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Ecobank Opens Applications for its 2021 fintech challenge for African startups


Ecobank Group has opened applications for its 4th edition of the Ecobank Fintech Challenge. The challenge, the bank says is in line with its commitment to championing digitization by giving innovative African startups the opportunity to promote their fintech solutions. The startups can potentially partner with Ecobank to scale their solutions across Ecobank’s 33 African markets as well as its international operations in France.

All selected Finalists will be inducted into the Ecobank Fintech Fellowship following the Finals and Awards ceremony slated for November 2021. The selected top three winners will receive cash prizes worth $15,000, $12,000 and $10,000 respectively.

Ade Ayeyemi, Chief Executive Officer, Ecobank Group, reiterated Ecobank’s dedication to support innovation across the continent “The global impact of COVID-19 has accelerated the dire necessity to digitize and transform banking operations. As a banking group, we are convinced now more than ever that innovation and technology are the future of banking and therefore reaffirm our continuous commitment to identify and support Africa’s brightest developers to promote their solutions and help improve our services through the Ecobank Fintech Challenge.”

The Challenge resulted in Ecobank successfully launching the Ecobank Investor App, originally developed by Finance Mobile, a startup from the 2017 Ecobank Fintech Fellows cohort. Following the successful rollout of the app in 9 Ecobank markets and currently launching in additional countries, Ecobank is working on finalizing other such partnerships with Fellows from the 2020 Fintech Challenge.

“We are firm believers that Africa’s talent pool is enormous and requires specialized and targeted mentorships to fully crystallize and ready fintech startups for business engagements. Through the Ecobank Fintech Fellowship, we are creating a learning experience through mentorship sessions with in-house, high-level technical teams and with our global partners to help shape and reshape the strategy and focus of African Fintechs.” Tomisin Fashina, Operations and Technology Executive, Ecobank Group said.

The Ecobank Fintech Challenge was designed in partnership with the advisory firm Konfidants and is supported by several partners across Africa and globally including ACCION, Catalyst Fund, Nedbank VC and Cellulant. Applications will close on 20 September 2021.

Applications have opened for entries from all startups and developers in any of Africa’s 54 countries and global Africa-centered fintechs. More information on the competition, benefits, and how to apply is available here.

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Reginah Wamboi

Reginah is a seasoned Kenyan journalist with a keen interest in business and African startups. Send tips to info@techtrendske.co.ke or wamboi@techtrendske.co.ke

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