Ecobank Group, the Pan-African banking group, has announced the launch of its 6th edition of the Ecobank Fintech Challenge.
The challenge aims to identify and support innovative fintech entrepreneurs from across Africa.
With a prize tag of $50,000 (approximately Ksh6.5 million), this competition offers prospects for fintechs that align with Ecobank’s strategic objectives.
Similar to previous editions, successful applicants will have the opportunity to partner and scale their innovative solutions across Ecobank’s extensive network of 35 African markets as well as its international operations in France.
In addition, those reaching the Grand Final will also have the chance to join the prestigious Ecobank Fintech Fellowship program.
The highly anticipated Grand Finale and Awards ceremony are scheduled for late September.
For the second year in a row, the overall winner will be awarded a grand cash prize of US$50,000.
But that’s not all – Ecobank Fintech Fellows will also benefit from other opportunities through their collaboration with Ecobank and its partners.
These opportunities include multinational product rollout, where fellows can integrate their solutions with Ecobank and potentially launch products within its expansive Pan-African ecosystem.
Selected fintechs may also be chosen as Pan-African service partners within the bank’s ecosystem.
Additionally, fellows will receive exclusive access to Ecobank’s cutting-edge APIs through its Pan-African Banking Sandbox, enabling them to test and improve their products for the Pan-African market.
Lastly, they will have priority access to Ecobank’s Venture Capital partners for funding exploration.
Applications are open to fintechs and developers from all African countries as well as global Africa-centered fintechs.
Interested parties can submit their applications through the official website.
Mr Jeremy Awori, Chief Executive Officer of Ecobank Group, expressed his excitement about this year’s challenge: “Over the past six years, the Fintech Challenge has welcomed a significant number of fintechs, with six participants successfully partnering with Ecobank to launch innovative products that have been rolled out across our markets.” He emphasized that these collaborations have played a significant role in transforming Africa’s digital landscape and driving financial inclusion.
Mr Tomisin Fashina, Operations and Technology Executive at Ecobank Group, highlighted the impact of the Ecobank Fintech Challenge: “The Ecobank Fintech Challenge has become Africa’s premier fintech competition, driving scalability for African fintechs.” He further noted that through this challenge, they have been able to identify talents who can support Ecobank’s mission to remain bold and innovative, driving pan-African prosperity for the continent.
The Ecobank Fintech Challenge was designed in partnership with international advisory firm Konfidants and is supported by various partners.
