“What began as a prize became a powerful shift [in our business operations], from exclusion to ownership, from survival to leadership.” — Angela Odero, Co-founder and CEO of Rio Fish, first-place winner in the 2024 FINCA Ventures Prize Competition.
Last March, four innovative African startups were named first-place winners at the FINCA Ventures Prize Competition, recipients of catalytic funding and a clear mandate: to turn bold visions into real progress for communities overlooked by traditional markets. Today, their impact is rewriting what inclusive growth looks like — from life-saving tech in healthcare to women-run factories and thriving fisheries.
The FINCA Ventures Prize Competition, launched in 2024, is an annual event that identifies and supports founders whose products, technologies, or business models can deliver meaningful outcomes in underserved populations in Sub-Saharan Africa. Launched in 2024 by FINCA Ventures — FINCA’s impact investing arm — the Prize Competition provides funding, mentorship, and exposure to help Africa-based entrepreneurs overcome the chronic scarcity of early-stage capital.
As we prepare to welcome a new round of finalists to pitch their ventures at the 2025 Prize Competition, we are reminded that African founders are brimming with determination and ingenuity; what’s missing is patient capital and visibility. Despite a continent-wide surge in entrepreneurial energy, African startups capture roughly 1% of global venture funding, and women-led teams received less than 10% of total financing in 2024.
FINCA is ready and determined to rebalance that equation. With four decades of experience delivering financial services in challenging markets, we understand what it takes to build sustainable, community-driven solutions that fight poverty at scale. Through the FINCA Ventures Prize, we turn capital and credibility into a springboard for potential and growth.
With the judging for this year’s FINCA Ventures Prize Competition taking place on September 15, it’s the perfect moment to check in on last year’s winners and how the Prize has helped them expand impact where it’s needed most.
From Seed to Scale: A Year of Progress
Winning the FINCA Ventures Prize was just the beginning. From strengthening operations to creating jobs and saving lives, these entrepreneurs have translated early-stage capital into measurable outcomes. Here’s what the past year has made possible for them:
Improving Access to Life‑Saving Services
For many Kenyans living far from major hospitals, critical care can mean long, costly journeys — or going without. Bena Care set out to change that by delivering affordable, high-quality healthcare directly to patients’ doorsteps. Through a network of trained providers and a mobile platform, the company connects those in need with essential medical services that were once out of reach.
Catalytic funding from the FINCA Ventures Prize covered critical equipment needs, from ICU beds to ventilators and oxygen concentrators, enabling the company to serve more patients safely at home. It also supported the launch of mobile dialysis units, bringing care closer to rural communities and enhancing overall health results. For patients and caregivers alike, these improvements mean fewer missed treatments, faster recoveries, and renewed hope.
Empowering Women and Communities
Kenya-based Rio Fish is transforming the fish value chain by helping smallholder farmers boost productivity and access markets. Its model combines smart aquaculture tools, education, and inclusive practices to create sustainable livelihoods. But its most profound impact lies in empowering women to lead in an industry that rarely includes them.
With the catalytic funding from FINCA Ventures, Rio Fish trained and equipped 600 women with digital tools for sustainable fish farming, including water quality sensors that put decision-making in their hands. These women now manage their own aquaculture enterprises, hire local youth, and supply fish to Rio’s growing network. Women who once had no stake now drive growth that benefits whole communities.
Scaling for Greater Reach
In Tanzania, Kazi Yetu is proving that ethical trade can be a spark for systemic change. The company sources teas, herbs, and spices from smallholder farmers and processes them in an all-women-run plant, creating jobs, building skills, and ensuring producers capture more value from their crops. Its ambition: to take Tanzanian tea to global markets while ensuring growers and factory workers share in the value created.
The FINCA Ventures Prize helped make that leap possible, funding upgrades for export compliance and enabling larger purchases from farmer cooperatives, significantly raising household incomes. Soon after, Kazi Yetu shipped its first products to the U.S., marking a major milestone for a women-led African brand. Today, its teas on international shelves signal a future where African enterprises compete globally while driving inclusive prosperity at home.
Unlocking New Opportunities
In East Africa, Neopenda is advancing patient care in underserved settings with wearable technology that monitors vital signs in real time. Its flagship product, neoGuard, helps clinicians detect complications early without relying on stable electricity or internet, making timely interventions possible where resources are scarce.
The FINCA Ventures Prize gave Neopenda the momentum to grow faster and broaden its impact. The team hired new sales and customer service staff to increase its presence in clinics and provide more hands-on support to healthcare workers. A new investor — introduced through the competition — provided additional funding, giving the company more flexibility to scale. The visibility boost also sparked conversations with officials from three African embassies, creating new pathways for regional expansion.
What’s Next: 2025 FINCA Ventures Prize Competition
On September 15, six African entrepreneurs will compete in two categories: climate-smart agriculture and fintech for financial inclusion. Beyond the pitch, finalists will join mentorship and networking sessions to connect with investors and partners who can help scale their impact.
This year, the six finalists were selected from more than 300 applicants. Five of these ventures are led or co-led by women, underscoring FINCA’s longstanding commitment to advancing women entrepreneurs.
Meet the 2025 finalists:
- 10mg Health (Nigeria) – An AI-powered credit solution helping clinics and pharmacies close Africa’s $60 B healthcare financing gap.
- truQ (Nigeria) – A digital platform that enables small-scale transporters to access credit, automate operations, and grow income.
- Cladfy (Kenya) – A fintech company creating last-mile lending infrastructure for the informal sector through tech-driven credit solutions.
- Karpolax (Uganda) – A food innovation company addressing waste with natural sachets that extend the shelf life of fruits without cold storage.
- Silo Africa (Kenya) – An agtech venture offering digitally enabled grain silos and IoT tools to reduce post-harvest losses and boost farmer incomes.
- Farmer Lifeline (Kenya) – A precision agriculture startup delivering AI-powered devices that detect crop pests and diseases early to improve yields and resilience.
More than a competition, the FINCA Ventures Prize is a launchpad for African entrepreneurs, giving them the resources, knowledge, and networks they need to turn vision into lasting change. This year, we’re inviting global audiences to follow the event live to get a front-row view of what’s possible when great ideas are given the chance to take root and thrive.
