Chosen from over 243 companies, uKheshe is part of a small group of 12 companies selected for the programme who share the mission of promoting financial inclusion in Africa.
Developed by Luxembourg House of Financial Technology (LHoFT), the successful programme targets companies that actively empower groups left behind by traditional financial systems, while also aiming to establish meaningful links between Africa and Europe.
Clayton Hayward, Co-founder, uKheshe, says that the company is constantly evolving in order to meet the real needs of the unbanked being underserved by traditional financial institutions.
“We are thrilled to be selected to be part of such a prestigious international programme like CATAPULT and look forward to playing an even bigger role in delivering financial innovation and inclusion for unbanked and underbanked consumers,” he said.
Launched in November 2018, the uKheshe solution enables informal merchants and consumers to make and receive payments by using their channel of choice. uKheshe is also Mastercard Masterpass certified creating a bridge into the unbanked and card economies.
More recently, uKheshe introduced affordable life and health insurance options for card holders with a range of benefits including hospital, disability and emergency cover previously out of reach for millions of South Africans.
uKheshe will join other leading fintechs from March 1 to 8 to participate in the LHoFT’s unique development programme, including a training and networking bootcamp which aims to leverage Luxembourg’s inclusive finance and fintech ecosystem to support the 12 selected firms in developing their businesses and achieving their inclusion goals.
“In addition to providing easy, hassle-free and affordable fintech solutions to those that need them most, uKheshe is also looking to the future where convenient, cashless financial products and services work with an individual’s lifestyle needs,” added Hayward.