the Information Technology Industry Development Agency (ITIDA) announced CreditGO – B2B payment aggregator & merchants wallet for small businesses, as the second place winner at the African App Launchpad Cup 2020 competition, awarded with 8,000 USD. The competition which is considered the first of its kind in Africa, gives early stage entrepreneurs and startups from all over Africa the opportunity and space to showcase their innovative ideas and present their business projects.
CreditGO pitched their business model, a free mobile application for electronic payments that serves C and D segments’ merchants located in tier 2 cities and introducing cashless payments & digitalization; thus achieving financial inclusion, create jobs and generating operating income to everyone.
The announcement took place within the framework of the activities held by The African Launchpad for creating games and digital applications ; a presidential initiative aimed to develop the capabilities of 10,000 Egyptian and African youth, qualifying them to develop digital games and applications using the latest technologies. The initiative targets to support the creation of 100 startups in Africa in App and game development in cooperation with the Ministry of Foreign Affairs and a number of international companies, ministries and institutions in various African countries.
Commenting on their winning, Sherine Ewase, Deputy CEO of CreditGO said: it’s a great honor for us at CreditGO to win second place among these outstanding multinational African startups and compete with their creative ideas, being able to present and convince the jury with the vision of CreditGO
We aim to play an essential role in society and build a strong foundation for financial inclusion across Egypt, to have a positive impact on the community and the economic development of the country. We have achieved 3 million pounds in change, resulting from 75,000 transactions carried out by 2500 CreditGO users, and this is a validation for our hard work, dedication and commitment to our vision confirms Ewase.
CreditGO are working towards their growth and expansion phase where they look forward to reaching a wide and diverse segment of Egyptians who will benefit from the services, while educating them about the importance of digital transformation.
More than 180 startups from various African countries including Egypt applied to the competition, who were shortlisted to 50, and then to 24, to announce the final 7 winners for the first, second, third, and fourth places, four of which are in the applications category and three in the games category, and Egypt had four winning contestants in this list.
The African Launchpad for creating games and digital applications initiative has graduated 1,911 graduates this year, making the total number of graduates 3,064 since its launch in 2019.