Every year, the MEST Africa Challenge brings together some of the most ambitious startups from across the continent. Its goal is to strengthen the ecosystem by offering founders mentorship, funding and exposure to industry networks. In the latest edition, Black Swan, a Mauritius-registered fintech co-founded by Tanzanian entrepreneur Derick Kazimoto, was announced as the winner of the 2025 MEST Africa Challenge, a major milestone as the company advances its mission to close Africa’s 700-billion-dollar financing gap within the informal economy.
Empowering Startups With Real Support
Black Swan’s victory highlights the value of the MEST Africa Challenge as a platform that opens real pathways for growth. The competition attracted more than 800 applicants across the continent. After a series of selection rounds, 20 startups were shortlisted, 10 advanced to the finals and Black Swan claimed the top position. The win comes with a US 50,000 dollar equity investment, which will help the company scale its technology and strengthen its operations.
The recognition matters because Black Swan is addressing one of the most persistent issues in Africa’s financial landscape. The company works to close a 700 billion dollar financing gap that affects the informal economy in Sub-Saharan Africa. This vast sector is full of hardworking traders and micro-entrepreneurs who often cannot access credit because traditional systems do not capture their financial behaviour. Black Swan stands in this gap with alternative credit scoring, AI-driven tools and embedded finance models that connect financial service providers with informal workers.
The startup’s solutions are designed to make financial access easier. Through embedded financing, Black Swan partners with banks and fintechs to enable agent and merchant financing. Its open financing approach uses consumer data, with consent, to help individuals understand their financial history and make informed decisions. This combination aims to unlock credit, strengthen financial inclusion and support economic growth.
Speaking after the win, CEO Derick Kazimoto described how meaningful the experience was for the team. “Thank you, MEST Africa and Absa Group. This has been a wonderful journey. We’ve learned a lot, pressure-tested our thinking and gained invaluable insights from both the MEST team and the technical workshops with Absa. We genuinely appreciate the support and the ecosystem you’re building for founders across the continent. Now it’s time to get back to the real work of building, so we can scale together and shape the future of Africa’s fintech landscape.”
His words reflect what many founders look for but rarely find in early-stage support: mentorship, technical guidance and a strong network. The challenge, led by MEST Africa and powered by Absa Group, provides this mix. It gives selected startups access to strategy support, industry leaders and potential partners, all of which help them move from early ideas to scalable solutions.
Building a Stronger Innovation Ecosystem
The partnership with Absa Group adds even more strength to the initiative. Absa brings corporate experience, financial sector knowledge and a strong presence across the continent. This allows startups in the program to learn from experts who understand the complexities of scaling within the finance industry. Access to this kind of institutional expertise can be transformative for early-stage founders who often struggle to reach such networks.
For Black Swan, the timing and support are aligned with its mission. The company believes that expanding credit access in Africa requires both innovation and deep partnerships. Its AI-powered tools help financial institutions and fintechs understand underserved markets and create products that include more people. This supports communities, strengthens local businesses and increases economic resilience.
The MEST Africa Challenge also plays a broader role in shaping the startup ecosystem. It brings together founders, investors, ecosystem leaders and corporate partners in the same space. This setup makes it easier for startups to validate ideas, expand into new markets and find long-term collaborators. Many early-stage companies struggle due to a lack of visibility and limited support systems. The challenge directly tackles this by providing structured mentorship, resources and exposure.
The finalists in this year’s competition demonstrated the strength of African innovation. Their ideas reflected a mix of bold thinking and practical solutions. Black Swan recognised this spirit in its message to fellow participants, expressing appreciation for their courage and passion. For the team, sharing the journey with other founders made the experience richer and more motivating.
Emerging as the winner reinforces Black Swan’s belief that the future of fintech across Africa is full of opportunity. The company sees this moment as a launchpad to deepen its impact and reach more people across the continent. It hopes to continue building tools that make financial access easier and more inclusive.
