Zim startup Umojalands named among winners of Inclusive Fintech 50 program

Local startup Umojalands has been named among the winners of the Inclusive Fintech 50 (IF50) program. The initiative is a global innovation competition that aims to identify and elevate cutting-edge emerging inclusive fintech startups that have the potential to drive financial inclusion.

Over the last three competitions, IF50 has attracted over 1,000 eligible applicants. According to IF50, past winners have collectively increased their funding by $620 million in the year following their win.

Umojalands was selected because it is trying to reduce the risk of lending to smallholder farmers in Zimbabwe by what the startup calls “intelligence logic derived from alternate datasets, thereby giving a good and comprehensive overview of the underbanked small-scale farmer.“

Umojalands also makes use of multispectral satellite imagery to convert soil, crop and climate data into actionable insights which can be used to closely monitor risk at any point in the growth cycle of a crop.

One of two wins for Umojalands this month

The startup also won the “Solve for Africa Challenge 2022” at the recently ended YouthConnekt conference in Kigali, Rwanda. The prize was for the same product line that saw them among the winners for the IF50 Challenge.

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