Ecobank Fintech Challenge 2024 for African Startups (Up to $50,000)

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The 2024 Ecobank Fintech Challenge has opened applications for early-stage and mature startups to partner with Ecobank (www.Ecobank.com) across its 35 African markets; This marks the 7th edition of the Fintech Challenge.

Ecobank, the pan-African financial services Group, officially opens call for applications to the 7th edition of its Fintech Challenge.

This annual competition invites early-stage and mature fintech startups to partner with Ecobank, offering a grand prize of US$50,000 and a chance to scale their solutions across Ecobank’s extensive network spanning 35 African countries.Despite the fintech eruption in the African continent, a McKinsey report [1] reveals that fintech start-ups in Africa are still facing challenges such as reaching scale, navigating an uncertain regulatory environment, and managing scarcity of funding.

The Ecobank Fintech Challenge provides a unique opportunity for Fintech Entrepreneurs to address these challenges by not only offering financial rewards but also providing Ecobank’s expertise in diversified markets operations and the right solutions to scale across its pan-African footprint and international presence such as France.

Last year’s competition attracted 1,490 entries of real quality, which underscores the significance of this pan-African challenge. Successful applicants reaching the Grand Finale and Awards Ceremony in October 2024 will have the chance to join the highly coveted Ecobank Fintech Fellowship programme, with the overall winner receiving a cash prize of US$50,000.

Ecobank Fintech Challenge Benefits

Multinational product rollout: Commercial partnership and integration opportunities to access and launch products across Ecobank’s 33 African markets
Service provider partnerships: Business acceleration and capacity building support along with the opportunity to be a country-level partner in Ecobank’s ecosystem.
Access to our pan-African banking Sandbox: Support of a dedicated team to carry out Ecobank’s API tests and enable better integration of Fintech products in the pan-African market
Well-established partner network: Easy access and relationship building with global and African accelerators, potential investors and mentors because of Ecobank Fintech Fellowship.
Competition cash prizes: $50,000 no-strings attached cash prize support to the winning company along with more cash prizes to the top three winners
Integration with our existing digital offerings: Launchpad to leverage our existing products such as Omni, Electronic Financial Supply Chain (eFSC), Xpress, Mobile App, MasterPass™ QR, mVISA™ & mCash, etc.