Agriculture based Fintech feature largely in the award winners of the Betway Fintech Challenge in Accra with Kwidex (a crowdfunding sited for agriculture) winning the ultimate prize.
The final event was held at the Accra Digital Centre in Ghana to adjudge the best Fintech solution with the most original, creative, socially viable product that could be easily implemented in Ghana.
The winner of the Fintech Challenge walked away with GHC 20,000, six months business support from Empower and ISpace and the bragging rights as winners of the maiden Fintech Challenge in Ghana.
Ten finalists faced off to pitch their ideas to a panel, the audience and the sponsors aiming for the ultimate prize. Runners up Nocofio, (an agriculture support Fintech linking investors to agriculture projects in Ghana) and Pennysmart, (an online investment platform and susu application) came in second and Third respectively.
Fintech, a merger of the words Financial and Technologies, is acknowledged as the next disruptive technology capable of lifting the world population in the developing world out of poverty and to meet some of the UN Sustainable Development Goals.
“The Betway Fintech Challenge was set up to create an environment for entrepreneurs to build solutions that help address in the delivery of financial services to a broader range of Ghana’s population. Over the last month, all participants have shown a keenness to do so,” said Magnus Rex Danquah, the Country director of Betway.
When asked what distinguished Kwidex, team head of Kwidex, Seyeram Kofi Mantey said, “All the ideas that came and business have a really solid product. As to how we emerged the winners, I could say we have a functioning platform that is easy.”
Some other participants like Base (a backend Identity verification product), and Akamilast (a financial product that helps users in the informal sector save towards their pension) had impressive and disruptive technologies products that were socially impactful. Even with pitches that pleased the audience Base and Akamilast came in fourth and fifth place in the competition respectively.