Applications are now open for the 2024 Ecobank Fintech Challenge. The Ecobank Fintech Challenge is open to all startups with innovative solutions addressing the needs of the African population and its diaspora. It has been created with two objectives in mind:
Identify and support Fintechs that are ready to scale up with resources, funding, partnerships, etc. in Ecobank’s 33 African markets.
Leverage these pan-African Fintech success stories and the solutions they offer to improve Africa’s financial integration and economic development.
The Ecobank Fintech Challenge is a Pan-African innovation competition powered by Ecobank Transnational Incorporated. It is designed to identify, support and partner impressive African Fintechs to grow and scale their Fintech innovations across the African continent and globally. The fundamental value offerings of the challenge are market access, visibility and cash prizes.
Requirements
All Fintechs with relevant financial products for Africa are eligible to apply to the Ecobank Fintech Challenge.
Benefits
The Challenge is the ideal launchpad for African Fintech innovators and startups to scale up to the next grand level with full support from Ecobank. It brings together a diverse pool of Africa-focused innovations to solve Africa’s financial inclusion pain points.
Competition Cash prizesThe ultimate winner will be awarded a cash prize of $50,000.
Scale Across BordersOpportunity to pursue integration with Ecobank and potentially launch your product in Ecobank’s 35 markets across Africa.
Ecobank Affiliates PartnershipsFinalists with impressive products may be selected as country-level partners to local Ecobank affiliates within Ecobank’s 35-country footprint.
Access to Ecobank’s Pan-African Banking SandboxFellows will be given access to a dedicated team to support on Ecobank’s API tests to enable them to improve their products for the pan-African market and globally.
Mentoring and networking supportAll Finalists will be inducted as Ecobank Fintech Fellows, granting them access and relationships to a vast network of global and African accelerators, potential Investors, mentors, and the Ecobank non-bank clients’ ecosystem for potential partnerships.
Integration With Existing Ecobank Digital OfferingsThe Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings.
Timeline:
01 June 2024: Application launch
02 Early July 2024: Application Window Closes
03 Early August 2024: Finalists announcement
04 Mid Sep 2024: Innovation Fair & Grand finale
05 Oct. – Dec. 2024: Ecobank Fintech Fellowship
06 Dec. 2024 – May 2025: Commercial partnership
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