Zambezi Prize

Kifiya Financial Technology Plc (Kifiya) has received the second place prize at the Zambezi Prize held at the Fairview Hotel in Nairobi, Kenya on June 30, 2015. The Zambezi Prize is an initiative of the MasterCard Foundation and of the Massachusetts Institute of Technology’s (MIT’s) Legatum Center for Development and Entrepreneurship.

The Zambezi Prize supports entrepreneurial ventures in financial inclusion in sub-Saharan Africa.  The Africa wide competition evaluates innovation in technology enabled services and initiatives that will deliver and enable digital financial services as a means to drive financial inclusion.

The prize is open to a wide spectrum of financial inclusion ventures demonstrating innovation and potential for impact, financial sustainability and scalability.  These ventures include, but are not limited to electronic payment systems, customer-centered payment plans, new financial products, or mobile banking instruments.

Kifiya Financial Technology Plc (Kifiya) is a payment service provider and enables digital finance services. Kifiya leverages innovative technology to build and enable distribution channels that make financial and non-financial services affordable and accessible.  The company’s services allow financial institutions, companies, NGOs and government institutions to deliver their services to customers more efficiently, while consumers can easily access and make transactions to receive basic services.

Kifiya came in as first runner up, following the winner, Umati Capital from Kenya.  Applicants from a total of over 100 companies in Africa were considered for the Grand Prize. Five countries namely, Ethiopia, Kenya, Tanzania, Uganda and South Africa produced eleven finalists that were recognized at the Zambezi Prize event. Kifiya was the only company that represented Ethiopia.

Kifiya, along with the other prize winners, will also participate in a seminar (boot camp) sponsored by MIT’s Legatum Center in November 2015. This forum will present Kifiya and other Prize winners with an opportunity to take advantage of MIT’s unparalleled global entrepreneurial ecosystem and engage with experts in the fields of entrepreneurship and financial inclusion.

 

[To read more about the Zambezi prize click here]