Ecobank Group Announces 2022 Edition of its Fintech Challenge, US$50,000 up for Grabs

The fifth Ecobank Fintech Challenge has been announced by pan-African banking organization Ecobank Group, which invites African Fintech business owners to participate.

A top prize of US$50,000 in cash and the ability to partner with and scale their solutions throughout Ecobank’s 33 African markets are up for grabs for fintechs that are in line with the bank’s strategic goals.

You can enter the Fintech Challenge by clicking here if you are a fintech developer or company with roots in one of the 54 nations that make up Africa. Applications are accepted through September 16, 2022.

After the finals and awards event in October 2022, ten candidates will be welcomed into the Fellowship.

Additionally, all Fellows will be eligible to investigate the following possibilities with the Bank and its associates:

• Multinational products roll out: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of the bank’s pan-African 33-country ecosystem.
• Service provider partnerships:  Ecobank may select some Fintechs as pan-African service partners within the Bank’s ecosystem.
• Access to Ecobank’s Pan-African Banking Sandbox: Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.
• Priority Access to Ecobank’s Venture Capital partners for funding exploration.

“Ecobank believes that the best way to modernize financial services in Africa is for Pan-African banks like Ecobank to continuously encourage and engage with innovative Fintechs and start-ups,” said Ade Ayeyemi, Chief Executive Officer of Ecobank Group. The top Fintech companies in Africa are invited and welcomed to collaborate with us on the 2022 Challenge.

“The Challenge’s uniqueness is that it welcomes both early stage and mature start-up Fintechs alike and seeks to align them with different kinds of partnership opportunities within Ecobank that match their differing levels of maturity,” said Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group.

The Fintech Challenge is backed by partners in Africa and throughout the world and was developed in collaboration with the international consultancy firm Konfidants. Since the Ecobank Fintech Fellowship program was established in 2017, 46 Fellows have been accepted.

Visit www.ecobankfintechchallenge.com for additional details on the competition, its advantages, and how to apply.