Congratulations to the Winner of the Milken-Motsepe Prize in FinTech!
The Milken-Motsepe Prize in AI and Manufacturing is now open for registration!
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AfroAsian News: Milken Institute and Motsepe Foundation Announce Winner of the Milken-Motsepe Prize in Fintech and Launch New Prize

Prize program awards Verto the $1 million Grand Prize to advance FinTech innovations; the program also launches a new $2 million prize in manufacturing

JOHANNESBURG, South Africa, May 8, 2025/APO Group/ –The Milken Institute (https://apo-opa.co/452va1L) and the Motsepe Foundation are proud to announce the winner of the Milken-Motsepe Prize in FinTech, a $2 million innovation award designed to reward companies working to expand access to capital and financial services for small businesses in emerging and frontier markets. The winner was announced at the Milken Institute Global Conference in Los Angeles.Verto (https://apo-opa.co/4d7WePf), based in the United Kingdom, won the $1 million Grand Prize for its business-to-business cross-border payments platform, which enables businesses in emerging markets to send and receive payments, eliminating intermediary fees, supporting 49 currencies, and settling transactions quickly.

FinTech is the third prize awarded as part of the Milken–Motsepe Innovation Prize Program, a series of competitive multimillion-dollar global competitions and awards designed to incentivize and reward bold, innovative solutions to address pressing economic and environmental challenges in Africa.

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Launch Base Africa: Billionaire-Funded Program Offers $2m Equity-Free to African AI & Manufacturing Startups

A new $2m equity-free prize programme, backed by South African billionaire Dr. Patrice Motsepe and the Milken Institute, is putting AI and manufacturing at the centre of Africa’s tech ambitions. Announced at the 2025 Milken Institute Global Conference in Los Angeles, the Milken-Motsepe Prize in AI and Manufacturing is the fourth and most ambitious iteration of a growing innovation challenge series focused on solving Africa’s structural challenges through technology. This time, the focus is squarely on artificial intelligence and smart manufacturing — areas that have so far seen only limited African participation despite their global momentum. Read the full article here.

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Engineering News: Milken-Motsepe launches $2m Africa AI, manufacturing challenge

Development think tank the Milken Institute and philanthropy organisation the Motsepe Foundation have announced the Milken-Motsepe Prize in AI and Manufacturing. The challenge calls on entrepreneurs worldwide to deploy AI, data analytics and smart-factory technologies that can localise production, reinforce supply chain resilience and create high-quality jobs across Africa.   The challenge will award $2-million in total, including a $1-million grand prize, and seeks breakthrough solutions that, in combination, can harness advanced technologies to optimise production, reduce waste and localise value chains. It is also looking for solutions that encourage models that promote equitable access to essential goods, such as healthcare, food processing, affordable construction materials, as well as solutions that unlock job creation and export potential across African economies. Read the full article here.

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