Ecobank Group launches 2024 Fintech Challenge with $50,000 prize
Pan-African financial services group, Ecobank, has invited applications for the 7th edition of its Fintech Challenge. The annual competition invites early-stage and mature fintech startups to partner with Ecobank. The prize is $50,000 and a chance to scale their solutions across Ecobank’s network spanning 35 African countries.
Fintech start-ups still face several challenges such as reaching scale, navigating an uncertain regulatory environment and scarcity of funding. The Ecobank Fintech Challenge provides a unique opportunity for fintech entrepreneurs to address these challenges. Not only does it offer financial rewards. It also provides Ecobank’s expertise in diversified markets operations. And the opportunity to scale across its pan-African footprint and international presence such as France.
“Building partnerships with fintechs is a catalyst for driving financial inclusion in Africa. At Ecobank, we prioritise fintechs in our Growth, Transformation, and Returns strategy “, said Jeremy Awori, Chief Executive Officer of Ecobank Group. “We have enhanced this new edition of the Ecobank Fintech Challenge to continue to provide fintech entrepreneurs with a premier platform to showcase groundbreaking solutions, while creating unparalleled opportunities for growth and expansion across 35 markets in Africa.”
Ecobank reports that last year’s competition attracted 1,490 entries of real quality. That underscores the significance of the pan-African challenge. Successful applicants reaching the Grand Finale and awards ceremony in October will have the chance to join the highly coveted Ecobank Fintech Fellowship programme. Since inception, 60 fintech startups have been inducted into the Ecobank Fintech Fellowship.
The Ecobank Fintech Challenge is designed in partnership with international advisory firm, Konfidants.
The deadline for entries is 7 July 2024.
