Mbarara varsity students win 2023 Women in FinTech hackathon

A team of three engineering students from Mbarara University of Science and Technology (MUST) has won the 2023 Women in FinTech hackathon.

Named E-Parking, the winning team is made of three engineering students namely; Christine Amutuhaire, Charity Ainembabazi; both doing biomedical engineering and Elian Mwesiga who is pursuing software engineering. The winners of the hackathon which ran from August 10 to 17, were announced at the 2023 Women in FinTech Summit presided over by Joyce Nabbosa Ssebugwawo, the minister of state for ICT at Mestil hotel, Kampala last Friday.

Their winning product, e-parking is a financial technology-powered solution that will on launch ‘introduce a mobile app to revolutionize the parking experience in Ugandan cities’. To win, the innovators presented a functional minimum viable product (MVP) that clearly demonstrated how their digital platform would simplify parking processes and enhance resource management.

It has features such as QR code-initiated parking, real-time payments enabled by Mojaloop software, app tokens for payments and session alerts. They beat off stiff competition from more than 20 other teams, including BorePay and Business Banking Hub; that came second and third respectively.

“We are super excited. We definitely believed in our product but didn’t see this win coming. The hackathon has been mind-blowing. This win has vindicated our solution. We intend to continue pursuing it and eventually launch it. We thank all the participants for the health and positive competition. In a special way, we thank HiPipo and its partners for organizing a proper women in fintech event,” said an overjoyed Christine Amutuhaire, E-Parking team leader.

BorePay, the team that came second, is developing a USSD-based payment platform that will guarantee safe water for rural communities through continuous collection of boreholes’ repair and maintenance fees from the residents in addition to other forms of fundraising while Business Banking Hub offers an inclusive bulk payment solution for the unbanked informal sector.

Ssebugwawo applauded HiPipo for using technology to champion women empowerment, noting that the government will continue to support initiatives intended to empower women and the youth.

“Even as Uganda boasts a female population of 50.71 per cent in 2020, women are extremely represented among the unbanked. They face many challenges, notably in accessing digital technology, acquiring skills, and availing financial products,” Ssebugwawo said.

She explained: “HiPipo’s women in fintech training steps in to bridge this gap. We are proud of HiPipo and its partners for their commitment to leveling the field. Their dedication pushes Africa closer to tapping into its full digital dividend, ensuring all benefit from digital financial services. The collaboration between HiPipo and the ministry of ICT is pivotal. It is not just about offering services; it is about understanding the deep-rooted social norms that obstruct women’s financial rise. This insight, complemented by research from the Level One Project, offers a deeper perspective on these challenges.”

PRIZES

The top seven teams collectively shared $10,000 prize money with E-Parking taking Shs 4 million, BorePay – Shs 2 million, Business Banking Hub – Shs 1.5 million, FinHub – Shs 1 million, HPaysa – Shs 1 million, Tax on Point – Shs 1 million and Simbula Tugende – Shs 1 million.

“We received over 100 submissions from which we shortlisted 30 teams from Kampala, Mbarara, Kabale, Kisoro, Gulu and Nairobi. On day one of the hackathon, two teams did not turn up. We then remained with 28 teams that actively participated until the final presentations day when one team dropped out owing to an emergency that required their attention and physical presence,” Charlotte Neeza, the HiPipo fintech event manager, said.

Running for the fourth consecutive year, this hackathon is part of HiPipo’s broader Women in Fintech initiative that also includes a summit and incubator program.

“The cardinal purpose of these intertwined initiatives is to champion women’s financial inclusion through active participation in the initiation, development, and rolling out of financial technology products that are well-tailored to serve women and everyone,” Innocent Kawooya, HiPipo CEO, said.

“We are exceptionally supporting efforts towards closing the gender gap in access to technology, skills, and usage of digital financial services. Several of our women in fintech alumni are currently running sustainable tech companies. We implore the 2023 winners and all participants to continue with their innovations, complete them and launch them.”