This year marked the fourth year of Lhoft’s financial inclusion initiative with a focus on the African continent. The 2022 edition was hosted in Dubai to coincide with the world expo.

Between 21 to 23 March, nine startups from six countries in Africa--South Africa, Nigeria, Ivory Coast, Zimbabwe, Uganda and Ghana--took part in workshops, meeting with mentors and speakers from Luxembourg and the United Arab Emirates.

The event was aimed at helping them refine business pitches but also creating networking opportunities, with a final presentation in front of an international jury.

Ugandan mobile platform eMaisha Pay convinced the judges at the end of the three-day programme. The startup leverages machine learning, alternative data and psychometric parameters to credit score small and medium-sized enterprises (SMEs) in Africa. This model makes it possible to serve SMEs that previously had no access to finance.

The Inclusion Africa programme is run in partnership with Luxembourg’s Development Cooperation.

EMaisha Pay follows last year’s winner, Emata. Also from Uganda, the startup aims to provide financial products to farmers in East Africa. Emata won €5,000 in prize money as well as free participation and accommodation at African MicroFinance Week.