Application Deadline: 18 March 2024
Applications are now open for the UNCDF Malawi Fintech Challenge. The Malawi Fintech Challenge, a flagship initiative led by the United Nations Capital Development Fund (UNCDF) in collaboration with the Reserve Bank of Malawi (RBM) and supported by the European Union (EU) and the Organization of African, Caribbean, and Pacific States (OACPS), aims to further financial inclusion in Malawi.
The Malawi Fintech Challenge is more than a competition; it’s a platform for cross-sector collaboration, inviting diverse stakeholders from the financial ecosystem to unite in promoting economic prosperity, improved livelihoods, innovation and inclusivity.
Requirements
- The Request for Application (RFA) targets Fintechs, technology companies, payment service providers, and financial technology service providers, both local and international, with market-ready solutions aimed at addressing the problem statements of pre-selected implementing partners in Malawi.
Solutions to be supported
Loan Management Solution that facilitates uncollateralized loans and provides a platform for MSMEs and smallholder farmers to gradually build their credit history.
Innovative digital solution leveraging FADC’s critical data points to optimize service delivery and increase access to financial services.
Digital scorecard and a scoring engine platform that utilizes existing VSLA data to support TNM in expanding their financial services offerings, specifically access to credit.
Benefits
Successful applications will receive
- Access to grant funding to help pilot and implement solutions
- Technical assistance to develop and test your solution
- Mentorship and incubation support from industry experts
- Market Linkages with partners and other key stakeholders
Timeline
Launch of Fintech Challenge
Feb 2024
Information Sessions: Register Here!
14 March 2024
Deadline for Queries
17 March 2024
Deadline for Submission
18 March 2024
Evaluation
April 2024
Bootcamp
May 2024
Selection of FinTech’s
May 2024
Project Design and Contract Negotiation
June 2024
Project Implementation
August 2024
For More Information:
Visit the Official Webpage of the UNCDF Malawi Fintech Challenge