A few months ago, we reported how a team of University of Nairobi graduates is turning mobile money on its head by creating a platform that provides services to mobile money users across all networks. Chura is solving mobile money interoperability bottlenecks by offering services such airtime purchase, mobile data and mobile money transfer irrespective of the operator. Chura, which is Swahili for a frog, denotes a ‘leap’ between mobile carriers, also allows users to exchange their airtime for cash.
The five University of Nairobi graduates that form Chura have now been shortlisted as finalists in the 25,000£ (Sh3M) Royal Academy of Engineering Innovation grand Prize. Chura will compete with three other startups based in South Africa, Zambia and Tanzania who will walk away with at least £10,000.
The four finalists have received a six-month business training and mentoring from the Academy
“We’ve learnt a lot about marketing, and to sell our services better. We’ve achieved good growth despite limited capital and benefitted a lot from the media attention around the Africa Prize,” said Samuel Wangui, who spoke to techmoran.
The overall Africa Prize for Engineering Innovation winner will be chosen after the finalists present their engineering innovations and business plans to the judges at the Cape Town ceremony on June 1.