address common challenges.

“If we sit in our offices and keep talking about our innovations, it won’t help. The 40 Days 40 FinTechs platform has given us follow-up programmes through HiPipo where we have benefited a lot by getting the right skills, advice, visibility, and a lot of advocacy support,” she says.

Tawaza is the 33rd participant in Season Four of the 40 Days 40 FinTechs initiative organised by HiPipo to shine a light on emerging Financial Technology companies with unique stories changing the lives of under-served communities.

The initiative is organised in partnership with Level One Project, Mojaloop Foundation, INFITX, Cyberplc Academy, Ideation Corner, and Crosslake Technologies with generous support from the Bill and Melinda Gates Foundation.

We are excited to share with you the Women In FinTech Magazine—January 2023 edition. A magazine that is solely dedicated to Women In FinTech.

These women have set an example for other women to follow. The Women In FinTech magazine increases the visibility of female leaders in the field and strengthens their connections to other participants. It also encourages more women to pursue careers as innovators, entrepreneurs, and executives in financial services.

It is a compilation of interviews, opinions—and many more elements. This includes an impressive list of 100 #WomenInFinTech. The list recognizes women leaders in FinTech who are solving sticky gaps and creating solutions within previously excluded, untapped or underrepresented markets.

We express our gratitude to Cyberplc Academy, INFITX, Crosslake Technologies, Mojaloop Foundation, #LevelOneProject and the Bill & Melinda Gates Foundation for their generous support.

We also appreciate the efforts of the team that worked hard to produce this magazine.

We believe you will share it widely too.

Tap Here to Read/Download the Women In FinTech Magazine January 2023 Edition #LevelOneProject.

Our Reporter.

After an intense and knowledge-packed week, the 2022 Women in FinTech Hackathon, culminated in to the Women in FinTech Summit on the 16th of September.

The Women in FinTech Summit was characterized by colour and pomp as the top six teams were announced and rewarded. Even so, all the 20 Teams got their fair share of the collective USD 10,000 reward prizes.   

While presiding over the Summit, Owek. Hon. Joyce Nabbosa Ssebugwawo, the Minister of State for ICT noted that the Women in FinTech Hackathon is a noble idea that uplifts women and also fosters overall country development.

“We are happy that HiPipo and partners are exploring women’s formal and informal income-generating opportunities that add value to women’s lives and livelihoods using digital solutions. I thank HiPipo for applying a gender lens across all its projects and driving stakeholder influence to advance women’s financial inclusion and economic empowerment. To my daughters that have completed this program, I applaud you and thank you for your commitment. Please use this knowledge to uplift even more women,” Nabbosa said.

The Hackathon had a total of 20 women-led and women-dominated teams. Team Elevation was declared the overall winner and took home a cash prize of UGX 4,000,000 thanks to its product named Kutayarisha; which is a web-based platform that provides maternity services and products to pregnant women in Urban-rural communities with need to have timely and reliable access to maternity care.

 Academic Personal Assistant (APA), Oliwa Events, and Go Green came second, third, and four respectively while both Lands Resource and Insure Wallet tied at the fifth spot.

Prof. Maggie Kigozi, who was the Hackathon Chief Mentor advised the young developers to use the opportunity presented to them to transform and improve the lives of their communities.

“At an individual level, I am always ready and willing to help people attain success. If there is one advise I would give all of you today, it is pull up your sister. Please pull up your sister. Do not go alone because there is no much point. You will not go very far if you go alone,” Kigozi said. 

The Women in FinTech Hackathon and Summit were organized by HiPipo in partnership with Level One Project, Mojaloop Foundation, ModusBox, CyberPLC Academy, and Crosslake Technologies and generously supported by Gates Foundation. The Summit had several thematic panel discussions and speeches.

“Leadership is the ability to see the grey areas and hear the unspoken words. When I talk about this I am asking you to check yourself and ask yourself that as a woman who wants to serve my nation, where do I want to play? Do I want a leadership role, a regulators’ role, innovator’s role, an investor’s role, or a consumer’s role?”, Princess Shamirah Kimbugwe, Pivot Payments Limited the founder and managing director said in her keynote address, adding;

“There is no question as to if a woman is a worthy player in the FinTech industry. There is just a question of where the woman should play in the value chain. There are a lot of opportunities for Women in FinTech. As a woman player, you have a whole list of opportunities that you can tap in to.”

On her part, Damali Ssali, the Private Sector Foundation Uganda (PSFU) chief of programmes and project officer noted that as a way of curbing high transactional costs in the financial technology industry, PSFU is working with partners, particularly HiPipo and Gates Foundation to implement the Pearl of Africa Instant and Inclusive Payment Switch.