Ecobank Group has launched the fifth edition of the Ecobank Fintech Challenge, calling on African fintech entrepreneurs to enter the competition.
In a statement on Thursday, the Pan-African banking group said fintech that aligned with its strategic objectives stands a chance to win an overall cash prize of US$50,000 for the top winner and the opportunity to partner and scale their solutions across the bank’s 33 African markets.
Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centered fintech, are eligible to enter the challenge, the bank said, adding that 10 finalists would be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony.
Ecobank said there would be opportunities for the fintech to pursue integration with the bank and potentially launch products in all or part of its pan-African ecosystem.
The bank also stated that it might select some fintech as pan-African service partners within its ecosystem as well as priority access to Ecobank’s venture capital partners for funding exploration.
The Chief Executive Officer, Ecobank Group, Ade Ayeyemi, said “Ecobank believes that the only way to transform financial services in Africa is for Pan-African banks like Ecobank to continually support and collaborate with innovative Fintechs and start-ups. We invite and welcome Africa’s best Fintechs to work with us through the 2022 Challenge.”
Tomisin Fashina, the operations and technology executive of the Group, added, “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.”
Comments are closed.