Two Ugandan FinTech companies, Credify Africa Inc. and Kanzu Finance Ltd., have made it among the top 10 finalists in the prestigious MEST Africa Challenge 2025.
Others are mystocks.africa (Botswana), Logistify AI (Kenya), Kutana Technologies Ltd (Ghana), Investa Farm (Kenya), Black Swan (Mauritius), Mighty Finance Solution Inc. (Zambia), Devdraft AI (Zambia), Farmsky (Kenya)
This means they will compete for a $50,000 seed equity investment during the grand finale in Cape Town, South Africa, on November 26, 2025.
Absa, which partners with the Meltwater Entrepreneurial School of Technology Africa for the challenge, announced the finalists after two days of intensive judging Oct. 28 and 29.
Tamu Dutuma, Head of Strategy and Transformation for Technology at Absa Regional Operations (ARO), highlighted the strong alignment between the Challenge and Absa’s strategic vision: “Our ambition is to reimagine financial services through technology, and the innovations presented by these FinTechs showcase what’s possible. Many of the solutions are directly relevant to our business, with the potential to enhance customer experience, drive efficiency, and accelerate transformation. We’re excited about the opportunity to turn some of these ideas into meaningful partnerships that deliver value at scale.”
This year, the Challenge strengthened its presence across eight of Absa’s markets and sharpened its focus on FinTech and high-impact solutions designed to deepen financial inclusion and unlock customer-centric solutions and innovation.
Ashwin Ravichandran, Portfolio Advisor and MAC Lead at MEST Africa, reflected on this trajectory: “Each year, the Challenge grows not only in reach but in the depth of innovation it attracts. We’re seeing founders build financial systems that are inclusive, intelligent, and unmistakably African. The Top 10 exemplify the kind of purposeful innovation driving Africa’s next wave of growth.”
“What stands out in the Top 10 is how digital innovation is being applied to real market challenges,” says Tawanda Chatikobo, Head of Digital for Absa Regional Operations (ARO), Retail and Business Banking. “From AI-driven insights to seamless payments, these solutions demonstrate how technology can unlock access, efficiency, and financial inclusion. Digital solutions are no longer a luxury; they have become an imperative for the financial sector.”
The Top 10 finalists will advance to the grand finale on 26 November 2025 in Cape Town, South Africa, where one winning startup will receive a USD $50,000 seed equity investment to accelerate its growth and gain the opportunity to collaborate with Absa to drive innovation.
“At Absa, every story matters. Through this Challenge, we’re proud to witness the journeys of these founders and the impact they are creating. Each FinTech represents a unique vision for Africa’s future, and it is inspiring to celebrate their achievements and acknowledge the potential in every one of these stories,” Chatikobo added
