Kwidex, a start-up based in Accra emerged as the winner of the first Betway Fintech Challenge. The final round of the Betway Fintech Challenge was held at the Accra Digital Centre with ten (10) finalists competing across two (2) rounds.
During each round, teams pitched their proposals to a three-person expert panel. The three-person team from Kwidex led by Seyram Kofi Mantey impressed the panel who awarded the company the GHC 20,000 grand prize.
Nocofio and Pennysmart were the first and second runners-up and received cash prizes of GHC 15,000 and GHC 10,000 respectively.
Kwidex is a crowd-funding platform. Product owners get to source funds from the public to support the running of their businesses. People who invest in these businesses receive returns on their investment from them after an agreed period.
Nocofio is an application that allows you to invest into or own part of a farm by connecting you to a farm. The platform connects farmers with finance. Investors experience owning a farm through the web platform with updates of the whole farming cycle from planting/rearing to off-loading with pictures and videos. The farmers are able to expand their farms with the funds raised while you make passive income from the interest paid by the farmer when the full farming cycle is over.
Pennysmart offers a platform that enables individuals and businesses to save towards their goals at their own pace and schedule. It is a financial inclusion platform that helps people save anytime and anywhere at no cost.
Magnus Rex Danquah, Betway Ghana Country Manager(Operations) congratulated all the finalists and encouraged the teams to utilise the skills they had been taught over the three-month competition.
“We want to congratulate all ten finalists who are here today,” said Danquah. “The Betway Fintech Challenge was set up to create an environment for entrepreneurs to build solutions that help address challenges in the delivery of financial services to a broader range of Ghana’s population. Over the last few months, all participants have shown a keenness to do so.”
The Betway Fintech Challenge was held over three months during which participants received training on pitching, branding, marketing, organizational structuring, and investor relations from seasoned professionals.