The World Economic Forum (WEF) has named three African startups – Kenyan fintech companies BitPesa and CarePay, as well as Moroccan e-commerce startup WaystoCap, in its 2018 cohort of “Technology Pioneers”.

The annual cohort of WEF Technology Pioneers were chosen to join an existing community of companies by a selection committee of more than 60 academics, entrepreneurs, venture capitalists and corporate executives.

Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.

This year’s cohort includes three African companies. Two of them are Kenyan fintech startups, remittances platform BitPesa and healthcare savings and payments startup CarePay, while Moroccan e-commerce WaystoCap also makes the cut. US-based fintech company Ovamba also features.

As part of the cohort, the startups will have the opportunity to participate in WEF initiatives, such as the Annual Meeting of the New Champions in China and next year’s Annual Meeting in Davos.

“The Fourth Industrial Revolution, a concept born from the World Economic Forum, is unfolding before our eyes,” said Niama El Bassunie, WaystoCap’s co-founder and chief executive officer (CEO).

“At WaystoCap we are creating a trust network that allows African businesses to trade internationally. We are building an online marketplace using technology based around trust, verification, and security so African SMBs can buy and sell globally; revolutionising the way they do business, and opening up opportunities that have not existed previously.”

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