The DRC Innovation & Financial Services Challenge is a competition organised by FSD Africa in partnership with the Central Bank of Congo to promote the development of innovative, relevant and value-added payment solutions and financial services in the Democratic Republic of Congo.
Following an in-depth selection process, FSD Africa and the Central Bank of Congo have selected 6 companies from across the country to move forward to the final stage of the challenge.
The final stage of the competition will see each of the 6 finalists receive technical assistance from FSD Africa and the other contributors, including an individual grant proposal from FSD Africa of $13,000 USD provided to each of the finalists. At the end of the final stage, two winners will be selected to have access to the FSD Africa investment process, with the possibility of raising up to $130,000 USD each in funding.
Infoset SARL, A H&F Consulting SARL and Pluritone SAS were selected as finalists as they proposed innovative financial solutions to help with the economic and social development of the Congo. Smart Information eXchange SARL, Flash Services SARL and SINTEL SARL were selected for being innovative companies able to offer financial solutions to meet the needs of displaced populations and refugees in the region.
Henri Plessers, Country Manager, DRC, FSD Africa said: “Innovation in financial services is the key to ensuring democratic access to the core products that every person in Congo should be able to use. We are proud to be supporting this exciting competition and would like to thank all the applicants for their submissions and all thecontributors who agreed to support the development of these projects in the best possible conditions, with a view to creating value for the national economy and Congolese society. We look forward to working with the 6 finalists as the competition continues.”
Mr. Deogratias Mutombo Mwana Nyembo, Governor of the Central Bank of Congo, said: “We are pleased to congratulate the 6 companies selected for the second phase of the call for applications, as well as the other 93 candidates. We thank them all for the quality of the solutions proposed. We would also like to thank the members of the juries – from the Central Bank of Congo, UNHCR and FSD Africa – as well as the auditors for their consistent and meticulous work, despite the many constraints and the impact of the health context. Their verdict now allows us to select these 6 candidates for the next stage, with an individual grant of USD 13,000 proposed by FSD Africa, a programme funded by UK Aid.”