Kenya is run on the wheels of SMEs. SMEs in Kenya employ at least 86 percent of the population and contributes close to 45.5 percent to the gross domestic product (GDP).
It was not a surprise when the Central Bank of Kenya released a list of 15 finalists for the Virtual Africa Hackathon 2020, 7 of the SMEs on the list were from Kenya.
The 15 were:
- Artisan Pay, Cameroon
- CrossPath, Libya
- MobiVocha by Blue ICT
- Last Mile Medicine, Kenya
- Sahani by Zavora, Kenya
- Solutions, Kenya
- Loniwa, Kenya
- SMECredit Pro, Cameroon
- MIZA A2F, Tunisia
- The Guarantee Company, Kenya
- Fundi247, Tanzania
- MobiCash, Libya
- Venue369, Kenya
- Kouran Jabo, Chad
- We-DARE by Ryken
- Business Intelligence, Kenya
- Wiretooth Technologies by Finaclusion, Nigeria
Despite the fact that Kenyan SMEs took the lion’s share on the top 15 list, they failed to make it to the three winners released by the Central Bank of Kenya (CBK) on Monday.
The three winners announced by CBK were:
- SME Credit Pro from Cameroon
- Miza A2F Platform from the United Arab Emirates/Tunisia
- MobiCash from Libya
“The top three winners were selected after a rigorous evaluation process that saw 15 shortlisted finalists pitch their solutions to an experienced panel of judges on the Demo Day on August 31, 2020,” said CBK in a statement.
The theme of the Hackathon was “Harnessing Fintech in addressing COVID19 effects on healthcare, digital payments, and economic recovery,” according to CBK.
The overall winner of the Hackathon, SME Credit Pro from Cameroon will participate in the Global Fintech Hackcelerator at the Singapore Fintech Festival (SFF) scheduled for December 2020.
The SFF, the world’s largest fintech event, is convened by the Monetary Authority of Singapore (MAS). The 15 finalists will benefit from training, mentorship, and collaboration opportunities from some of the Hackathon’s partners.