Luxembourg’s LHoFT Foundation has launched the 6th edition of CATAPULT: Inclusion Africa, an acceleration bootcamp program aimed at supporting African companies focusing on financial inclusion. The program will run from October 16th to 20th, 2023, in Togo and will be conducted in French. Developed by the LHoFT Foundation, the program is supported by the Directorate for Development Cooperation and Humanitarian Affairs and aims to build bridges with Luxembourg’s Microfinance industry while highlighting their initiatives in alignment with Luxembourg’s finance center’s sustainability goals.
To Apply, visit https://lhoft.com/en/catapult/africa/
The Luxembourg’s LHoFT Foundation is set to run a five-day training and networking boot camp in Togo from October 16 to 20, 2023. The boot camp will be open to ten selected fintech firms dedicated to promoting financial inclusion in Africa. The programme leverages Luxembourg’s Inclusive Finance and Fintech ecosystem to help selected firms develop their businesses and meet their inclusion goals. The initiative will connect African financial inclusion fintechs with microfinance institutions, investors and industry experts, helping them reach underserved market segments more efficiently. The boot camp will be conducted in French and is fully funded by the Luxembourg government, aligning with the sustainability goals of Luxembourg’s financial centre. It is being delivered in collaboration with key stakeholders from the microfinance, sustainable finance, and traditional finance sectors. Selected firms must have at least a minimum viable product (MVP) and be active in the financial inclusion field. They must also be fluent in French and agree to provide ongoing performance metrics and business status for a period of three years post-programme completion to the LHoFT for evaluation purposes.
Selected firms will receive customized support to help them achieve their inclusion goals and leverage Luxembourg’s inclusive finance and fintech ecosystem to develop their businesses. In addition, the program will culminate with participation in the African Micro Finance Week (SAM), where firms can make meaningful connections with entrepreneurs, VCs, IMFs, and many others in the microfinance community.
According to the LHoFT Foundation, the program builds on the success of previous editions of CATAPULT: Inclusion Africa since 2018, and is an integral part of their commitment to promoting financial inclusion and empowering marginalized groups through financial technology and innovation. With this latest edition of the program, the LHoFT Foundation hopes to continue driving positive change and making a real difference in the lives of people around the world.
Eligibility criteria for the CATAPULT: Inclusion Africa program are as follows:
- Selected firms must have a Minimum Viable Product (MVP) that is demonstrable and are likely to be in the pre-seed to seed stage of funding.
- Companies must be active in the financial inclusion field and must be helping underserved and unbanked populations in Africa to access financial products and services.
- Companies will need to provide all necessary information to the LHoFT to assess the project’s viability, company, and background of owners and key shareholders to limit the risks of non-compliance or doubtful application to the program.
- Selected firms must agree to provide on-going performance metrics and business status for a period of three years post-program completion to the LHoFT for the purposes of program evaluation.
- A founding team member, typically the CEO, must attend the program for the entire week.
- Firms in payments and related services are particularly encouraged to apply.
- Participants must be fluent in French since the program will be run in French.