Safaricom, in partnership with M-PESA Africa and Sumitomo Corporation, has unveiled the nine promising startups selected for the Spark Accelerator Program. Focused on accelerating early-stage startups in the fintech and content space, the program aims to support these innovative businesses in scaling and growing. The recipient startups were chosen from categories including Embedded Finance, Future Fintech, SME Productivity Tools, and Content, following a rigorous application process.
The Spark Accelerator takes an ecosystem-based approach, offering a blend of training, mentorship, and go-to-market support. This initiative provides the startups with essential resources such as access to markets, technology, product development support, and capital. Peter Ndegwa, CEO of Safaricom, emphasized the program’s mission: “By supporting and investing in these tech-enabled startups, we aim to drive significant societal change and economic growth.”
Among the selected startups, Chumz and Nobuk represent the Embedded Finance category, leveraging mobile money and streamlining payment collection respectively. Under the SME Productivity Tools category, Chpter, Faidi HR, Churpy, and Twiva are set to enhance business efficiency through innovative solutions ranging from AI-powered platforms to social-commerce and payroll automation.
HealthX Africa and BlackRhino VR, shortlisted under the Content category, are using technology to improve healthcare accessibility and enable immersive storytelling. VunaPay, a platform facilitating instant payment to smallholder farmers, rounds out the cohort in the Future Fintech category. These startups showcase the diverse and impactful applications of technology in various sectors.
Katsuya Kashiki of Sumitomo Corporation expressed enthusiasm about the collaboration, stating, “We are excited to expand digital financial services and contribute to the development of the Kenyan and African economies.” Similarly, Nissi Madu of iHUB/CcHUB highlighted the transformative potential of these startups, noting their capacity to improve the quality of lives for millions of Kenyans.
Safaricom’s strategic partnership with M-PESA Africa and Sumitomo Corporation underscores their commitment to fostering innovation and economic prosperity. The Spark Accelerator will leverage a team of founders and experts to drive product innovation across industry verticals, paving the way for a more prosperous future for Kenya and Africa.
#Innovation #Startups #Fintech #DigitalTransformation #TechStartups #Safaricom #MPESA #SumitomoCorporation #AfricanProsperity #Entrepreneurship #TechEcosystem
