Barclays Africa, the African subsidiary of Barclays Plc, a major global financial services provider has announced the official opening of innovation hub, Rise Cape Town.
Rise Cape Town, located in Bandwidth Barn, a leading ICT business incubator in Cape Town, will provide Africa’s innovators and startups a physical space for collaboration and FinTech innovation.
The hub will house co-working facilities, an event space with world-class standard and a purpose-built setting for initiatives such as the Barclays Accelerator programme.
“This announcement marks further expansion of our global programme, deepening Africa’s connection to our wider wider Rise global network,” says Derek White, Chief Design and Innovation Officer at Barclays Plc.
He added, “By connecting these hotbeds of innovation to each other, we hope to accelerate the development of FinTech – both on the continent and globally.”
Rise Cape Town is the fourth of such innovation hub launched by Barclays Africa through its Rise initiative – the others are Rise New York, Rise London and Rise Manchester.
Through the launch of Rise Cape Town, Barclays Africa aims to pioneer the future of financial services through technology in Africa.
Already, it has organized the Supply Chain Challenge which was won by Markit Opportunity, a Kenyan e-commerce platform with a social mission to connect buyers and sellers.
Also, it is currently accepting applications for The Barclays Accelerator, which is designed to accelerate fintech-focused startups in Africa.
As with the other Rise Innovation hubs, Rise Cape Town will enable Africans to connect, co-create and scale the next big thing in the financial services sector.
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