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By ; Mohamed Elkholy

The Information Technology Industry Development Agency (ITIDA) announced CreditGO - the solution to mobile POS devices, as the second place winner at the “African App Launchpad Cup 2020” competition, awarded with 8,000 USD. The competition which is considered the first of its kind in Africa, gives early stage entrepreneurs and startups from all over Africa the opportunity and space to showcase their innovative ideas and present their business projects.

CreditGO pitched their business model - a mobile application, free to all android users which promises to be an alternative for POS devices, providing a faster channel than any of the traditional electronic payment service devices out there.

The announcement took place within the framework of the activities held by “The African launchpad for creating games and digital applications”; a presidential initiative aimed to develop the capabilities of 10,000 Egyptian and African youth, qualifying them to develop digital games and applications using the latest technologies. The initiative targets to support the creation of 100 startups in Africa in App and game development in cooperation with the Ministry of Foreign Affairs and a number of international companies, ministries and institutions in various African countries.

Commenting on their winning, Sherine Ewase, Deputy CEO of CreditGO said: “it’s a great honor for us at CreditGO to win second place among these outstanding multinational African startups and compete with their creative ideas, being able to present and convince the jury with the vision of CreditGO” “We aim to play an essential role in society and build a strong foundation for financial inclusion across Egypt, to have a positive impact on the community and the economic development of the country.

We have achieved 3 million pounds in change, resulting from 75,000 transactions carried out by 2500 CreditGO users, and this is a validation for our hard work, dedication and commitment to our vision” confirms Ewase.

CreditGO are working towards their growth and expansion phase where they look forward to reaching a wide and diverse segment of Egyptians who will benefit from the services, while educating them about the importance of digital transformation.

More than 180 startups from various African countries including Egypt applied to the competition, who were shortlisted to 50, and then to 24, to announce the final 7 winners for the first, second, third, and fourth places, four of which are in the applications category and three in the games category, and Egypt had four winning contestants in this list.

The “African Launchpad for creating games and digital applications” initiative has graduated 1,911 graduates this year, making the total number of graduates 3,064 since its launch in 2019. About CreditGo CreditGO is an Egyptian joint stock company specializing in electronic payment and collection services and owns the CreditGO free of charge mobile application, which is considered an alternative to traditional electronic payment devices.

CreditGO is a convenient, simple-to-go solution that adopts financial inclusion by empowering independent workers and the unbanked community to improve and increase their financial position.