Fintech startups boost Africa’s economy

November 1, 2016 7:26 am0 commentsViews: 13

sap-startupJOHANNESBURG, (CAJ News) – AN innovative platform connecting job seekers and employers has emerged the winner of a competition encouraging innovation among startups in Africa’s financial services technology (fintech) industry.

BriteCap is the winner of the SAP Start-up@RISE Africa, an initiative by SAP Africa and Barclays Africa’s Rise Cape Town.

It forms part of the Global SAP StartUp Focus initiative that began in 2012 and kicked off in South Africa in 2013.

Elke Simon-Keller, Innovation Lead at SAP Africa, says the panel was impressed by the innovation and disruptive potential of the start-ups.

Each has the potential to boost the African economy and ultimately drive prosperity.

Beta Wealth, Fomo Travel, Aliens Moonshot, Revel8 and Zazu also participated after their invitations to pitch their business ideas to a panel of experts and potential business connections led by Nicole Anderson, a global expert in fintech.

The companies were invited to a comprehensive training session focused on how to develop prototypes using the SAP HANA Cloud® technology late October.

The qualifying startup has been awarded an Apple Macbook Pro and will also receive a complimentary three-month membership to Rise Cape Town, a gathering space renowned for its innovative approach to hosting Africa’s brightest minds in the financial services technology industry.

To date SAP has impacted over 3 750 startups across Africa.

“Through our collaboration with Barclays Rise, we hope to expand the forum into the rest of Africa and leverage our technology and network to create viable commercial opportunities for South African fintech startups,” says Simon-Keller.

BriteCap provides an employer benefits platform that connects employers with blue collar workers.

Its vision is to bridge barriers to employment within the lower skilled labour market and help employers find and retain financially healthy employees, increasing productivity and decreasing employee churn within this market sector.

CAJ News

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