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Sh6.5M Prize Up For Grabs In Ecobank Fintech Challenge 2023

Ecobank Fintech fellows will benefit from business growth opportunities

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Ecobank Group, the Pan-African banking group, has invited innovative and ambitious African fintech entrepreneurs from across Africa to apply to participate in the 6th edition of its Ecobank Fintech Challenge with a prize tag of $50,000 (about Ksh6.5 million)

Similar to previous editions, the Fintech Challenge offers prospects for Fintechs that align with Ecobank’s strategic objectives, enabling them to partner and scale their innovative solutions across the bank’s extensive network of 35 African markets as well as its international operations in France.

Successful applicants reaching the Grand Final, will also have the opportunity to join the prestigious Ecobank Fintech Fellowship programme. 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 the grand cash prize of US$50,000.

Ecobank Fintech Fellows will also benefit from the following opportunities through their collaboration with Ecobank and its partners.

  • Multinational product rollout: an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African ecosystem

  • Service provider partnerships: Selected fintechs may be chosen as Pan-African service partners within the bank’s ecosystem

  • Access to Ecobank’s Pan-African Banking Sandbox: Fellows will receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and improve their products for the Pan-African market.

  • 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.

“Over the past six years,” says Mr Jeremy Awori, Chief Executive Officer, Ecobank Group, “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.”

Mr Awori said these collaborations have played a significant role in transforming Africa’s digital landscape and driving financial inclusion.

Mr Tomisin Fashina, Operations and Technology Executive, Ecobank Group, added that “the Ecobank Fintech Challenge has become Africa’s premier fintech competition, driving scalability for African fintechs.”

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Fashina further observed 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.

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Bill Yaura is a Correspondent for Business Today. He can be reached on email: [email protected]
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