Start-ups to benefit from Betway Fintech Challenge competition

Betting outfit Betway has launched the Betway Fintech Challenge in Accra aimed at providing funds for start-ups, to establish and become world class companies.

The initiative is also aimed at building companies that would impact on the finance and technology space and subsequently create wealth for themselves and the country at large.

Country Manager of Betway, Kwabena Oppong Nkrumah explained that, in all, about 30 start-ups were expected to apply from now till March 19 where qualified applicants would be shortlisted.

He added that, the finals are scheduled for May 17 where winners would be provided with funds to support their businesses.

“The first prize would be GH¢20,000 while the second and third positions would receive GH¢15,000 and GH¢10,000 respectively. All 10 finalists would also receive GH¢1000 for their efforts,” he stressed.

The five challenge areas he said include, Customer Connection and Experience Innovation, Data-driven Designs, Investment and Wealth Management, Blockchain and Organisational or Process Transformation.

According to Mr Oppong Nkrumah, the company had always contributed to the technology space as well as the financial inclusion drive of the country.

“We also intend to empower wholly-owned Ghanaian companies as we look forward to solutions to tackle problems within the financial and technology space,” he stated.

He urged the youth to take advantage of the opportunity to establish their businesses and also make a good living for themselves.

In his keynote address, Mr Yaw Osei Dabanka of the National Investment Bank (NIB) said he was glad Betway had shown interest in Fintech as there was more to be done in the area.

With the emergence of technology and internet, he said many young people must be committed to the area and find opportunities to address the several challenges within the space and make wealth out of it.

“I am excited about the challenge as great ideas would emerge and would be used to transform the financial and technology space,” he stated.

He urged contestants to concentrate on creating real value as it would subsequently lead to wealth creation and also learn to form partnerships for development.

 By Michael D. Abayateye

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