Akiba to represent Uganda at global Seedstar Competition

October 4, 2016 in Business, Companies, Financial Services, U by Editor

Kampala October 3-Ugandan startup Akiba beat ten competitors to represent Uganda at the global Seedstar summit for emerging markets and fast growing startups that is due in Switzerland in April 2017.
That puts Akiba in line to give a shot at the $1million in equity investment that will go to the winner of the global startup competition.

“Stanbic is pleased to be the lead partner in this amazing initiative. We are very excited that Akiba will represent Uganda in Geneva in 2017. They have the potential to not only win at the finals but also to become key players in the national and international marketplace,” said Wayne Cook, the Head of Business Banking at Stanbic Uganda.

Akiba and the other 10 contestants were mentored by local lead Seedstar partner Stanbic Bank Uganda and local ambassador Outbox Hub that prepared them to be articulate in pitching their ideas before the judging panel.

“Our collaboration with Seedstars has gone beyond just putting Ugandan startups on the global stage. The relationships built from the network and exposure from Seedstars has placed us in a unique position within the local market to extend these relations beyond Seedstars participants to the general local
ecosystem.” says Richard Zulu, co-founder at Outbox Hub.

Akiba aims to transform finance by making it collective, granting people the tools for practical and transparent management of their finance. “We started this company because my mom was having difficulties trying to make a difference in her community. We are very happy to see that this has transformed into a business,” explains Ivan Mworozi of Akiba.

DusuPay, a platform that wants streamline how African businesses are paid online, came second and Panya, a business that leverages chatbot technology to enable local firms to market and transact products and services directly within Facebook Messenger took the third spot.