Ecobank launches the Fintech Challenge
The Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank (www.Ecobank.com) in 33 African countries; Applications open until 16 September.
Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge and is calling on African Fintech entrepreneurs to enter the competition.
Fintechs that align with the bank’s strategic goals have a chance to win a total cash prize of US$50,000 for the top winner and the opportunity to collaborate and scale their solutions across Ecobank’s 33 African markets.
Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centric Fintechs, are eligible to participate in the Fintech Challenge by visiting: Applications can be made until September 16, 2022.
Ten finalists will be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony which will take place in October 2022.
In addition, all fellows will qualify to explore the following opportunities with the bank and its partners:
• Multinational product rollout: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of Ecobank’s pan-African 33-country ecosystem.
• Service provider partnerships: Ecobank may select some Fintechs as pan-African service partners within the bank’s ecosystem.
• Access to Ecobank’s Pan-African Banking Sandbox: Fellows will gain access to Ecobank’s APIs to test and improve their products for the pan-African market.
• Priority access to Ecobank’s Venture Capital partners for financing exploration.
Ade Ayeyemi, CEO of Ecobank Group, said: “Ecobank believes that the only way to transform financial services in Africa is for pan-African banks like Ecobank to continuously support and partner with innovative Fintechs and start-ups. We invite and welcome Africa’s best Fintechs to to work with us through the 2022 challenge.”
Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group said: “The uniqueness of the challenge is that it welcomes both early stage and mature startup Fintechs and seeks to align them with different types of partnership opportunities within Ecobank that match their different levels of maturity.”
The Ecobank Fintech Challenge was developed in collaboration with the international advisory firm Konfidants and is supported by partners across Africa and globally. So far, 46 fellows have been accepted into the Ecobank Fintech Fellowship program since it was launched in 2017.
