Ecobank, the pan-African banking giant, has unveiled the top finalists for the 2024 Ecobank Fintech Challenge during its first-ever Hybrid Semi-Final event held at the Ecobank Pan African Centre in Lagos, Nigeria. This groundbreaking event marks a significant milestone for the challenge, which has been a cornerstone of fintech innovation across the continent.
The finalists, chosen from a highly competitive pool of 40 fintech startups, emerged from an initial group of over 1,550 applicants spanning 70 countries in Africa and beyond. These top contenders will now advance to the Ecobank Fintech Challenge Grand Finale, set to take place on September 27, 2024, at the Ecobank Pan African Centre in Lomé, Togo. The Grand Finale will be streamed live on Ecobank Group’s social media channels, allowing a global audience to witness the competition.
At the Finale, the finalists will compete for the coveted $50,000 cash prize. In addition to the financial reward, the winning fintechs will have the opportunity to collaborate with Ecobank to develop innovative solutions that can be scaled across the bank’s extensive pan-African network, which spans 35 countries.
Jeremy Awori, Chief Executive Officer of Ecobank Group, praised the finalists for their innovation and impact, stating that the finalists in this year’s Ecobank Fintech Challenge have showcased exceptional talent and innovation. He added that Ecobank is committed to collaborating with these business builders to develop products and services that will benefit their customers and contribute to the continent’s progress.
The 2024 Ecobank Fintech Challenge finalists represent the future of African fintech, with innovative solutions coming from various regions of the continent. The list includes BuuPass from Kenya, Daba Finance from Ivory Coast, EasyEquities from South Africa, Exuus from Rwanda, Melanin Kapital Neobank from Kenya, MiaPay from Togo, PaySika from Cameroon, PROBOUTIK from Senegal, Sawport Video Banking as a Virtual Branch from Nigeria, Sproutly from Nigeria, Vaultpay from the Democratic Republic of the Congo, and YMO Africa from Guinea.
The Ecobank Fintech Challenge has been organized annually for seven years, serving as a premier platform for promoting innovation and collaboration between fintech startups and Ecobank’s cross-border markets. The challenge continues to attract key players within the fintech ecosystem, providing entrepreneurs with opportunities to address challenges such as scaling operations, navigating regulatory environments, and securing funding.
In partnership with international advisory firm Konfidants, and supported by notable partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, and others, the Ecobank Fintech Challenge has inducted 60 fintech startups into the Ecobank Fintech Fellowship since its inception.
The upcoming Grand Finale will bring together fintech innovators, regulators, investors, and industry experts, underscoring the growing significance of fintech in Africa’s financial landscape. Ecobank invites all stakeholders and the public to register for the event via the provided link and tune in to the live stream on YouTube and Facebook.