SliceBiz plans to develop a service that will deliver 30-second pitches recorded by entrepreneurs to potential backers over the phone.
It says investors will then be able to transfer cash into the projects they like via their mobiles.
The Apps4Africa scheme is funded by the US State Department and the World Bank,
It gives awards of $10,000 (£6,500) to three selected projects with the possibility of top-up funds if the winners meet set targets."
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