Niger is organising a large competition for national and international Fintech and startup companies. The Smart Villages Project for Rural Growth and Digital Inclusion is organising this programme (PVI). The competition winners will receive subsidies ranging from 5 million to 145 million FCFA, as well as technical assistance.
The START-UP & FINTECH CHALLENGE (SFC) competition aims to stimulate the development of new digital solutions with the goal of stimulating digital financial inclusion in Niger. The competition was launched on Saturday, October 22, 2022, in Niamey.
The competition will focus on three Fintech and start-up categories in particular:
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- Startups or Fintechs in seed: that is, those that do not yet have prototypes or are developing prototypes.
- Startups or Fintechs in the development phase: which are developing a product (or service) to stimulate financial inclusion in Niger, or which have already developed and are in operation.
- Startups or mature Fintechs: with a working product/service, functioning in Niger or planning to operate in Niger, and seeking a grant to accelerate their growth.
A jury of national and international experts will evaluate potential grant beneficiaries based on a business plan, level of creativity, and the suitability of the solution with Niger’s circumstances. The selecting process will be divided into two (2) stages:
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- Respond to the application call by uploading an online file;
- As part of a virtual meeting, the proposed solution is presented (Zoom or teams)
The winners of this competition will get grants ranging from 5 million to 145 million FCFA, as well as technical and financial support.
Applications are made online via the address: www.pvi.ne
PS: Female candidates are strongly encouraged.
A Look At PVI
The Government of Niger has acquired a credit and a grant from the World Bank Group to finance the Smart Villages Project for Rural Growth and Digital Inclusion (PVI) implemented by ANSI (Agence National for the Information Society). This project seeks to provide high-speed internet connectivity to over 2,100 communities, as well as to promote digital financial inclusion and the growth of Niger’s Fintech industry.
The Smart Villages Project consists of five (5) components, which are as follows:
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- Component 1: Enabling Environment — Establish a suitable legal and regulatory environment to encourage the growth of digital infrastructure and digital financial services.
- Component 2: Rural Connectivity — Increase the number of villages with digital connectivity (telephony, Internet, mobile payments, and so on);
- Component 3: Digital Financial Inclusion — Promote digital financial inclusion in smart villages and other rural areas.
- Component 4: Project management and stakeholder capacity building.
- Component 5: Emergency Response Plan (CERC).
Component 3 of the PVI Development Objectives aims to stimulate the use of digital financial services in rural areas, primarily through mobile money, in order to promote financial inclusion with a particular focus on women and young people, and thus contribute to improving the rural population’s well-being and economic development.
Start-Up Fintech Challenge Niger Start-Up Fintech Challenge Niger
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh