Ecobank unveils finalists for $50,000 Fintech competition

cover, Financial Markets

Ecobank has announced 12 fintechs as finalists that will compete in the grand finale of its annual Ecobank Fintech Challenge and the ultimate prize of $50,000.

The finalists are BuuPass, Kenya; Daba Finance, Ivory Coast; EasyEquities, South Africa; Exuus, Rwanda; Melanin Kapital Neobank Kenya; MiaPay, Togo; PaySika, Cameroon, PROBOUTIK, Senegal; Sawport Video Banking as a Virtual Branch, Nigeria; Sproutly, Nigeria; Vaultpay, Democratic Republic of the Congo; and YMO Africa, Guinea.

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The finalists were selected from a cohort of 40 fintechs that made it to the semi-final stage of the competition held in Lagos last week.

This year’s challenge attracted over 1,550 applications from 70 countries in Africa and other global regions.

Speaking at the semi final, Jeremy Awori, Chief Executive Officer of Ecobank Group, said: “The finalists in this year’s Ecobank Fintech Challenge have showcased exceptional talent and innovation; and we look forward to welcoming them to the Finale. At Ecobank, we’re committed to collaborating with these business builders to develop products and services that will benefit our customers and contribute to our continent’s progress”.

tive Director and Chief Risk Officer of Ecobank, highlighted the importance of the challenge in driving innovation in the financial sector.

He said: “The Ecobank Fintech Challenge is more than just a competition; it is a catalyst for innovation and a platform for collaboration. The Challenge over the years has identified, nurtured, and supported groundbreaking fintech solutions that have the potential to revolutionize banking and financial services across Africa and beyond. Nigeria’s enterprising and innovative youth in the Fintech sector have benefitted from and contributed to the Ecobank Fintech Challenge.

“It is no coincidence that Nigeria is hosting this event. Our nation has emerged as a fintech hub in Africa, consistently leading in the number of applications, finalists, and winners over the years in the Ecobank Fintech Challenge. This year is no exception, with 9 of our semi-finalists hailing from Nigeria. This achievement underscores the vibrant and innovative fintech ecosystem we have cultivated here.”