Tanzanian tech firm gets slot in global startup event

Dar es Salaam. Tanzanian fintech has won a slot to represent the country in the Europe’s biggest startup and tech event scheduled for next month.

VivaTech is set to be held from June 15 - 18, 2022 in Paris, France whereby the locally owned tech firm Laina Finance is among 90 African firms that will attend.

The 2022 exhibition is the sixth biggest technology and innovation event to be held where 149 countries participate.

Laina’S Finance, Business Development director Tonny Missokia said it’s a win for them and the country to be among participants from Africa in that biggest exhibition.

He said in participating in the exhibition they create opportunities for foreign investors to invest in Tanzania in the technology industry.

“Organisers were looking for firms that provide tech loans services where borrowers can pay through installments. We are among 90 participants from Africa in the event,” he said.

Mr Missokia noted that among other things that motivated organisers to pick them is the fact that it’s the only participant who plan to start providing loans that align with Muslims’ religious beliefs.

We do not provide cash loans but with us you can get services from our business partners like Samsung, Hisense and Vodacom where you can acquire a phone or a TV but or any service and you pay for 10 percent and the rest we take care,” he said adding that their loans are paid through installments.

Furthermore, Msokkia noted they are seeking a way to put their technology in purchasing of anything including crop purchases and agricultural inputs.

Also, VivaTech, with support from the International Finance Corporation (IFC), provides AfricaTech Awards, a pan-African initiative developed to recognize and support impactful start-ups across three key sectors - Climate Tech, Health Tech and FinTech that are awarded to the participant at the end of exhibitions.

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