More than 88,500 telecom operators, entrepreneurs, corporations and government institutions came to the event in Barcelona to network and forge important relationships through connectivity.
The event is organized by the GSMA, a group of mobile network operators from around the world. In September, the International Trade Center (ITC) and the GSMA formed a working group to help more small businesses in underdeveloped countries connect to the internet.
The 4YFN Innovation Hall had companies from Benin, Senegal, Tanzania, Uganda and Zambia. The name comes from the idea of looking into the future, or “4 Years From Now”.
Sparco, a Zambian startup, received first place in a global pitch competition for fintech startups.
For African tech startups, the exhibition provided an opportunity to find new business prospects and show the world what Africa has to offer in terms of technology. Technology increases financial inclusion and connects people to digital services. This is especially true in Africa, where many people use mobile money instead of traditional banks.
The companies in the ITC Pavilion use financial technology (fintech) and marketing technology. (martech). The trip to Barcelona allowed the companies to attract more attention and strengthen their partnerships or relationships with telecom companies.
Beem in Tanzania and LAfricaMobile in Senegal are marketing platforms that give individuals access to multiple services that help businesses improve their customer communications.
In Uganda, Sparco, ChapChap and GnuGrid facilitate access to financial services and credit assessments. In Benin, FedaPay does the same.
Sparco and ChapChap were asked to take part in the most important fintech battle competition. They competed against Austrian and Spanish startups. By winning the competition, Sparco received a lot of good coverage, qualifying for the 2024 edition and meeting more investors.
Centrally located at the event, the ITC Pavilion provided startups with easy access to influential players in the mobile and connectivity industries, facilitating connections and business opportunities.
For companies that already had customers and partners in Europe, the event helped them to gain even stronger roots in the European market and strengthen their relationships with these customers and partners.
Granryd Mats, Head of GSMA, spoke to the team about their ongoing collaboration with ITC, putting small businesses at the heart of connectivity and highlighting how fintechs and mobile money are making financial services easier for people in Africa.
The startups’ work is transforming the tech business in Africa by addressing challenges including lack of access to credit scores, large numbers of unbanked people and a deep digital divide. African startups can show the world what they can do by sharing their work at international events like 4YFN.
We are very happy that we were able to go to Mobile World Congress in Barcelona where we saw amazing new developments in 5G technology, AI, IoT and more.
Anata Ba, Sales Director of LAfricaMobile, said the best way to compare products, technologies and solutions that can be profitable for our region across all developments is to attend the event. In our quest to connect the people of Africa to the rest of the world, we have also encountered tremendous potential customers and prospects. Work now to make all of this happen!”