Monday, September 26, 2022
MCGH News > Africa > 2022 Ecobank Fintech Challenge opens with $50K prize money

2022 Ecobank Fintech Challenge opens with $50K prize money

Ecobank Group is announcing the launch of the 2022 Ecobank Fintech Challenge which offers early-stage and mature startups the potential to partner with Ecobank across 33 African countries. Applications for the fifth edition are open from now until September 16th. The finals and awards ceremony will take place in October 2022.

The challenge welcomes Fintechs that align with the Bank’s strategic objectives. The top winner stands a chance to win a cash prize of US$50,000 and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets. The top ten finalists will also get to join the Ecobank Fintech Fellowship.

Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centered Fintechs, are eligible to enter the 2022 Ecobank Fintech Challenge.

2022 Ecobank fintech challenge

In addition, all Fellows will qualify to explore the following opportunities with the Bank and its partners:

  • Multinational products roll out: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of Ecobank’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 get 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.

Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group said, “The uniqueness of the Challenge 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.”

The Ecobank Fintech Fellowship program currently has 46 fellows including 2020 winner Nokwary.

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