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Ecobank Group is inviting African fintech entrepreneurs to participate in its 2020 Fintech Challenge

Nigeria's Wallet.ng receiving prize at the 2018 Ecobank Fintech Challenge
  • Ecobank Group launches applications for the 3rd edition of its Fintech Challenge.
  • The Fintech Challenge allows African start-ups to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as well as France.
  • Applications for the competition will close on April 12th, 2020.

Ecobank Group has opened applications for the 3rd edition of the Ecobank Fintech Challenge.

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The pan-African bank said it welcomes submissions from all start-ups and developers in any of Africa’s 54 countries to enter its 2020 Ecobank Fintech Challenge.

Eddy Ogbogu, Ecobank Group Executive, Operations & Technology, noted that “As a banking group we continue to be amazed at the many ways in which fintechs are transforming banking across Africa.

“We look forward to the innovations and partnership opportunities that will come with the 2020 edition.”

The Fintech Challenge allows African start-ups to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as well as France.

Djiba Diallo, Ecobank Senior Fintech Advisor, said “The Ecobank Fintech Challenge and fellowship have been improved upon to add more value for Ecobank and the Fintechs. We took feedback from the past editions and one of the major innovations this year is the opportunity for shortlisted Fintech’s to access our APIs through our Pan African Sandbox.

According to the bank, all finalists will be inducted as Ecobank Fintech Fellows, participate in a business boot camp followed by an Awards and Innovation Fair at the headquarters of the Ecobank Group in Lomé, Togo in June 2020.

Fellows will qualify to explore the following opportunities including:

  • Multinational product roll-out: an opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s Pan African footprint
  • Service provider partnerships. Ecobank may select start-ups as a pan-African service partner 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.
  • Mentoring and networking support in the network of global and African partners of the Group.

Ecobank Fintech Challenge was designed in partnership with the advisory firm Konfidants and is supported by several partners across Africa and globally. Applications for the competition will close on April 12th, 2020.

Tanzania's Nala, South Africa’s Virtual Identity and Nigeria's Wallet.ng won the 2018 edition of the Ecobank Fintech Challenge. In 2017, all the winners were from the Nigerian fintech space out of the 20 finalists. Nigeria's IroFit emerged overall winner, while Kudi and Paylater made the second and third positions respectively.

African fintech entrepreneurs can apply via https://www.Ecobank.com/Fintechchallenge

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