Malawi FinTech Challenge 2024: Empowering Young Innovators

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Applications are currently being accepted for the UNCDF Malawi Fintech Challenge. This initiative, spearheaded by the United Nations Capital Development Fund (UNCDF) in partnership with the Reserve Bank of Malawi (RBM), and backed by the European Union (EU) and the Organization of African, Caribbean, and Pacific States (OACPS), seeks to advance financial inclusion in Malawi.

The Malawi Fintech Challenge transcends mere competition; it serves as a platform for collaborative efforts across sectors, inviting various stakeholders from the financial landscape to join forces in fostering economic prosperity, enhancing livelihoods, promoting innovation, and ensuring inclusivity.


The Request for Application (RFA) is geared towards Fintechs, technology firms, payment service providers, and financial technology service providers, both local and international, possessing market-ready solutions aimed at addressing the identified problem statements of predetermined implementing partners in Malawi.

Solutions to be Supported:

  1. Loan Management Solution: This solution facilitates uncollateralized loans and provides a platform for Micro, Small, and Medium Enterprises (MSMEs) and smallholder farmers to gradually establish their credit history.
  2. Innovative Digital Solution: Utilizing critical data points from the Financial Access Design Consultancy (FADC), this solution aims to optimize service delivery and enhance access to financial services.
  3. Digital Scorecard and Scoring Engine Platform: This platform utilizes existing data from Village Savings and Loan Associations (VSLAs) to support TNM in broadening their financial services offerings, particularly access to credit.


Successful applicants will receive:

  • Access to grant funding to pilot and implement solutions
  • Technical assistance for solution development and testing
  • mentoring and assistance with incubation from professionals in the field
  • Market linkages with partners and other key stakeholders


  • Launch of Fintech Challenge: February 2024

Information Sessions: Register Now!

March 14, 2024

Deadline for Queries: March 17, 2024

Deadline for Submission: March 18, 2024

Evaluation: April 2024

Bootcamp: May 2024

Selection of FinTechs: May 2024

Project Design and Contract Negotiation: June 2024

Project Implementation: August 2024

For further details,

Application Deadline: March 18, 2024

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