Young Mozambicans create innovative technological solutions to promote the use of and access to financial services in SADC

Young Mozambicans create innovative technological solutions to promote the use of and access to financial services in SADC

Creating innovative technological solutions to promote the use of and access to financial services in the Southern African region is a key challenge that unites young people from the member countries of the SADC region. To address this challenge the SADC Innovation Challenge was launched in February 2020 by FinMark Trust (FMT) to support the design of innovative technological solutions that promote the use of and access to financial services in the region. A series of events were undertaken from initial physical events, and later virtual bootcamps and training webinars, guided by key thematic challenges (financing for SMEs, women and savings, digital financial identity, and access to basic services).

In Mozambique, the Financial Sector Deepening Mozambique (FSDMoç) and ideaLab implemented the Innovation Challenge at national level, and have been driving the objectives and the training of participants – all to bring meaningful solutions to market. FSDMoç has been supporting various initiatives in the field of innovation for many years and were the forerunners to embrace this regional Innovation Challenge, especially as the themes brought up for the competition reflect the country’s biggest challenges, and FSDMoç see infinite potential in the solutions our young entrepreneurial players can bring to market. The implementation of these ideas can contribute greatly to mitigate social problems that affect a large part of the populations of the region.

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Author
Denise Alves