Born in the wake of the COVID-19 pandemic, MpaMpe Digital Solutions LTD is a crowdfunding company that aims to bridge the gap between donors and individuals or organizations in need of financial assistance.
In 2021, the team received its first financing through the Women in Fintech Hackathon hosted by HiPipo. The initiative sought to close the gender gap in access to technology, skills, and usage of digital financial services.
“At that time, MpaMpe was just an idea with a minimum viable product (MVP). Despite the early stage of our startup, we were able to make it to the top 5 in the hackathon and secure some funds, which we wisely invested in product development,” Luzinda said.
A year later, MTN MoMo Uganda in partnership with Outbox Uganda Limited put out a call for developers in Uganda to participate in a hackathon to create an app that could process financial transactions, with added capabilities that go beyond processing payments. MpaMpe quickly jumped at this opportunity.
Out of the 69 ideas submitted, 12 ideas were shortlisted to participate in the hackathon. The top 12 teams were supported by the Outbox team to build their prototypes and submit them onto the hackerearth platform.
A total of 8 teams pitched their ideas before 5 seasoned software developers of which 3 were selected to receive prizes including e-wage which won $ 5,000, MpaMpe which won $ 3,000, and M-pay which won $2,000.
“My team and I participated in the MTN MoMo Hackathon hosted by Outbox. This experience was pivotal for us, as we emerged as 1st runners-up and won funds that significantly accelerated our growth journey. These investments helped us to transform MpaMpe from a concept into an operational company, ready to address the financial needs of our community. Throughout this journey, the support and resources provided by organizations like Outbox have been invaluable in propelling our startup forward and realizing our vision,” Luzinda narrated.
Having won this first prize, the team could formalize their operations, including registering officially, obtaining the necessary banking services, acquiring merchant codes for payments, and establishing a solid foundation for their business.
According to Luzinda, digital entrepreneurship is an avenue for women’s inclusion in the global economy and by embracing it, women can unlock opportunities and redefine traditional notions of success.
“As we navigate the complexities of the digital age, let us remain steadfast in our commitment to empowering women, providing them with the tools, resources, and support needed to thrive as entrepreneurs and leaders. Together, let us build a future where gender equality is not just a goal but a reality, where women’s voices are amplified, and where their contributions are celebrated and valued. In this journey towards a more inclusive and equitable world, digital entrepreneurship serves as a catalyst for change, paving the way for a brighter and more prosperous future for all,” Luzinda concluded.
Conclusively, while Ugandan women entrepreneurs struggle to raise financing, they can leverage financing opportunities like bootstrapping, borrowing from friends and family, equity financing, debt financing, bank loans, and foundations.
