November 3, 2018 IBOMLLC Team

Three African startups part of Phase-One winners of the Mastercard Fund for Rural Prosperity

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

The Mastercard Foundation Fund for Rural Prosperity (FRP) has announced the nine startups from seven countries to which it will award over $9 million. These are startups whose projects seek to extend financial inclusion to people living in rural areas, and some of these startups are from Africa.

The nine selected startups were handpicked from over 300 applicants who were vetted through a two-phase competition that ran from June 2017 and to January 2018. Mastercard mission for FRP is to enable startups with innovative and scalable financial products and services help improve access to financial services for the poor living in rural areas of Africa.

There will be two more additional lists of winners of FRP assessed as part of the 3rd and 4th phase of this competition. The list will be announced next year. But for this phase one list, the African startups to make the cut are as follows:

Startup Country Description
Apollo Agriculture Kenya Gets $1.09 million to put towards helping rural farmers in sub-Saharan Africa get farm inputs and advice on credits.
SolarNow Uganda They secured $740k to scale its solar-powered …read more

Read more here:: Three African startups part of Phase-One winners of the Mastercard Fund for Rural Prosperity

      

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