Letshego sponsors Spotlight on Business Innovators with BIH

Letshego Holdings Limited has collaborated with Botswana Innovation Hub to host a Pitch Day where 8 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.   

With Letshego’s sponsorship, 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, the panel of Pitch Day judges concluded by commending the entrepreneurs on their outstanding submissions and creative concepts. The top three nominations for Letshego / BIH Pitch Day innovation were awarded as follows.

Position 1: Kwiky represented by Titose Chembezi – Awarded P30, 000 Prize Money

Kwiky is a Business to Business to Consumer (B2B2C) solution that facilitates access to financial services for the underbanked by accessing mobile phone and mobile wallet transaction data from various data points including parastatals, research agencies and onboarding ‘Know Your Customer’ (KYC) documentation, integrating this concept into a comprehensive credit risk framework to support financial services.

Position 2: Digital Diamond represented by Mthabisi Bokete – Awarded P15, 000 Prize Money

Digital Diamond is a free online and offline instant identification application, again to support the financial services sector, to facilitate KYC and credit  applications across geographical borders.

Position 3: PCG Software represented by Letsibogo Ramadi – Awarded P10, 000 Prize Money

PCG Software is a digital solutions firm specialising in tailor-made mobile development and web-based projects. PCG Software has developed ‘Mogwebi CyberPlaza’ – a virtual networking and trade platform that connects businesses to an unlimited online audience to support business continuity, especially as we manage through the Covid-19 pandemic.

Andrew Okai, Letshego Group’s Chief Executive Officer commented, “In our journey to create a world-class retail financial services organisation, Letshego remains committed to developing a relentless innovation culture.  We aim to achieve this by leveraging digital innovation, strategic partnerships and eco-system thinking to enhance customer experience and increase access to simple and appropriate financial solutions for emerging market consumers across the Group’s 11-country footprint. Our partnership with Botswana Innovation Hub is a valuable way Letshego can support local technology innovation by providing financial support, business expertise and potential introductions within our existing network.  Our ambition is to use our strengths and expertise to enable entrepreneurs to expand their growth and income potential.  Letshego strongly believes that through effective partnerships, we can grow our collective potential, exponentially!” ”

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 framework to either support Letshego directly, or the economies and communities where Letshego operates across Africa. 

At the pitch day, Alan Boshwaen, Chief Executive Officer of the Botswana Innovation Hub said, “We all acknowledge that innovation is a critical catalyst in driving Botswana’s Transformation Agenda, hence, supporting innovations requires collaboration between diverse stakeholders. We are glad to have partnered with Letshego Botswana as a player in building national innovation ecosystem. Our innovators stand to benefit from the opportunities availed by this partnership including mentorship, capacity building and commercialization. The prize incentive is a cherry on top”

The start-ups that pitched were selected from a pool of entrepreneurs within the BIH Incubation and Acceleration Programme.  These entrepreneurs benefit from a number of BIH interventions including: 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 small business concepts to grow and thrive.