MTN MoMo is embarking on a journey of innovation, as it proudly unveiled the groundbreaking winners of the MTN MoMo API Hackathon 2023, a transformative event that brought together South Africa's most skilled tech developers to redefine the landscape of demand-driven financial services.
In a competition spanning 15 countries, the MoMo Hackathon, open to South Africans for the first time, witnessed a clash of brilliance from July 31 to October 9, 2023. The judging panel has now crowned three exceptional solutions from the Top 12 finalists, marking a pivotal moment in the evolution of financial technology.
“The MTN MoMo platform offers consumers and businesses easy access to various innovative digital financial services. In South Africa alone, over eight million people are registered on the MTN MoMo platform. This massive user base makes it ideal for local talent, developers, companies, and entrepreneurs to unlock economic growth through financial and digital solutions in their communities, says Bradwin Roper, Chief Financial Services Officer at MTN South Africa.
Meet the Visionaries: The 2023 winners
Zaka – Revolutionising cashflow financing, enabling merchants to cash out Point-of-Sale revenue instantly using the MoMo Wallet.
Tata Imali – Empowering low-income earners through a crowdfunding platform that provides micro lending without the need for credit history.
MoLo - Pioneering P2P lending, allowing lenders to initiate loans with defined terms and for borrowers to seamlessly accept those terms.
These visionary developers showcased exceptional prowess, creating solutions that transcend payment processing, addressing the unique financial needs of their communities.
Roper underscores the impact of these solutions: “We aim to encourage and bring to the fore the talent and creativity of Africa’s developers, enabling them to showcase their capabilities by leveraging the MoMo platform and creating opportunities for their growth.”
These three outstanding solutions not only earned recognition but also secured a share of the USD 10,000 prize money, solidifying their contributions to the evolution of mobile money and financial services in South Africa.
Embark on a new era of financial innovation with MTN MoMo. The future is here, and it's shaped by the brilliance of local talent, carving a path for economic growth and financial inclusion.