17th September 2020
Own Correspondent
Letshego Holdings Limited (Letshego Group) has collaborated with Botswana Innovation Hub to host a Pitch Day where 10 innovators showcased their works for potential future mentorship and support.
The Pitch Day enabled Letshego to scout the top 3 innovative solutions, thereafter offering support and mentoring opportunities to transform the entrepreneur’s future growth potential into a reality.
The top 3 innovators were identified during the Pitch Day, enabling Letshego and the Botswana Innovation Hub, to work together in supporting the up and coming entrepreneurs with financial and mentoring support in product solutions, technology commercialisation and capacity building.
Andrew Okai, Group Chief Executive, Letshego Holdings Limited, said “The main reason why Letshego has partnered with the Botswana Innovation Hub for today’s PITCH DAY – is because we share a COMMON GOAL – a goal that I might also assume is ALSO shared with those entrepreneurs and innovators you see before us today. We share the common goal of MAKING A DIFFERENCE in the lives of others – and creating and supporting SUSTAINABLE ECONOMIC DEVELOPMENT.”
He said, “And as such, we align with Letshego’s brand promise and purpose, to IMPROVE LIVES. ENTREPRENEURSHIP and INNOVATION is one of the most important sectors of today’s emerging economies, globally. Not only do these factors offer new growth and employment – but they also provide ADAPTABILITY and FLEXIBILITY – critical elements of success in the increasingly unpredictable economic environment that we find ourselves in today – with or without COVID-19.”
According to the World Bank, SMALL BUSINESS makes up 35% of GDP and contribute 75% to formal sector employment in Botswana.
As such, LETSHEGO remains committed to expanding and diversifying our offering to what we call MSEs or MICRO AND SMALL ENTREPRENEURS – for it is this sector that often falls through the cracks – Reason being that they are not quite big enough to qualify for SME loans with traditional financial institutions – and too big to qualify for individual loans, despite many being individual business owners.
“Our ambition is to support and create eco-systems that not only support the growth of the entrepreneur, but in doing so, benefits and supports other small businesses, and serves to uplift and support many members of the local community, spurring the development of MICRO-ECONOMIES – even in the most rural of areas, irrespective of data networks and intermittent power supply,” said Okai.
The Pitch Day provided 8 startup innovators from BIH’s portfolio a platform to pitch their business ideas to a panel of judges, comprising select executives from Letshego’s regional markets.
After hearing all 8 innovative pitches, and making a collective reflection of each submission against a consistent set of adjudication criteria, the panel of Pitch Day judges concluded the Pitch Day by commending the entrepreneurs on their outstanding submissions and creative concepts. The top three nominations for Letshego / BIH Pitch Day innovation were confirmed as follows:
Position 1 P30,000.00 : Kwiky represented by Titose Chembezi
Kwiky is a B2B2C solution that facilitates access to financial services for the unbanked population by mining mobile phone and mobile wallet transaction data inclusive of other data points from parastatals, research agencies and through on boarding KYC documentation to integrate with its unique credit risk model for identity, origination, payments, loan lifecycle management, and customer service.
Users can apply for credit using the App, WhatsApp/Messenger Chatbot or USSD for low internet connectivity regions. This alternative credit score profile credit’s the user’s wallet to make purchases and loan repayments are transacted on the mobile wallet.
Position 2 P 15,000.00 : Digital Diamond represented by Mthabisi Bokete
Digital Diamond is a free online and offline instant identification application (that doesn’t need to be downloaded, No space, No problem) and stores valid user data to enable the users to rapidly complete log book, registers, forms and KYC applications at the tap of a button, regardless of the user’s location.
A six-character users Digital Diamond Secure No and QR code is generated, which will toggle between a verified and unverified secure identity if users address, last name or contact details changes.
Position 3 P10,000.00 : PCG Software represented by Letsibogo Ramadi
PCG Software is a digital solutions firm specializing in tailor-made mobile development and web-based projects. PCG Software has developed Mogwebi Cyber Plaza – a virtual networking and trade platform that connects businesses to an unlimited online audience for business continuity in the face of Covid-19 pandemic. Mogwebi Cyber Plaza enable events, trade fairs and business expositions to operate online allowing organizers and participants to adhere to COVID-19 virus containment measures.
The winning solutions will work with partners to manage subsequent development of the proof of concepts. This will include innovation sprints sessions and hackathons, leveraging BIH’s tried and tested innovation management frameworks to either support Letshego directly, or the economies and communities where Letshego operates across Africa.
Alan Boshwaen, Chief Executive Officer(CEO) of the Botswana Innovation Hub(BIH) said, “We all acknowledge that innovation is a critical catalyst in driving Botswana’s Transformation Agenda, hence, supporting innovations requires collaborations between diverse stakeholders. We are glad to have partnered with Letshego Botswana as a player in building national innovation ecosystem.”
He said, “The start-ups pitching today have been carefully selected from a pool of start-ups within our Incubation and Acceleration programme where they benefit from a number of interventions such as; technical advice, coaching, mentorship, access to markets, access to partner programmes, office space, subsidised corporate tax, special dispensation of the import of skilled personnel and many other tailored interventions to help them grow.”
