Ecobank has announced the finalists in the ‘Ecobank Fintech Challenge,’ a competition for African technology start-ups that was launched in January 2017.
In a bid to solve Africa’s most pressing banking issues, the Ecobank Fintech Challenge sought technology startups to build and deploy innovative fintech and banking solutions across the continent. Fintech innovators, programmers and developers across Africa with solutions in the challenge’s key areas of interest were invited to apply for the contest.
The 20 finalists are:
- Piggybank.ng (Nigeria)
- Digi Teller (Ghana)
- MobiTill (Kenya)
- TEAM SAFEPAY (Kenya)
- Wallettec (South Africa)
- Greenshoe (Kenya)
- Invest Mobile (Ghana)
- KUDI(Nigeria)
- Wayagear Innovations Lagos (Nigeria)
- Paylater (Nigeria)
- PAYVITE (Algeria)
- PurseNG (Nigeria)
- Shield Finance (Kenya)
- IroFit (Nigeria)
- Circle Group Savings and Investment (Kenya)
- Inclusive Financial Technologies (Ghana)
- Electronic Settlement Limited (Nigeria)
- Social Lender (Nigeria)
- General Marchant (United States)
- Mi Nafa (Burkina Faso).
These 20 finalists will be honoured on June 21, 2017 at the global Headquarters of Ecobank in Lome, Togo at an Innovation Fair & Awards ceremony. At the awards ceremony, the 20 start-ups will be officially inducted into the Ecobank Fintech Fellowship that offers:
- Major start-up funding: worth up to US$500,000
- Multinational product roll-out support: for the most commercially viable start-ups to launch their products across Ecobank’s 33 markets in Africa;
- Service provider & ecosystem partner deals: for start-ups with deep capabilities to become service partners within Ecobank’s ecosystem;
- Technical & mentoring support: during the one year fellowship period, fellows will benefit from technical support from Ecobank’s global network of technology leaders, fintech experts, investors and management coaches.
The start-ups will also be given the opportunity to exhibit and pitch their products to a jury for the ‘Ecobank Africa Fintech Prize‘, which will be awarded the top innovator and two runners-up. Apart from the fellowship program, the top three innovators will walk away with US$10,000, US$7,000, and US$5,000 respectively.