MIT's Legatum Center for Development and Entrepreneurship has announced the 10 Afrikan startups that will be finalists of the 2018 edition of the Zambezi Prize. The Zambezi Prize for innovation in financial inclusion, is being hosted in collaboration with the Mastercard Foundation.

At stake, for the finalists, will be a total of $200,000 in prizes.

β€œThe finalists demonstrated strong leadership and innovation in the way they are solving financial inclusion challenges. We also want to thank the hundreds of great startups that applied to this competition and shared with us their inspiring ventures, visions, and insights for advancing financial inclusion. We hope to keep them all engaged through our upcoming initiatives," said Ali Diallo, Global Programs Manager of the MIT Legatum Center.

Innovation in financial inclusion

The 10 Afrikan startups that have been selected as finalists for the 2018 Zambezi Prize for innovation in financial inclusion are:

  • Apollo Agriculture (Kenya)

  • Bidhaa Sasa (Kenya)

  • FarmDrive (Kenya)

  • Farmerline (Ghana)

  • LanteOTC (South Africa)

  • MaTontine (Senegal)

  • OZE (Ghana)

  • RecyclePoints (Nigeria)

  • Tulaa (Kenya)

  • Wala (South Africa)

β€œWe are pleased to welcome the 2018 finalists into the MIT Zambezi family. They represent some of the world’s most innovative change agents,” said Georgina Campbell Flatter, the Executive Director of the MIT Legatum Center.

The finalists will join leaders from the MIT and Afrikan tech ecosystems on 28 to 29 August 2018 at the 2018 MIT Open Mic Africa Summit in Nairobi, Kenya. The two-day event will include a VIP reception followed by the award ceremony at Strathmore University where the Grand Prize Winner will be awarded $100,000. Two runners-up will each receive $30,000 while the seven remaining finalists will each receive $5,000 in cash prizes. Additionally, the Legatum Center will award $5,000 to an African entrepreneur who demonstrated great leadership qualities to unify Africa’s tech ecosystem. All finalists will participate in cohort-building and mentoring activities with MIT leaders and Zambezi alumni companies during the event.

Cover image credit: MIT Legatum Center and Mastercard Foundation.

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