Fintechs future looks  bright after launch of  new start-up accelerator

Fintechs future looks bright after launch of new start-up accelerator

THE buzz around Tanzania’s burgeoning financial technology scene is set to get bigger with the launch of the new fintech-focused start-up accelerator.

Pesa-tech accelerator has been set up by a consortium of local firms, Sahara Ventures in partnership with Hindsight Ventures and Enea Advisors.

The new accelerator offers opportunities to fintech start-ups that need help to move on to the next stage of developing their business models and progress from the idea stage to viable businesses,” said Sahara Ventures Chief Executive Officer, Jumanne Mtambalike at the launch of the start-up accelerator in Dar es Salaam recently.

The programme also aims to facilitate linkages between start-up founders and industry experts, coaches, and mentors willing to offer their expertise in different domains that can help start-ups in their venture-building journeys, he said.

“Beyond individual mentors and coaches, the programme aims to partner with organisations interested in adding value to the founders and start-ups in the Tanzania fintech ecosystem,” he added.

He noted that the idea is to support a small number of start-ups and give them the best support in terms of quality by addressing the systematic challenges they face which include lack of exposure both regional and global, mentorship and a strong pipeline for growth.

“The concept of start-ups in general is relatively new in the country and as such we do not have many successful founders to share their experience and offer appropriate guidance,” he said.

Tanzania Commission for Technology (COSTECH) Director General, Dr Amos Nungu, acknowledged that the accelerator is one of the areas where the country can create a pipeline for making investor-ready startups.

“We are still learning but the government is ready to provide an enabling environment because we welcome new technologies,” he said.

UNCDF Tanzania Policy Advisor (inclusive Digital Economies), Aneth Kasebele, said that the fund promotes inclusive digital economies through innovative technologies and a market systems development approach.

Ajay Ramasubramaniam, Co-Founder & CEO, Hindsight Ventures, implementing partners of the project, weighed in on the programme, saying that their experience in implementing multiple fintech accelerator programmes would come in handy to assist local startups gain expertise.

For her part, Catherine Misigaro, Managing Director of Enea Advisors, noted that fintech startups in East Africa have an incredible opportunity to redefine and expand financial inclusion post-mobile money success.

French firms unveil 9.7tri/-  investments plan for TZ

FRENCH private and public investment commitments in Tanzania over ...

Author: DAILY NEWS Reporter

Post your comments



Recent Posts


more headlines in our related posts

latest # news