The Ecobank Group has opened applications for the seventh edition of its Fintech Challenge,
The Ecobank Fintech Challenge is a Pan-African innovation competition powered by Ecobank Transnational Incorporated.
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
The Ecobank Fintech Challenge has two objectives:
- To iIdentify and support Fintechs that are ready to scale up with resources, funding, partnerships, etc in Ecobank’s 33 African markets.
- To Leverage these pan-African Fintech success stories and the solutions they offer to improve Africa’s financial integration and economic development.
Eligibility
The Ecobank Fintech Challenge is open to all startups with innovative solutions addressing the needs of the African population and its diaspora.
All Fintechs with relevant financial products for Africa are eligible to apply.
Benefits
The fundamental value offerings of the challenge are market access, visibility and cash prizes.
Competition Cash prizes: The ultimate winner will be awarded a cash prize of $50,000.
Scale Across Borders: chosen startups get the opportunity to pursue integration with Ecobank and potentially launch your product in Ecobank’s 35 markets across Africa.
Ecobank Affiliates Partnerships: Finalists with impressive products may be selected as country-level partners to local Ecobank affiliates within Ecobank’s 35-country footprint.
Mentoring and networking support: All Finalists will be inducted as Ecobank Fintech Fellows.
This grants them access to and relationships with a vast network made up of;
- global and African accelerators,
- potential Investors,
- mentors, and
- the Ecobank non-bank clients’ ecosystem for potential partnerships.
Access to Ecobank’s Pan-African Banking Sandbox: Fellows will have access to a dedicated team to support on Ecobank’s API tests. This is to enable them to improve their products for the pan-African market and globally.
Integration With Existing Ecobank Digital Offerings: The Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings.
Timeline:
Applications are open now, and will close on July 7th.
Finalists will be announced in August and next is the innovation fair and grand finale coming up in September.
