Ecobank has launched the fifth edition of the Fintech Challenge and it is inviting African Fintech founders to stand a chance of winning $50,000. The challenge offers early-stage and mature fintech startups the opportunity to partner with Ecobank across 33 African countries. Applications open until 16 September.

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

Ten finalists will be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony which will take place in October 2022.

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 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.

Ade Ayeyemi, Chief Executive Officer, Ecobank Group, 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, 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.”

Interested fintech founders can apply here.

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