Six African entrepreneurial ventures receive $400,000 in funding from the FINCA Ventures Prize competition
In a grand event held in 2025, the FINCA Ventures Prize competition celebrated its flagship initiative, championing innovation in fintech for financial inclusion and climate-smart agriculture. The competition attracted over 300 applicants from across the African continent, showcasing the continent's vibrant entrepreneurial spirit.
Andrée Simon, the global CEO of FINCA, emphasised the importance of backing local solutions to complex challenges and attracting global investment. She stated that African entrepreneurs are designing solutions to these challenges and deserve support that matches their ambition.
The competition featured two categories: climate-smart agriculture and fintech for financial inclusion. In the climate-smart agriculture category, Esther Kimani of Farmer Lifeline Technologies took first place, receiving US$100,000 in catalytic funding. Eliud Rugut of Silo Africa claimed second place, receiving US$60,000, and Samuel Muyita of Karpolax secured third place with US$40,000.
In the fintech for financial inclusion category, the competition was just as competitive. Foluso Ojo of truQ clinched the first place, pocketing US$100,000, while Ebby Gatamu and Kibe John of Cladfy took second place, earning US$60,000. Christian Nwachukwu of 10mg Health rounded off the category in third place with US$40,000.
The six winning startups advanced to the final round of the competition, where they competed for catalytic funding to accelerate their impact. The resources provided by the competition are intended to accelerate growth, open doors, and amplify the impact of the winning startups.
While the competition did not specify which startups won in each category, it is clear that the African entrepreneurial landscape is brimming with innovative ideas and potential. The 2025 FINCA Ventures Prize competition served as a testament to this, with the winning startups sharing US$400,000 in catalytic funding.
As we look to the future, it is exciting to see how these startups will grow and make a significant impact in their respective fields. The FINCA Ventures Prize competition continues to play a crucial role in fostering innovation and supporting African entrepreneurs, setting the stage for a more sustainable and inclusive future.
