eQub, a fintech startup aiming to digitize equb (peer-to-peer saving groups), and HuluCares, a startup focused on providing community-based Idir insurance, have been selected for the inaugural Timbuktoo Fintech Startup Accelerator Program.
These two startups were chosen from among 817 applicants across Africa. A total of 42 startups from 31 countries were selected to participate in the program in Lagos, Nigeria.
“We plan on leveraging this opportunity by engaging with African stakeholders, investors, fellow startups, and partners to scale our company to the next level,” Alexander Hizkias, co-founder and CEO of eQub, told Shega.
Inspired by the city of Timbuktu in Mali, the Timbuktoo Initiative was launched in January 2024 as an ambitious plan to mobilize and invest one billion dollars to nurture entrepreneurial ventures across Africa. The Timbuktoo Fintech Hub in Lagos, Nigeria, serves as the first of 10 planned technology centers across the continent, with future hubs slated for Kigali, Cairo, Cape Town, Accra, Casablanca, Dakar, and Nairobi.
In April, it was announced that Addis Ababa is inching closer to becoming the ninth hub of this ambitious pan-African initiative.
The selected startups will participate in a four-week immersive bootcamp, receiving product refinement and scaling support. This intensive program includes pitching sessions with Africa’s leading investors, masterclasses with fintech experts, and fireside chats with industry executives. The bootcamp will be conducted in a hybrid format, offering continuous virtual support alongside a two-week physical residency in Lagos, Nigeria.
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