The Ecobank Fintech Challenge, provided by Ecobank, is a pan-African competition and business partnership aimed at fostering innovation. Its purpose is to inspire, support, and collaborate with African Fintech companies to expand the reach of their innovative banking and Fintech products.
Through the Ecobank Fintech Challenge, promising Fintech companies that are prepared to scale up are identified and partnered with. They receive support and gain access to opportunities in Ecobank’s 35 African markets. The ultimate goal is to contribute to their growth and success as potential Pan African Fintech enterprises.
Summary:
- Host: Ecobank Fintech
- Category: Competitions | Fellowships
- Eligible Countries: All African Countries
- Reward: $15,000 Cash Prize
- Application Deadline: July 21, 2023
To be considered for the Ecobank Fintech Challenge, Fintech companies must meet the following requirements:
- Eligible Fintechs must have a product focused on Africa or relevant to the African market.
- The product should address one or more specific pain points, such as customer experience, financial inclusion, credit scoring, ecosystem aggregation, internal tools, payments, or other relevant categories.
Selected Fintech companies that become finalists will have the opportunity to become Ecobank Fintech Fellows. They can explore various benefits, including integration with Ecobank and potentially launching products in Ecobank’s markets across Africa. The top three winners will receive cash prizes of $15,000, $12,000, and $10,000 respectively. Start-ups may also be chosen as country-level partners within Ecobank’s country ecosystem. Fellows will have access to a dedicated team for API testing, enabling product improvements for the pan-African market. Founders will be inducted as Ecobank Fintech Fellows, providing access to a global and African network of accelerators, potential investors, and mentors. The Challenge also offers opportunities for Fintechs to integrate with Ecobank’s existing digital offerings, including Ecobank Omni, Ecobank electronic financial supply chain (eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash, and more.
For scholarship applications and further details, interested and qualified applicants can use the provided application link.
