In Africa, smartphones remain inaccessible for most of the population since the average cost of a low-end smartphone still exceeds 60% of the average monthly income. The ITC NTF V challenge is looking for African startups facilitating access to smartphones and smart feature phones through device financing models.
Mobile penetration is key to drive economic growth, connect the unconnected and build digital savvy nations. Despite a growing mobile broadband coverage, more than 520 Million Africans do not enjoy internet services, device affordability is one of the major barriers.
Expected Solutions can vary from but are not limited to:
– Bi and tripartite partnership models to finance smartphones
– Digitized smartphone loans/instalment schemes
– Mobile phone lending against services (ride hailing, etc)
– Buy Now Pay Later models
Scope:
Mobile financing plan, credit, BNPL, Mobile devices lending
SELECTION CRITERIA
- Formally registered African digital startup working in the African market, revenues a plus, with track record in smartphone financing
- Well defined and big market size
- Strong team with complementary skills and strong managerial and operational experience
- Scalable solution
- Viable and innovative business model
Benefits:
- Attend VivaTech 2022: sponsor your flight and passes
- Get $5000 cash prize
- Connection to the entrepreneurial tech ecosystem in the African country your challenge covers and beyond
- Linkages with VCs and industry players from our network
Timeline:
- 5 APRIL : Challenge Opening
- 30 APRIL: Challenge Closing
- 16 MAY: Application Results
- 15-18 JUNE: Viva Technology
Application Deadline: April 30th, 2022
For More Information:
