Ecobank, a leading pan-African financial services group, recently announced the winner of its flagship Ecobank Fintech Challenge 2024. Ivorian fintech, Daba Finance, was awarded the Grand Prize of $50,000 for its innovative investment platform. The competition featured 12 fintech startups from across Africa, all aiming for the top prize.
Daba Finance: The Grand Winner of Ecobank Fintech Challenge 2024
After intense competition, Daba Finance emerged as the grand winner. Their one-stop investment platform simplifies access to stocks, bonds, and other financial products, making investing easier for everyone. CEO of Daba Finance, Boum III Jr., expressed gratitude, noting how the win would accelerate their mission of financial empowerment for millions.
Other Fintechs Recognized at Ecobank Fintech Challenge 2024
In addition to Daba Finance, two other fintechs received recognition:
- Melanin Kapital from Kenya took second place, securing $10,000.
- YMO, a fintech from Guinea, earned third place with $5,000.
For the first time, the public also had a say in the competition. MiaPay from Togo won the “Public Choice Award” after receiving the highest number of votes.
Ecobank’s Commitment to African Fintech Innovation
The Ecobank Fintech Challenge 2024 demonstrated Ecobank’s commitment to fostering innovation across Africa. The competition drew 1,550 entrants from 70 countries, underscoring its rising prominence. All 12 finalists have been enrolled in the Ecobank Fintech Fellowship programme, giving them access to Ecobank’s Banking Sandbox and exposure to investors and industry leaders.
Jeremy Awori, Ecobank Group CEO, praised the finalists, saying, “The quality of pitches was outstanding. I’m particularly excited to see how our collaboration with Daba Finance will help them scale and grow.”
Bridging Financial Inclusion Through Ecobank’s Fintech Strategy
Ecobank’s fintech strategy focuses on leveraging its borderless pan-African platform to create solutions that can impact millions of Africans. The Ecobank Fintech Challenge plays a vital role in identifying partnerships that can bridge the financial inclusion gap and streamline access to digital payments across Africa.
The Ecobank Fintech Challenge 2024 highlighted the incredible innovation happening across the continent. With Daba Finance leading the charge, this competition is helping to show Africa’s potential in fintech.